Trading on tick charts with MT4 ! - page 7
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Hello short term (scalp)traders, I finally found out how to trade with MetaTrader(4) based on tick charts. This gives a much smoother price evolution over time in comparison with bar charts like M1 or M5. Indicators acts much better (faster) this way, at least in my opinion... I am a fan of Woodies CCI and my signals are much acurate then based on M1 or M5. So anyway, for those who wiches to trade, based on tick charts, i attached the two indicators needed. After installing in your Indicators-list, do the following : Open a simple M1 chart (EUR/USD if you want to trade this one) Put the LogTickData-indicator on this "naked" M1 chart (enable DLL) Drag the PostTickData-indicator into the same chart on the Price-window (enable DLL) and choose your own preferred ticks per bar on the inputs-tab, (15 if you wish a 15-tick bar chart) but 33 - 133 - 233 are more random tick charts and the 133 is the one i use most. Then you open the offline-chart !TickEURUSD, M5 (leave the time as is) This chart will start to collect tick data and you will see bars starts to form. Wait until sufficient bars has formed, and then add your favorit indicators. PS. Always leave the leading M1-chart open, don't close it !! There is one big disadvantage on this system - once you close MT, you must wait again building new data to produce a new actual tick chart. As an example, i included my Woodies template...please compare the two included snapshots for a moment. Nice trading to all of you and you're always welcome to respond to this thread and share your own experiences. Gilbert (Belgium) PS. Via this link you can read more about the advantages of using tick-charts. Also more here and here
Hi Gilbert,
Could you please explain me why the first file (LogTickData.mq4) contain as value extern int i_1Override_2Append = 2?... why not 1?
Thank you
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This thread seems to have died out, how are people doing with trading tick charts.
For 5 decimal price brokers, LogTickData.mq4 seems to create the log file ok. It also seems to log the ticks into that file just fine as well. But PostTickData.mq4 does not post bars to the offline chart. Instead, the offline chart continually reads, "Waiting for update." Maybe the indicator is obsolete??? If a programmer comes across this thread, please help modify this indicator for 5 decimal pricing. If I can manage to modify the code myself, I will post it in this thread.
For 5 decimal price brokers, LogTickData.mq4 seems to create the log file ok. It also seems to log the ticks into that file just fine as well. But PostTickData.mq4 does not post bars to the offline chart. Instead, the offline chart continually reads, "Waiting for update." Maybe the indicator is obsolete??? If a programmer comes across this thread, please help modify this indicator for 5 decimal pricing. If I can manage to modify the code myself, I will post it in this thread.
PROBLEM SOLVED! It seems some versions of MT4 only allow each name listed on the drop-down list of offline charts to contain a certain number of characters. 5 decimal price brokers generally add a suffix, i.e. "m" to the pair symbol name, i.e. "EUR/USD." PostTickData.mq4 properly generates "!TickEUR/USDm" but only "!TickEUR/USD" (not "m") fits in the drop-down menu, and no such file actually exists in the history folder.
Aaaaaaaaanyway... Here is PostTickData with all instances of "!Tick" changed to "!T-" so the "m" will now fit in the menu. Just attach LogTickData from Post 1 in this thread, wait for it to start printing, attach PostTickData, wait for it to start printing, and open the "!T-[whatever]" offline chart. Not tested long term, but looks an awful lot like the ticks in the Market Watch window so far. Test on demo only... blah blah blah. Happy scalping.
Thanks a lot for sharing this indi,RJo!
Thanks a lot for sharing this indi,RJo!
Vladv, here's another modified version of PostTickData.mq4. This one has all instances of "!Tick" and "!T-" completely removed from the code. The result--MT4 generates a standard named chart suffixed by your specified tick count, i.e. "EUR/USDm,M133." This should be compatible with those multi-timeframe indies which reference the current currency pair symbol to retrieve M1, M5, M15, etc. data. I say, "should" because I'm not a programmer and... when I loaded this into my IBFX mini demo account, it printed a giant price bar before syncing up with the Market Watch window. This might be caused by a lame demo data feed??? Also, entering tick counts that match your standard MT4 timeframes will probably overwrite your standard chart data, i.e. setting ticks to 5 might delete your M5 data.
Anyone who tries this version, please post your results. Also, can anyone post some more tick chart trading strategies?
Indie in last post above works great with a real (live account) data feed. Does anyone have a good strat to post?
Happy New Year!
there is still nothing shown in my mt4...
Cheers mate I will test it. I will let you know news about it. Thanks for sharing it with us