Jump to content
  • 0

MT4 platform strategy tester incorrect currency spread on non trading days


Guest kirc

Question

Hi,

 

I am currently using MT4 platform provided by IG. All seems well except for one problem which was consistently observed.

 

I am using MT4 expert trader to back test strategy on EURO/USD currency pair. I noticed that when i use strategy tester during the trading days (Mon - Fri), i was able to get accurate simulation on the trades with the correct spread (0.6 - 0.8). However, if i were to run the strategy tester during non trading days, i was getting false spread as high as 30 - 50 pips.  This greatly affected the effectiveness of using strategy tester during non trading days. 

 

I tried to adjust my expert trader code to close the trades at "adjusted Ask/bid" prices, unfortunately, the  error : "EURUSD,M1: OrderClose error 138" occurred and no trades could be closed properly due to the wrong quotes on currency spread. 

 

Attached a figure which details the incorrect spread (eg 50 pips) instead of the usual IG spread (6-8 pips)

 



 

 

Is this a known problem in the system? Anyone knows of a workaround?

Link to comment

4 answers to this question

Recommended Posts

Hi Tim,

 

Actually what i am trying to highlight here is that the data feed from MT4 on the currency pair EURO/USD appears to be wrong during the non trading days. I am trading on mini forex (0.1 contract).

 

In my previous screenshot which was captured from http://www.ig.com/sg/ig-forex/eur-usd (IG webpage) , the currency spread quote from IG MT data centre was 50 pips.  Now today, if you visit the website again on non trading days, the currency spread becomes 46 (please refer to the Sell and Buy prices). I attach the screenshot taken from same IG website for your reference.

1stOct2016.jpg

 

When running strategy tester on non trading days, none of my trades will be profitable based on the spread value of 46 as shown above. Is this expected?  

Link to comment

Here's the corresponding screenshot of the live quote prices for ASK and BID on EURO/USD on an active trading day. Apparently, the spread is correct (6 pip points, 5 decimal).  On non trading days, this goes up to 40-50 pip points as indicated in my earlier screenshots. Is this a technical issue?

 



 

 

Link to comment

Hi 

 

Thanks for sharing the screenshots. Given the market is closed there will be technically be no price at all given the market is not trading and so the spread value of 50 is simply a value that we have set just for illustrative purposes so charts can be viewed on the weekend.

 

I hope that helps and if there is antyhing else you would like me to clarify then please let me know and I will be glad to help.

Link to comment

Hi 

 

Welcome to the IG community!

 

The error you are referring to  is the strategy is trying to close a trade when the market is closed and so a 'Requote' related error should be seen.

 

The strategy I assume is triggering to do this because of the spreads being put to a wider level and so it is seeing this as a trading opportunity. With that in mind a solution if this was during trading days would be to use the RefreshRates function, however this would have no impact given the market is closed. I have looked into a number of other sources that suggest this may be related to the code itself. With that in mind I would be inclined to suggest checking the metaquotes coding forum that will be able to shed some light on this error.

 

MetaQuotes - MT4 Tech Forum

 

I hope that helps!

 

 

 

 

 

 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      22,089
    • Total Posts
      92,938
    • Total Members
      42,475
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    IPS Temp Admin
    Joined 06/10/22 15:40
  • Posts

    • 🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Recently price was locked inside distribution trading range and subsequently it broke down below key s/r level near 6600 and hit 6500. Following the normal distribution pattern. 🔸Short-term expecting throwback to re-test mid of the distribution range and then expecting new wave of short-selling once we trigger 6700. Bears still maintain strategic control. 🔸Recommended strategy for AUDUSD bears: wait for the short-term bounce to complete near 6700 and then re-enter on SELL SIDE. TP1 bears +200 pips TP2 bears final +400 pips at 6350. Keep in mind this is a swing trade setup so will take more time to complete. good luck! 🎁Please hit the like button and 🎁Leave a comment! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.  
    • Analog Devices Inc., Elliott Wave Technical Analysis Analog Devices Inc., (ADI:NASDAQ): Daily Chart, 31 May 23, ADI Stock Market Analysis: We reacted higher off equality of C vs. A as expected and we seem to be wanting to continue higher.   ADI Elliott Wave Count: Wave C of (2). ADI Technical Indicators: Above 200EMA. ADI Trading Strategy: Looking for further upside into wave 1 to resume upside, we will have additional confirmation once we break the top of wave B. TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!       Analog Devices Inc., ADI: 1-hour Chart, 31 May 23, Analog Devices Inc., Elliott Wave Technical Analysis ADI Stock Market Analysis: Looking for a potential five wave move off the lows, e are now expecting a three wave move into wave (ii) to then look for potential longs. ADI Elliott Wave count:  Wave  (i) of {i}. ADI Technical Indicators: 20EMA as support.   ADI Trading Strategy: Looking for a three wave move pullback in wave (ii) before resuming higher.
    • Elliott Wave Analysis TradingLounge Daily Chart, 31 May 23,   Bitcoin/U.S.dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Reactionary(Counter Trend) Mode: Corrective Structure: Zigzag Position: Wave(C) Direction Next higher Degrees: wave ((2)) of Motive Details: Wave ((2)) is likely to end at the level of 25874.30. A five-wave rise will confirm this idea. Wave Cancel invalid level: 25874.30 Bitcoin/U.S. dollar (BTCUSD)Trading Strategy: Bitcoin has recovered well from the 25874.30 level and can still hold above the MA200 line, leading us to expect Wave 2 to end at 25874.30, the price is returning to an upward trend, and a five-wave rise will support this idea. Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!       Elliott Wave Analysis TradingLounge 4H Chart, 31 May 23,   Bitcoin/U.S.dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: wave (C) of Zigzag Details: Wave (C) is likely to end at the level of 25874.30. A five-wave rise will confirm this idea. Wave Cancel invalid level: 25874.30 Bitcoin/U.S. dollar (BTCUSD)Trading Strategy: Bitcoin has recovered well from the 25874.30 level and can still hold above the MA200 line, leading us to expect Wave 2 to end at 25874.30, the price is returning to an upward trend, and a five-wave rise will support this idea. Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum.
×
×
  • Create New...