One of the main problems that I have encountered is that Brokers do not provide very much data to backtest with on the MT4 trading platform. I decided to attempt to compare historic data for GBPUSD from other data providers to my Broker’s data. After the data has been adjusted by 6 hours to
It is possible to look at how the Standard Deviation and Average True Range of a currency changes throughout the day using the following custom indicators. They have not been designed to be efficient, instead I have concentrated on simplicity to demonstrate a point. Indicator: ATR_AverageAndBands Indicator: StdDev_AverageAndBands Indicator: Indicator_ATRBands The following charts show
I decided that it was important to compare my current broker to at least two other brokers. A demo account was setup and then the Spread, Stop and Freeze Level were recorded over roughly 1 day. The following 2 Graphs show the results: The positive aspects of the second broker that I looked
Before progressing with any algorithmic trading strategy, I wanted to make a reasonable effort at evaluating a suitable strategy to limit my GAP risk should something go wrong. Firstly, I downloaded 1 minute candle data for each of the following currencies from the www.histdata.com website and uploaded it into the MetaTrader history centre. I wanted
This EA is designed to be run in a single graph. The EA is run every “I_RecordPeriodInMinutes” minutes. When run, it will scan through a list of Symbols contained within the code and record the current Spread, Stop and Freeze Level. The results are stored in a file that takes the following format:
This EA is run every tick and should record the Maximum Spread, StopLevel and FreezeLevel encountered during the day. It should be run in a candle chart greater than or equal to 1 minute and less than 1 hour. When the candle pattern crosses over to a new day, a report of the
This is a very basic script that will display some key market, risk and account information when dragged onto a chart. A limited selection of parameters are used, but the script could easily be extended to display more information. MQL Code (pdf): MarketInfoAndRisk