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Software News

MT4i's Custom Timeframe Generator Can Now Force Simulated Ticks on Offline Chart

Nov 27 2012

MT4i - a website that provides downloadable trading tools free of charge, has just introduced an upgrade of its Custom Timeframe Generator app. The application is compatible with the Metatrader 4 (MT4) platform and is available for download here

MT4 is the forex industry’s most popular trading platform for a number of reasons. Brokers choose to go for it as it is easily customizable and allows them to be quite flexible in their offering. Traders prefer to transact via MT4 because the platform is quite easy to navigate, yet it features everything one needs for their trading. 
MT4 offers a number of features and tools to enhance trading: Expert Advisors (EAs) and automated trading, strategy back-testing capabilities, technical indicators, etc. The platform’s most valuable feature is perhaps its sophisticated built-in charting package. MT4 comes with pre-loaded line, bar and candlestick charts, all of which are available in different time frames: one-minute, five-minute, fifteen- and thirty-minute time frames; there are also 4-hour, daily, weekly and monthly charts. 
While certain brokers with proprietary platforms – take Oanda for example – offer different time periods for their charts, the ones I listed above are the most popular ones, offered by most brokers. Some traders, however, prefer to analyze custom time slots – let’s say 3 minutes. To do so, they would have to create a custom tool, or to download one. Here is where MT4i’s Custom Timeframe Generator app comes in quite handy. The purpose of the app is to create charts for time periods set by the user – for example 2 hours, 3 months or 10 seconds. The app can create tick charts as well.
The latest upgrade of the Custom Timeframe Generator now lets the EA to force simulated ticks on offline charts. Traders who employ technical analysis will be able to benefit from this feature as it allows them to create a one-hour chart that is 5 hours behind broker time for example. 
Along with this, the Custom Timeframe Generator EA can also be used for range bar charts: users can define ranges – let’s say 10 pips – and the app generates a chart, where all candlesticks are of the same range (10 pips in our example); the time duration then varies depending on the time necessary for a 10-pip movement to occur.  

About MT4i

MT4i is a company dedicated to delivering institutional-quality software and services to brokers, traders and developers worldwide. MT4i's software and services have been designed in response to a real need in these markets and in many cases have been customized to meet specific user requirements.
MT4i's main activities include web publishing and software development. The company is running one of the largest free web publishing and analysis sites offering value-added services to traders in over 120 countries worldwide.


TAGS: Expert Advisor  EA  MT4  MT4i  forex software  forex trading app  Oanda  chart timeframe  candlestick chart  tick chart 

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