Hopefully this is the right place to ask this kind of question, it seems to be totally about developing stuff here, but since this is MT4 forms so I guess this topic might be in the right place, hopefully!
I'm trying to decide which broker should I go with, choosing between the famous two, Oanda & Alpari... downloaded MT4 for each of them, and started seeing so much difference in the "charting" between both versions..
The above snapshots are both on the hourly frame, the discrepancies between both are huge... I always thought the data should be exact since every pip makes a difference for a trader...
Please check the 6 candles on the left example and how they differ from one another... and for the right example, it shows that alpari makes all the week days of the same size, while oanda kind of splits a part of friday and monday and makes them as a one day, which ofcourse makes the daily charts of both brokers totally different...
May someone please advise me which one is better for technical analysis ? which one shows the actual market data ?
for instance, since we are in the weekend, I'll write down the ask/bid values of EUR/USD for both brokers, which are so different from one another:
Oanda: 1.36031 - 1.36136 // Alpari: 1.36012 - 1.36112
How are they so different ? which broker's charting MT4 is showing actual market values ? which one is more reliable, for example, if I take gaps so much into consideration, which broker's MT4 is more reliable when it comes to gaps ?
Lastly, I googled a lot to decide which broker is better than the other, it seems like oanda have lower spreads but they are market makers with dealing desks, while alpari have wider spreads but enables their clients to act directly with the market (ECN) ... so it looks like alpari is a better choice overall, am I thinking it right??
Sorry for the long post and many thanks in advance for your help
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5.
It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes t
Scalper with Automatic Parameter Setting
Would you like to have an Expert Advisor that could automatically calculate trade parameters and adjust to the current market situation?
We present you our new development for the Forex market. This is a tick scalper for МТ4 and МТ5 - TickSniper.
Trading with it is fully automated. Forget continuous monitoring - this Expert Advisor trades independently. Its settings have been optimized over the course of testing on our real accounts.
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
Run the script on a chart.
Language of messages displayed (EN, RU, DE, FR, ES) - language of the output messages (English, Russian, German, French, Spanish). Price for open - open price. If set to
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention
The Expert Advisor implements the classic "triangular arbitrage", which is successfully used by hedge funds.
Arbitrage refers to a class of neutral-market strategies, in which the profit or loss of open positions does not depend on the direction of the market movement as a whole.
In order to take profit, the EA exploits a weak spot of market makers - it utilizes the difficulty of combining cross rates of individual currency pairs.
The advantages of the strategy are the following:
Purpose and functions of the indicator
The indicator determines and marks the moments of trend change on a chart based on the theory of fractal levels breakdown on any time frames. If a breakdown based on all rules is real, the horizontal lines will appear on the chart with corresponding color. If there is an up trend, the line will be blue. In the descending trend the line will be red. The blue line is a strong support level, the trader should look for buying opportunities above this line. The
FourAverage: A Breakthrough in Trend Identification
With evolving information technology and increasing number of market participants, financial markets get less and less analyzable using good old indicators. Common technical analysis tools, such as Moving Average or Stochastic alone, are not capable of identifying the trend direction or reversal.
Can a single indicator show the right direction of the future price, without changing its parameters over 14 years' history, while at the same time
Monitoring and Trend Analysis
This product shows the trend strength levels based on 16 standard indicators, time periods and currency groups.
Depending on the current trend, the indicator colors change from green to red, allowing you to see the full picture.
Whatever your trading method and strategy are, you should always know, in which direction you are trading and what the probability of the trend change is. This indicator will help you answer these questions by calculating the
SafeZone is a method for setting stops on the basis of recent volatility, outside the level of market noise. It is described in "Come into my Trading Room" book.
In a downtrend, SafeZone defines noise as the portion of the current bar that extends above the high of the previous bar, against the downtrend. It averages the noise level over a period of time and multiplies it by a trader-selected factor.
For short trades, it adds the average noise level, multiplied by a factor, to the latest hig
The trade strategy is based on three moving averages. To determine the trend, it uses three exponentially smoothed moving averages: FastEMA, MediumEMA and SlowEMA.
Buy signal: FastEMA>MediumEMA>SlowEMA (upward trend).Sell signal: FastEMA<MediumEMA<SlowEMA (downward trend).Input parameters:
Inp_Signal_ThreeEMA_FastPeriod = 8;Inp_Signal_ThreeEMA_MediumPeriod = 38;Inp_Signal_ThreeEMA_SlowPeriod = 48;Inp_Signal_ThreeEMA_StopLoss = 400;Inp_Signal_ThreeEMA_TakeProfit = 900;Inp_Money
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
The main purpose of the indicator is to determine and mark trade signals on the histogram of the Accelerator Oscillator, which were described by Bill Williams in his book "New Trading Dimensions". The list of signals:
The buy signal when the indicator histogram is below the zero line. The sell signal when the indicator histogram is below the zero line.The sell signal when the indicator histogram is above the zero line. The buy signal when the indicator histogram is above the zero line. The
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
The main purpose of the indicator is to detect and mark trade signals on the histogram of the Awesome Oscillator according to the strategies "Trading Chaos, second edition" and "New Trading Dimensions".
The indicator detects and marks the following trade signals:
"Two peaks" - Divergence. The signal "Second wise-man" - third consequent bar of the Awesome Oscillator after its color is changed. The histogram crosses the zero line. The signal "Saucer".The indicator includes a signal block th
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Buttons for re
Active Lines - a powerful professional tool for operations with lines on charts. Active Lines provides a wide range of actions for events when the price crosses lines. For example: notify, open/modify/close a position, place/remove pending orders. With Active Lines you can assign several tasks to one line, for each of which you can set individual trigger conditions, as well as conditions for re-activations and the number of possible activations.
Active Lines helps you easily organize various tr
This indicator allows you to enjoy the two most popular products for analyzing request volumes and market deals at a favorable price:
Actual Depth of Market Chart Actual Tick Footprint Volume ChartThis product combines the power of both indicators and is provided as a single file.
The functionality of Actual COMBO Depth of Market AND Tick Volume Chart is fully identical to the original indicators. You will enjoy the power of these two products combined into the single super-indicator!
Wolfe Waves represent a fight towards an equilibrium price and are one of the most reliable predictive reversal patterns in existence. These waves can manifest having different amplitudes and are difficult to spot. This indicator is especially accurate because it waits for a breakout in the wave direction before signaling the trade, resulting in a very high winning ratio.
Amazingly easy to trade Detect all wolfe waves present in the chart Trade reliable price reversals in all time
The indicator determines and marks the short-term lows and highs of the market on the chart according to Larry Williams` book "Long-term secrets to short-term trading".
"Any time there is a daily low with higher lows on both sides of it, that low will be a short-term low. We know this because a study of market action will show that prices descended in the low day, then failed to make a new low, and thus turned up, marking that ultimate low as a short-term point. A short-term market high is just
qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
When the trend changes, the indicator changes the line color and, at the same time, highlights the trading pane
Sideways Alert Indicator is a very effective tool to indicate sideways conditions on live charts and to determine its levels. It helps us trade within the range or trade the breakout or just simply to filter out sideways market conditions.
Cluster analysis is now available in MetaTrader 5!
YuСlusters indicator builds a cluster graph based on tick data. For exchange instruments it is the volume and the last deal price, for Forex instruments it is the real or tick volume (depends on broker) and selectable type of the current price: Bid, Ask or (Bid+Ask)/2.
There are 5 criteria of cluster generation: Time interval, the criterion is set in seconds. Price range, the criterion is set in points. The current cluster is closed when the
Pipfinite creates unique, high quality and affordable trading tools.
Our tools may or may not work for you, so we strongly suggest to try the Demo Version for MT4 first. Please test the indicator prior to purchasing to determine if it works for you.
We want your good reviews, so hurry up and test it for free...we hope you will find it useful.
Trend Laser with Volt Impulse
Strategy: Confirm impulsive signals Watch Video: (Click Here)Trend Laser with Energy Beam
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency.
The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In a
The indicator has standard settings. The new modification of indicator provides special marking of the segment when the moving averages begin to form a cross in one direction or another. The Alligator`s cross indicates that the trend is about to change. Modified Alligator helps traders to determine a trend on a particular timeframe even if the averages are intertwined and have a shift in the future. Direction of a trend is determined by a cross of the averages with a specified marking area on th
This software has no equals in the world and represents a universal trade "console" covering trading signals, automated market entry, setting of Stop Loss and Take Profit, as well as Trailing Profit for multiple trades at the same time in a single open window. Intuitive control of the Expert Advisor in "three clicks" ensures a comprehensive use of all its functions on different computers, including tablets PCs.
Interacting with additional signal indicators that mark the chart to give a real mar
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we've ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of his experience.
What is VSA?
VSA - Volume Spread An
Well both charts are correct. What you miss here is the basic understanding of Market Makers and how they work.
FOREX is mostly a uncontrolled area, where you deal with so called "Market Makers". See it as kind of big market, where 100 people are selling apples. The one sells them for 1.3512 per kilo, the other for 1.3514 per kilo at the same time. There is NO exact match from one Market Maker to the next. They all buy, sell, alter, manipulate, cheat their prices to make their own living out of it. FOREX can be seen as not controlled market compared to the stock market.
Also you need to understand that the data sent to you on a demo account (I assume this to be the case) can also be sent to you with a delay of 15-20 minutes. A lot of Brokers do this to avoid feeding people with free live feeds. This can also cause the big differences in your hourly candles. If for example BrokerA sents you a feed with 5 mins delay and BrokerB sents you a feed with 10 mins delay, then you might end up with such a result.
As an advise to every trader I can assure, that it's always best to have 2-3 different sources of DATA FEEDS to make sure that your Broker is not cheating you. I always trade with what my Market Maker provides me as data and I also have a live feed with other data. This makes me able to compare and see the real live feed and what my Broker sents to me.
Which Broker to decide is hard to say but I can assure you that they all have ways and algorithms to rip off the people. FOREX is not just about buying and selling. It's also about surviving your Broker from ripping you off. There is much more to consider and you need to be highly skeptical with everything. The FOREX market is full of sharks ripping you off in a blink of a second.
Make sure you never tell your basics and trading styles to anyone. Not even your Broker.
Be careful with setting stop losses and take profits. You store these infos on the systems of your Broker. They might initialize stop hunting.
Never store your settings on your Brokers machine. There are various trading platforms (thinkorswim, protrade, etrader ...) who stores your setup on their machines. Moving Averages, Chartsetup, Indicators etc.. It's like telling them what you do.
Finally I am glad that you did this comparison and figured this "misbehaviour" out on your own.
That was so much informative, thank you sir for taking the time to explain all of that!
I've been trading in local stock market for a while till I decided to change to forex, maybe that's why I thought Forex is as controlled as stock markets, I am used to consider chart data as facts.. however, in my local stock market(Egypt), the data feed is 100% controlled, but, there is so much more corruption in the stocks movements and news/rumors, the market isn't regulated by any means to protect small/average traders, they only protect the BIG POCKETS even if they are corrupted, which most of them are! I would definitely choose the forex market over my local stock market even if the data feeds aren't as controlled
So, when I go live with a broker, I should still keep one or two demo accounts from another providers to get a better overview of the market and catch any strange behavior in my broker's data feed...
Both oanda and alpari have MT4 and that's the platform I kind of got used to, so I guess MT4 is storing everything(except SL & TP) locally ? which should be fine... I believe I saw some code here in the forum that makes SL locally, and if the price hit it, then it will send the order to the server for immediate execution, that should make it totally safe to hide SL/TP from my broker?
I've read a lot about hunting stops, and I never understood why brokers do it, isn't it better for them if my account stayed alive, so that they keep making money out of the leverage interest and spread/commission values ?
Following your post, I digged more into alpari website to find answers your points, that's what I came up with so far:
1- Alpari applies NDD/ECN to all their plans, shouldn't that be enough to eliminate the probability of hunting stops ?
2- Just as you said, deposits costs nothing, while withdrawal costs 10~13 GBP per transaction, so I guess I shouldn't be withdrawing small amounts of money, incase I made any profits at all !
3- They(alpari) have variable spreads, which I found to be wider than those of Oanda's variable spreads, but I can accept that if they really provide ECN which Oanda doesn't...
4- emergency numbers, I didn't check that yet with them, but I guess I have some kind of redundancy when it comes to internet, ADSL line at home and Mobile data on mobile, so if the home ADSL is down, I still can take actions using MT4 on mobile...
5- They don't charge commission on the "market account", which I intend to open..
Sorry again for the long post aakcaagac, but I really need all the help I can get before putting real money in the forex market, I traded actual money in the local market and lost a lot because of the unbearable corruption, now I've been trading on oanda's demo account for a couple of months, and will trade for more two months on alpari's demo account before actually putting real money with either of them... hopefully I won't be wiped out "again"