I’ve looked around, but haven’t found my answer - so lets ask 
When back testing on MT4, you have the option to test “Every Tick” or “On Candle Open” for the time period.
The question is, if I plan to have my EA only open orders on a Daily Timeframe anyway, on Candle open of the next day if conditions are true on the previous day - does the “Every Tick” backtesting even matter anymore?
The reason I ask is because with testing on candle open, I have amazing results for my EA, but Every leads to my account being wiped after a few trades (which I’m sure is due to code not specifying time frames for the open of trades, still working on that) - but can the results of On Candle Open be trusted regardless for these types of systems?
Thanks,
Hi,
yes, the results for “candle open” should be a sufficient test when your system is supposed to open max one trade and that at the start of a new daily candle; but I know at least two issues that come along with that:
candle open and close time differ from broker to broker and the spreads are (from my experience) larger around daily candle close/open.
I would use something like this:
[I]
if (Hour() == 1 && Minute() < 10 && noOpenPositions) {
// … do stuff
}[/I]
Thanks Johnny!
Specially for the spread tip, that could have saved me lots of heartache!
Though scary exciting to think my results were somewhat accurate - over 300k in profits in 7 years (single standard lots for each trade) for a single pair, starting with only 10k …
Is it possible that the backtester has other issues that I’m no taking into account? I’m simply looking at the high/low and close rates of the current candle to the previous according to rules on my indicators … liquidity/volume hasn’t been taken into account yet … seems a bit of an extreme profit no?
Hello guys,
I need to ask something here. In EA there are some parameters such as Magic Number,Multiplier. What are these use for??
Magic Number is an identification code you want to use to identify trades (similar to comments) - don’t need em, but if that’s what you want to use - that works.
Multiplier will depend, it’s not a built in MT4 one, it’s a variable in EA/Indicators that people with use … sometimes in conjuction with “Point” which is the MT4 version of a multiple to break down your integers/doubles (ex 30) to a PIP value (.00030) instead of a whole number.