MT5...will it do this?
I am new to MQL5 and with little other true programming experience. Before I invest a lot of time, I was hoping that those with understanding and experience of MQL5 could help answer a few questions. Over the years I have used MT4, TradeStation, Strategy Trader and MultiCharts and to my understanding, none were capable of doing what I wanted. Every year or so, I check out the software to see if my trading can be done automatically. My goal is to automate my trading concepts using limit orders. Contrary to what was suggested by the software developers, historic backtests did not match my live trading, demo, or charts just plugging along generating signals. In the end, some type of algorithmic manipulation existed, with only the OHLC data points of a bar used. The easiest fix is if I am wrong and it could have been done and I don't know how. I have no need to be correct, I just want it to work!!
As an example: If for two bars there were identical price points with the open price of $10, the low being $10 the high being $20 and the close being $10, I want to place a limit order to either buy or sell at $15. In the real world that order would have been generated by the price action of the first bar and filled on the second bar. Backtest on other platforms would either place that trade at either 10 or 20, the only 2 valid price points that have ticks and therefore don't match
1. I want the orders and trades on a live account to match a demo account.
2. I want my demo account trades to match a historic backtest.
All my orders will be limits and therefore I know it is possible that the number of signals/trades between 1 and 2 above could be different, however those that do take place should have the same price.
It's not possible to be sure about that. The price at which a limit order will be triggered depends of the market. A "demo" or "backtest" market will never be the same as a "live" market.
I am new to MQL5 and with little other true programming experience. Before I invest a lot of time, I was hoping that those with understanding and experience of MQL5 could help answer a few questions. Over the years I have used MT4, TradeStation, Strategy Trader and MultiCharts and to my understanding, none were capable of doing what I wanted. Every year or so, I check out the software to see if my trading can be done automatically. My goal is to automate my trading concepts using limit orders. Contrary to what was suggested by the software developers, historic backtests did not match my live trading, demo, or charts just plugging along generating signals. In the end, some type of algorithmic manipulation existed, with only the OHLC data points of a bar used. The easiest fix is if I am wrong and it could have been done and I don't know how. I have no need to be correct, I just want it to work!!
As an example: If for two bars there were identical price points with the open price of $10, the low being $10 the high being $20 and the close being $10, I want to place a limit order to either buy or sell at $15. In the real world that order would have been generated by the price action of the first bar and filled on the second bar. Backtest on other platforms would either place that trade at either 10 or 20, the only 2 valid price points that have ticks and therefore don't match
1. I want the orders and trades on a live account to match a demo account.
2. I want my demo account trades to match a historic backtest.
All my orders will be limits and therefore I know it is possible that the number of signals/trades between 1 and 2 above could be different, however those that do take place should have the same price.
I appreciate the time anyone takes to help!
Don
Lets make this simple - MT5/MQL5 will do everything you described above! However, the Market will most likely not cooperate in order for you to achieve that!
Back-tests will never match a Demo Account, and a Demo account will never match a Live account. This holds true be it MetaTrader, TradingStation, or any other application from the past, present or future (most probably)!
Thank you for the feedback.
I am most concerned with the technical capabilities of the software and not the concepts. It is impossible to tweak the concepts if the software is not exact.
Other than scrolling through all the pages of this forum, is there a site where I can download any type of limit order expert to verify that signals generated on historic data line up with signals on a live chart?
Thank you
Other than scrolling through all the pages of this forum, is there a site where I can download any type of limit order expert to verify that signals generated on historic data line up with signals on a live chart?
It looks like you are still not quite understanding the concepts yet, and I quote:
Back-tests will never match a Demo Account, and a Demo account will never match a Live account. This holds true be it MetaTrader, TradingStation, or any other application from the past, present or future (most probably)!
I suggest you first to some in-depth research into how trading works on Forex or other similar markets and how the Market dictates how orders are filled (be it Market or Pending Orders, be it Stop or Limit orders).
Your incorrect preconceived ideas of how you "think" it works, is preventing you from actually understanding the mechanisms behind the order placement when trading.
Some info....
I have been trading for going on 30 years. Much of time spent with charting packages which have never been able to do automatically, what I do manually. I understand the markets I trade.
I have non-automated strategies that work for me. All my orders are placed in advanced using limit orders.
100% of the time, I am filled at or better.
I have been working on automatin
Sooooo if I can determine my limit order pricing using spreadsheets and have that order filled in reality, I assume the same would hold true for trading with an automated platform. If I want to try and improve my current strategy or increase the trading frequencies, to trust the software backtest is paramount. I know from experience, you can have a backtest show you $100k in profit and purely as a result of software technical issues (nothing to do with market conditions, latency, trading costs or strategy design) that same 100k in profit is in fact a $25k loser
"IF" that platform builds its bars from ticks as they in fact took place. I would code to buy at ask ticks and sells at bid ticks I want backtesting capabilities to "see if" I can increase the trading frequency of my current trading.
That is why I am trying to find or create a simple test of limit orders.
Thank you
Some info....
I have been trading for going on 30 years. Much of time spent with charting packages which have never been able to do automatically, what I do manually. I understand the markets I trade.
I have non-automated strategies that work for me. All my orders are placed in advanced using limit orders.
100% of the time, I am filled at or better.
Of course if you are using limit orders.
I have been working on automatin
Sooooo if I can determine my limit order pricing using spreadsheets and have that order filled in reality, I assume the same would hold true for trading with an automated platform. If I want to try and improve my current strategy or increase the trading frequencies, to trust the software backtest is paramount. I know from experience, you can have a backtest show you $100k in profit and purely as a result of software technical issues (nothing to do with market conditions, latency, trading costs or strategy design) that same 100k in profit is in fact a $25k loser
"IF" that platform builds its bars from ticks as they in fact took place. I would code to buy at ask ticks and sells at bid ticks I want backtesting capabilities to "see if" I can increase the trading frequency of my current trading.
That is why I am trying to find or create a simple test of limit orders.
Thank you
Try it, I don't understand your problem.
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I am new to MQL5 and with little other true programming experience. Before I invest a lot of time, I was hoping that those with understanding and experience of MQL5 could help answer a few questions. Over the years I have used MT4, TradeStation, Strategy Trader and MultiCharts and to my understanding, none were capable of doing what I wanted. Every year or so, I check out the software to see if my trading can be done automatically. My goal is to automate my trading concepts using limit orders. Contrary to what was suggested by the software developers, historic backtests did not match my live trading, demo, or charts just plugging along generating signals. In the end, some type of algorithmic manipulation existed, with only the OHLC data points of a bar used. The easiest fix is if I am wrong and it could have been done and I don't know how. I have no need to be correct, I just want it to work!!
As an example: If for two bars there were identical price points with the open price of $10, the low being $10 the high being $20 and the close being $10, I want to place a limit order to either buy or sell at $15. In the real world that order would have been generated by the price action of the first bar and filled on the second bar. Backtest on other platforms would either place that trade at either 10 or 20, the only 2 valid price points that have ticks and therefore don't match
1. I want the orders and trades on a live account to match a demo account.
2. I want my demo account trades to match a historic backtest.
All my orders will be limits and therefore I know it is possible that the number of signals/trades between 1 and 2 above could be different, however those that do take place should have the same price.
I appreciate the time anyone takes to help!
Don