History Center on Tools Menu in the MT4

Find the MT4 history center under the tools menu. It holds data for each open chart. Load an indices M15 chart, and it logs that time frame's info. Log in again, and it pulls fresh prices while saving old ones.

This also means that the platform won't start keeping data for any chart you haven't opened in your MT4. If you only open M15 for Indices, it will only save information for M15, and not for Indices 1H or Indices 4H. So, if you want to save data for 1 Hour and H4, you must open those timeframes, and data will start saving from that point.

In the trading illustration demonstrated below, the timeframes applicable to Indices are depicted. Nevertheless, only the M15, H1, and H4 icons are highlighted and marked in yellow and green, signifying that their associated data is actively being saved and refreshed in the History Center. All other timeframes appear in gray, indicating they have not yet been accessed within this trading platform. To rectify this and commence updating the price data for all charts, the user simply needs to open any desired timeframe for the Indices, such as the 30-minute chart. Doing so will instantly cause that specific timeframe's icon to switch from gray to yellow and green: this process should be repeated for all remaining charts.

The example above shows how MT4 stores trading price data as numbers. These figures recreate the trading chart.

Why Use the MetaTrader 4 History Center

Data stored as numbers lets you apply math formulas for analysis. Traders use these tools to study price changes and make market trades.

These math ideas are used for trading with computer programs that trade automatically. Computer programs that trade on their own are made using these math ideas and formulas. This creates what is known as an algorithm in coding, and these algorithms are used on MT4 with programs called Expert Advisors (EAs) – programs that trade automatically.

This section pertaining to Expert Advisors (EAs) addresses the utility of the History Center. The archival data within this feature assists stock traders in the appraisal of their automated Stock EAs. They possess the capacity to review the hypothetical historical performance of these Automated Trading Robots, subsequently determining their potential profitability and suitability for various trading methodologies. Should these automated programs demonstrate viable profitability, traders gain the opportunity to deploy these systems in the live trading environment. If the programs prove unprofitable, traders undertake revisions and modifications to the trading logic embedded within their algorithms, reprogramming the automated routines. Following these revisions, traders subject the newly adjusted automated trading algorithm to testing against the identical dataset within the History Center. The overarching objective is the successful coding of an algorithm that generates sufficient profit to warrant deployment in the live market for executing successful trade positions.

One way to add data to the history center is by downloading it, as illustrated below. However, this downloaded dataset often contains gaps and provides inaccurate information. As an indices trader, it's recommended to use data directly fetched by the trading software after installation, ensuring greater accuracy. That means the information that is available from when you downloaded the platform and started to trade with it, even if it is a couple of weeks or a couple of months.

If you want to start testing these Expert Advisors then for every trade that you trade you as a trader must open that chart, as well as opening all the time-frames of that chart, that's the following:

1 Min - M1
5 Min - M5
15 Min - M15
30 Minutes - M30
1H - 1H
4 Hour - H4
Daily - D1
Weekly - W1
Monthly - MN

When preparing to test your Expert Advisor (EA), set the starting date corresponding to when you successfully download all the requisite data for the various chart timeframes and different MT4 symbols. This meticulous step ensures your EAs utilize accurate information, thereby providing reliable and correct back-testing results.

Skip downloading extra data to MT4. Use only the info from open trading charts above. Start your work from there.

More Topics and Courses:

Trade Stock Indices

History Center on Tools Menu in the MT4

Why Use the MetaTrader 4 History Center