Why no bullish or bearish engulfing candles on Oanda MT4 charts?

Trading Systems Expert Advisors and Automated Trading
1

Hi,
Subject:
Why no bullish or bearish engulfing candles on Oanda MT4 charts ?

I see engulfing candles on the web version of Obanda but not in MT4

Please advise
Thanks

2

Hi Agent86,

Can you please provide some screenshots and we can better answer your question.

Cheers,
Bernice

3

Ok
I’ll try to do that today
I recently have a problem of what folder to put the EA’s since it was working only 1 day ago now for some reason it’s not working and I can’t understand the documentation of where to put the EA’s
I have a experts folder, and a MQL4/Experts folder. MT4 appears to have copied all my EA’s to the MQL4/Experts folder but yet they product failed to open errors now.

MQL4 forums indicate the folder has changed
Data Structure in MetaTrader 4 Build 600 and Higher - MQL4 Articles

However I have no such similar folder location on my Windows 7 system
C:\Users\User_account_name\AppData\Roaming\MetaQuotes\Terminal\Instance_id

Lower in the documentation indicates this
\MQL4\Experts

I have this and the EA’s are there, but not in the User account but in the installed folder as it should be and as the documentation indicates if you are admin

Anyhow I’ll work on this today and then post back some screen shots. It was working for over a year up until a day or two ago.

4

Thank you. For your EA question, this should work:

  1. Open MT4
  2. Go to “File” -> “Open Data Folder”
  3. Wherever it opens is where you should put your EAs (inside the MQL4\Experts folder)

Cheers,
Bernice

5

I’m working on this part also at mql4.com
Tester: Cannot load Experts\ - MQL4 forum

I’ll post back once I get this worked out. I do have some EA’s in the MQL4 folder however they do not appear to be in any such User_account_name as the documentation suggests that it should be.

Now all the sudden I do have a few EA’s working but most still do not and give the error message that it can’t be opened.

I may go and recompile each one or try a fresh install then I can finally post some screen shots on this post.
Sorry this post is getting sidetracked.

Thanks for the reponses

6

that is the sideway market. it is not a bull or bear market. we must learn about it.

7

Hi,
Thanks for the reply but your response does not seem to match the question regarding MT4 charts vs Oanda web charts. Assuming they both use the same feed the charts are not the same.

I think I figured out the MT4 cannot open error. I may need to recompile each individual EA and I believe the data folder should fix itself and copy the EA’s properly on their own.

I’ll post screens once I figure this out sorry for the delay

8

Ok I got some screens

First here are the 2 screens of Oanda MT4 and Oanda web versions

On this particular chart there are some rare engulfing candles. However, they are different then the MT4 charts look at them compared to the web feeds. Some engulfing on the MT4 are not engulfing on the web version and slightly different.

That is one problem, but also another problem is that Oanda in general does not seem to have no where near as many as on other charts which are more clearly defined on other charts too.
Anyhow here are the first 2 charts for comparison and I’ll gather some others from the web for further comparison.

Thanks

The pics attached seem too small for some reason
Anyhow the first rectangle on MT4 is a bearish engulfing candle while the oanda chart bear candle (open) is NOT higher then the previous bull candle (close). Thus NOT engulfing candle on the oanda webcharts.
Although the charts are close but not exactly and only close.

Second rectangle on MT4 charts has a nice bullish engulfing candle with the bull open lower then the previous bear close.
But not on the oanda web version. On the web version the bullish candle open is NOT lower then the previous bear close making it just a bullish candle not really an engulfing.

Some candles appear to be bull and on the other chart might be a doji or something different.

Third rectangle on the MT4 charts shows bearish candle opening lower then the previous bull close, but the web version shows a bearish engulfing that opens higher then the previous bull close making it a true engulfing candle.

Pretty big difference

some candles have wicks on the top or bottom on one chart while not having them on the other chart

EURUSDM5_MT4.jpg700×255 30.1 KB

EURUSDM5_web.jpg700×283 28.2 KB

P.S
I have other issues on this too. My code does not seem to find what I’m looking for. Likely a code problem at least I think so.
I don’t see the flaw but I noticed after the test that the candles on the MT4 charts did not exist. Only today are any engulfing candles on the MT4 charts. However, the charts are also different and suppose to be the same feed ?
Anyhow FYI

9

Are you connecting to the same account with the web and MT4. If not, is it one a real account and the other a demo account?

10

Hi Agent86,

MT4 is using bid candlesticks, and the “Candlestick” chart on our Java GUI uses midpoint candles which means the prices shown will not be the same. For a more direct comparison, try using the “Bid Candlestick” chart instead. Let us know if that works!

Cheers,
Bernice

11

Yes same account,

I did notice the web version also uses 5 digits but actually shows 4, with a micro digit next to the 4th, where MT4 is a flat 5 digits

I guess that is the same except visually though.

12

The oanda charts show bid and ask prices actually having 2 lines but that should not change the look of the candles themself unless the candles were actually showing midpoint.

But anyhow I did confirm both the MT4 and web version both using bid candles as far as I can tell.