equity recorder for synthetic instrument research
Info
The equity recorder for synthetic instrument research is a Expert Advisor for MetaTrader 4 that this tool is designed to prepare data for synthetic instrument research, enabling the combination of real instruments into portfolios or baskets using external tools like excel, statistica, spss, sas, r, and similar. the research primarily involves building a regression model from time series data representing the equity movements of these instruments.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use equity recorder for synthetic instrument research
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
this tool is designed to prepare data for synthetic instrument research, enabling the combination of real instruments into portfolios or baskets using external tools like excel, statistica, spss, sas, r, and similar.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: equity tester - another powerful expert for MetaTrader 4 traders.
this tool is designed to prepare data for synthetic instrument research, enabling the combination of real instruments into portfolios or baskets using external tools like excel, statistica, spss, sas, r, and similar.Also recommended: equity data exporter - similar expert with strong performance on MetaTrader 4.
the research primarily involves building a regression model from time series data representing the equity movements of these instruments.
this tool is simple and intuitive, automatically accounting for spreads and swaps during testing. it operates efficiently, providing quick results.
it functions as a standard expert advisor, opening a single trade to simulate a buy&hold or sell&hold strategy. with each new bar, it records the equity value in a csv file, maintaining a comprehensive history of equity movements.
the tool currently records data only at the close of each bar, making the implementation of open, high, and low values more complex. however, the close value is often sufficient for most use cases.
the primary purpose of this tool is to model the combined behavior of instruments in a multi-currency basket. multi-currency trading aims to create a synthetic instrument by simultaneously buying or selling multiple currency pairs. to analyze the equity movement of multiple instruments, you must sequentially export equity values for each instrument and then consolidate the data into a single tabular file. since multi-currency testing is not possible with mt4, you need to run the expert advisor on the tester for each instrument on the desired timeframe. the advisor opens a single trade and records equity changes for each bar, saving the file in the tester\files folder.
parameters:
- magic: a standard magic number.
- balance: initial balance, which should match the 'deposit' setting in metatrader 4's tester settings to avoid subsequent adjustments in excel.
- position: lot size and direction (buy for positive, sell for negative).
- start: starting point for equity movement registration.
recommendations:
avoid using the 'all ticks' mode, as it slows down the process.
updated version:
the latest version includes a file header with the instrument symbol, making it easier to consolidate multiple files in excel. lot size and direction are now set using a single 'position' parameter.
You may also like: close by equity percent - excellent alternative for expert users on MetaTrader 4.
Source Code
#define copyright "simple buy/sell and hold - for equity recording - by transcendreamer"
extern int magic=13123123;
extern double balance=5000;
extern double position = 0.01;
extern datetime start = d'2009.01.01 00:00';
bool opened=false;
datetime savedtime=0;
void init()
{
int handle=fileopen(symbol()+period()+"_equity.csv",file_write|file_csv);.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.