Metaquote is packing charts with historical data that doesn't actually exist!!!!

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Hello everyone!

While I was doing some MT5 back-testing where I repeatedly got wrong output (based on number of bars of n'th period), I was surprised to learn that I was using the wrong pair with the wrong historical data indeed!!

The pair is , the most popular the least to say, that is EURUSD.

The MT5 data for this pair goes back to 1971 on the Weekly chart! whereas the Euro currency was launched on 1999. ("... After a decade of preparations, the euro was launched on 1 January 1999..." see the official link below)

https://europa.eu/european-union/about-eu/euro/history-and-purpose-euro_en

I am still checking all other pair as I am writing this topic.

This rises a lot of questions about quality "assurance/control" Metaquote is adopting in developing its financial software!!

History and purpose of the euro | European Union
  • europa.eu
A brief history of the reasons behind the creation of the euro, and the steps leading to the single monetary system
Files:
EURUSD.PNG  95 kb
 
cre sim:
...

This rises a lot of questions about quality "assurance/control" Metaquote is adopting in developing its financial software!!

I think - it is synthetic data.


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And please note that MetaQuotes company is not a broker, and all the data are related to the brokers.
As to the quolity of the data - do not use MetaQuotes-Demo for that, because MetaQuotes-Demo account is for testing beta builds of Metatrader and for updating Metatrader to the latest build.

Use data of the brokers (because the brokers are responsible for data).

 
Sergey Golubev:

I think - it is synthetic data.


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And please note that MetaQuotes company is not a broker, and all the data are related to the brokers.
As to the quolity of the data - do not use MetaQuotes-Demo for that, because MetaQuotes-Demo account is for testing beta builds of Metatrader and for updating Metatrader to the latest build.

Use data of the brokers (because the brokers are responsible for data).

Hi Sergey,

Thanks for the contribution.

I am sorry that I did not mention that my MT5 account is live account from a well known broker too!

I did double check other brokers, the same issue.

As per your argument, there should be no "synthetic" data when it comes to live, real historical data of a financial instrument. From science perspective (or mathematically speaking), never try to combine synthetic

data with real one, this is like mixing collected data (experimental) with simulated (calculated) data in one graph!! what's the point of doing so?

The MT5 platform should only show, at most, the oldest real ticks of a given instrument based on its first moment of introduction to the marketplace (that is the first moment that come to existence).

Regards,

CS

 
cre sim:
...

The MT5 platform should only show, at most, the oldest real ticks of a given instrument based on its first moment of introduction to the marketplace (that is the first moment that come to existence).

...

The data is related to the broker (it is not related to MT5/MT4 platform).
So, you can ask the broker about why they are showing some synthetic data for EURUSD for example.

As to MetaQuotes-Demo account/server so they (MetaQuotes) are providing this synthetic data for this MetaQuotes-Demo server because of the following:

  • this server is used to update to new MT5 build
    and
  • because this server is used to test new beta builds (means: it is not for trading etc).

This situation was discussed on Russian forum many years ago (there is the thread about it of 22 pages).
I collected some replies of MetaQuotes related to it (machine translation from Russian to the English; and look at the date/year of the posts):

Forum on trading, automated trading systems and testing trading strategies

Service Desk: laziness, autism or unwillingness to admit mistakes? Supplementing charts with non-native candles.

Renat Fatkhullin , 2012.11.26 20:11

...

We are responsible only and only for the history of our MetaQuotes-Demo server and we are right by loading D1 on the history of 1971-1999.

Forum on trading, automated trading systems and testing trading strategies

Service Desk: laziness, autism or unwillingness to admit mistakes? Supplementing charts with non-native candles.

Renat Fatkhullin , 2012.11.26 18:21

Have you personally at least seen these daily bars on M1? And where exactly did you see them?

Since people don't really understand what this is about, I will repeat again:

  1.  Daily bars on minute data only older than 1999 were set deliberately and deliberately to fill in a deep history.
  2. There are no other timeframes instead of minutes since 1999. That is, no mix inside a minute story.
  3. There are no technical errors in the import of daily charts to old-time minute bars. There is an "honest" minute with the daytime OHLC.
  4. It is not a serious argument that "D1 bars M1 bars from 1980 can spoil my analysis". ...

That is, there is no mix of "in some places minutes, in places daytime bars". This is described in paragraph 2. Only on the old data 1971-1999 as a minute at 00:00 is the daily bar.

Point 4 clearly states that there is no practical sense in working with minutes older than 1999, and there is no need to even try to make theoretical connections in the form "this may be needed sometimes, you have no right to decide for others."


 

Thanks Sergey!

"because this server is used to test new beta builds (means: it is not for trading etc). "

Yeah, but, as all developers know, the release version must be free of verbose, benchmarks, synthetic data... as opposed to debug release.

So I think the release version must be as cleaner as possible and free from such above stuff to avoid end user confusion/misinterpretations!

Anyway, from from now and on, I will have to deploy validation mechanisms in order to avoid such discrepancies and mix between real trading data and synthetic in one given graph.


Regards,


CS

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