Tag Archives: MetaTrader 4

Metatrader Spread Recorder Indicator

forex spread recorder

Hi everyone. I just came across a neat metatrader 4 indicator that records the spread history of any currency pair you choose. Basically the way it works is you attach it to the chart of any given currency pair you prefer and it will record to a file every change in that currency pair’s spread (difference between bid and ask) until you tell it to stop recording.

This can be a really useful tool to keep an eye on your broker if you suspect that they’re doing something fishy like artificially raising the spread at key times during specific trading sessions, or it can of course be used as a mere curiosity and research tool.

For me this indicator is most useful in finding whether a particular broker is well suited for the Asian session scalper EAs that I use.

You can get this indicator by visiting the thread I created on the Forex Nirvana forum. You have to register to download the indicator, but worry not, the registration process is really quick and easy. Here is the link you need:


Hope you find this post useful!



Quick way to install MT4 on Mac OS X using Crossover

silver apple logo

Hey everyone. Some people have been reporting on my “how to install MT4 on Mac OS X” post that the latest version of MT4 cannot be installed or doesn’t work properly with Crossover. Well to be honest guys I stopped using MT4 on OS X, so I haven’t been keeping up to date on this subject. However one visitors commented that he found a solution, and it is deceptively simple and easy. Apparently all you have to do is use their “Cross Tie” program.

Visit this link:


Then click on the “Install via Cross Tie” link.

I hope you find this helpful.

Thanks goes out to a visitor that goes by the name of “Kong” for sharing this info with me, and eventually with you all via me.



Huge list of MetaTrader 4 platform download links for various forex brokers

Hi everyone. I had to go out and scour the internet to find the MetaTrader 4 platform download links of various popular MT4 brokers, and I figured since I did all that work why not share the list with my dear blog readers. Please bear in mind that this list of all the brokers that _I_ consider to be the “most popular.” I clearly don’t know ALL of them so if you’re a representative of a brokerage firm and by any chance you’d like your MT4 platform download link to be present in this list just give me a shout or post a comment.

The list follows below: Enjoy!

1: Alpari UK


2: Alpari US


3: ATC Brokers


4: CMS Forex


5: FOREX.com


6: FX Solutions




8: CitiFX Pro


9: GFT Forex


10: InterbankFX




12: Admiral Markets


13: HY Markets




15: MF Global FX Canada


16: Pepperstone


17: GO Markets


18: Vantage FX


19: ACM


20: MIG Bank


21: FX Pro


22: Markets.com


23: Tadawul FX


24: AVA FX




26: FXOpen


27: BrocoTrader


28: IamFX


29: FinFX


30: Easy Forex


31: AAAFx


32: Oanda


How to disable ‘Auto-Update’ in MT4


Edit: It seems starting with build 482 the makers of MT4 (MetaQuotes) decided to put the platform update code right in the MT4 executable program itself so the platform now updates itself AUTOMATICALLY. I find this to be a bad idea and no doubt many of you do as well. I can go into a few reasons why, but I shall save that for later. As far as I know there is no way to disable this and prevent the platform from automatically updating (and thus restarting) itself. If I find something I will post an update here or in a new post.

Hello fellow traders.

I’m not sure how many of you have wondered if there is a way to get rid of MT4’s automatic auto update notification, but if you wish to permanently disable it I have found a solution. The most common reason I can think of why anyone would wish to do this is to ensure that your EA or backtesting platform is always running a specific version of MT4. This could be necessary for compatibility reasons or maybe you just don’t want to be bothered every time you load up the platform.

There is of course a downside to disabling the auto update feature. The main negative point is that you’ll never receive the latest bug fixes and security fixes that get incorporated into newer version of MT4. If you stick with one version forever you’ll have to live with all the bugs and potential problems that particular version of MT4 has.

But if this is something you are sure you wish to do, here is how you do it:

1) Open up the folder where you installed the MetaTrader 4 platform (typically it is located in c:\program files\)

2) Find a file called LiveUpdate.exe

3) Rename that file. It can be any name just make sure you don’t rename it to something you won’t recognize later. For example, I renamed mine to “LiveUpdate.exe-” (without the quotes obviously)

This will permanently disable MT4’s auto -update feature. Later on if you wish to upgrade the platform to the latest version available from your broker just rename the file back to LiveUpdate.exe and restart the platform.

That should do it!

Alan out.


How MT4 Backtesting Modeling Quality Is Calculated

Hi everyone. Today’s post is sort of an educational informational tidbit for all you MT4 junkies out there. One of the somewhat obscure questions I see on various forum is by what formula is the modeling quality calculated by the MT4 backtester. I’ve got the answer, and here it is:

ModellingQuality = ((0.25*(StartGen-StartBar) + 0.5*(StartGenM1-StartGen) + 0.9*(HistoryTotal-StartGenM1)) / (HistoryTotal-StartBar))*100%;


  • HistoryTotal – the total amount of bars in history;
  • StartBar – the number of bar with which the testing was started. Modeling starts at at least 101st bar or the bar corresponding with the initial date of test limits;
  • StartGen – the number of bar with which the modeling on the nearest timeframe started;
  • StartGenM1 – the number of bar with which the modeling on minutes started;

at that:

  • The distance between the beginning of modeling of databases for the nearest timeframe and the beginning of modeling on the nearest timeframe data has a weighting factor of 0.25;
  • The distance between the beginning of modeling on the nearest timeframe data and the beginning of modeling on minutes has a weighting factor of 0.5;
  • The distance between the beginning of modeling on minutes and the end of history data has a weighting factor of 0.9;

The following colors are used in the color diagram:

  • Lime – modeling on minutes
  • Deeper green colors show modeling on large timeframes
  • Pink color – pure fractal modeling of the databases of smaller timeframe
  • Gray color – modeling limitation by date

From the formula you can see, that 90% is the maximum modelling quality possible. However if you give the backtester BETTER (higher quality) data such as raw tick data you can increase the modeling quality to 99%. Essentially the MT4 backtester interpolates price data from M1 chart data. If you give it TICK DATA it naturally has MORE data to work with and hence the accuracy of your backtest will increase.

I’ve got a post that teaches you step-by-step how to get 99% modeling quality. You can check out that post over here:


This method however does have some limitations. One that comes first to mind is that due to a file size limitation with MT4’s backtester you can run a backtest only is 1 to 2 year chunks. See the comments section of the above link for details.

Ok, I’m out.



MT4 Backtesting & Optimization

Forex Trading

MT4 Backtesting & Optimization

Here is a visual tutorial (aka HOWTO) on how to run optimizations and backtests with MetaTrader 4 (MT4). This is but one method of backtesting! There is another method that you can use but which involved downloading backtesting data NOT from your broker but from MetaQuotes (the makers of MetaTrader 4 – MT4) directly. For a guide on how to use this other method please see this post of mine instead.

I hope you find the guide useful and if you do feel free to give me a shout out by leaving a comment. Here goes the guide:

*Due to the limited screen real estate my current blog template affords I had to reduce the size of the images a bit. So if you find that you cannot clearly read a particular item in this visual guide please click on any of the images for a full screen version*

By the way in case you are wondering the EA’s backtested in this guide come from Bogie Enterprises.

That about does it for this post.

Have fun backtesting! Hey don’t forget if you find that elusive holy grail EA, send me a copy! 🙂