MT4 platform strategy tester incorrect currency spread on non trading days

[Guest kirc]

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?

[Guest kirc]

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.

 

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?  

[Guest kirc]

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?

 



 

 

[Guest TimP]

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.

[Guest TimP]

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!