For what I understand when we perform a backtest on MT5, we download the data from Metaquotes, and of course is not the data of our broker, but for example EURUSD data should be pretty similar on Trading View or Metaquotes or my specific broker.
Anyone has made similar testing? I think the question if is someone that "makes money" with EAs in Metatrader need to buy data from a third party, or we can use the data from the terminal. Thanks!
I could write a lecture on this topic. Is MT4/5 data reliable? Yes
How do I know? Well I am in the process of getting funding for my trading systems and as part of this, I presented my backtested and live trading performance to various Investment Houses
They asked how I backtested and I said via MT4/5 data and also through Tradestation
They insisted I subscribe to Sierra Charts and Bloomberg Data to validate what I had
I subscribed to the data which was a bit painful to get the data and downloaded it.
I did a comparison and there were extremely negligible differences. My PF didn't move over the same timeframe
So in a nutshell, I do not see why you cannot use Metatrader data to backtest and work with
Thank you for your response. Do you use algorithmic trading (EA) or do you use manual trading?
I'm only asking because I think in the case Algo trading is more important to have good data.