In a previous post I talked about how to achieve 90% modeling quality in your backtests by using Alpari’s databank files. Well I have good news! You no longer have to go such great length to get 90% modeling quality.
The makers of the MetaTrader 4 platform, MetaQuotes Software Corp, have decided to provide a data feed for everyone to use. The process of downloading history data from MetaQuotes’ servers is very simple. Just follow these easy steps:
1) Open up whatever MT4 platform you use
2) Go to Tools –> History Center (or press F2)
3) Select the pair you wish to download history data for and press the “Download” button
It will warn you that you are download history data from MetaQuotes Software server instead of from your broker and that there will be differences between the data provided by MetaQuotes and your broker.
That should do it! I would still highly recommend that you dedicate one MT4 platform to backtesting only. That mens do not load up any charts on your platform. Just download the history data via the method I’ve outlined above and only use the strategy tester.
using this new method, I am unable to get a strategy test to run. after i download the data (and can see it in the downloads folder, when i run the strategy tester i get a journal message that reads “TestGenerator: no history data ‘EURUSD240′” for some reason, although the data has been downloaded, the strategy tester does not see it.
Make sure you close all your charts while downloading data. Also close the MT4 platform after you download it.
When I delete the Demo user account (per your previous post) and .hst files and reopen MT4, first of all, the “register” dialog boxes come up every time asking me to open a new account and if I select “Cancel” to these dialogs, in the chart area all that I see is “Waiting for update”. And using F2 and downloading the data to finish properly but there’s still no data, even after right-clicking and selecting “Refresh”.
How can I apply my EA to test if is there is no chart to apply it to?
And how can I stop it from asking to create a new account everytime I open MT4?
Sorry I seem so confused. Thanks,
…..Sean
You don’t really need the charts to do a backtest, but what you can do is leave the newly created demo account alone but do not open any charts! Then just follow the instructions in the above post and you should be all set to go.
Thanks for your quick reply. Worked like a charm, except I did have to have some kind of demo account listed or it would refuse to give me access to the data that was downloaded (I checked and the data WAS in the History folder but when I double-clicked on the 1-min, 5-min, etc., in the History Center, nothing would ever appear on the right-hand side, not even if I tried to Import it. I then activated a Demo account (but did not bring up any charts) and poof!, the data was there.)
From my main window, I then just hit CTRL-R to bring up the Strategy Tester.
Thanks again and gl/gt.
…..Sean
Excellent, glad it worked. Good luck and good trading to you too!
Sean, btw, come join my Forex Nirvana forum at http://www.forexnirvana.com 🙂
Hold it. That’s forum? Lol. Thanks for the invite. I’ve been avidly reading the Euro-Blaster thread there for at least a week now and became a member. Really nice site. Well done! Hope to see you there.
…..Sean
(Edit) …That’s YOUR forum?…
Yes Sir it is.
Hi!
What is with a spread, is it involve in history data?
Bucho
Yes it does but the strategy tester uses only the current or last market price.
One problem with this is say you’re running your backtest on Friday or over the weekend, well, the strategy tester is going to use Friday’s closing day spread which in many cases can be much higher than the usual spread a broker may offer.
Bottom line is the MT4 strategy tester powerfull as it may be is still limited.
Hopefully MT5 will improve this situation.
Alternatively what you can do is get tick-by-tick data and import it into the MT4 strategy tester. This is a whole new ball game though and I may write an article soon on how to do that.
Happy trading bucho.
Btw, stop by the Forex Nirvana forum where you can pose similar questions.
http://www.forexnirvana.com