MT4/MT5 discrepancy

options-george

Well-known member
483 92
Weekly candles on FX charts.

To me it looks as if MT4 takes into account the hour of trading activity on Sunday night (10pm to 11pm London time) for forming the weekly candle, whereas MT5 does not take this info into account.

As an example, on Friday 11th Oct EURJPY closed at 133.49. On MT5, the weekly candle shows a close of 133.49.
On Sunday night (13th Oct), EURJPY was trading 133.08 at 11pm (or midnight, doesn't matter for this purpose). The MT4 weekly candle shows a close of 133.08, taking the Sunday night activity into account.

This then also impacts on the calculation of technicals, such as stochastics, for the weekly chart.

Ideally I would like to align MT4 and MT5 (I prefer the MT5 method). Has anybody else noticed this? Would I be able to change a setting on MT4 in order to accomplish this alignment between MT4 and MT5?

Many thanks in advance,
George
 

WR1

Active member
206 9
not sure if this helps at all
but some MT4 Brokers include the Sunday candle and some don't

so unless you ve already done so - you may need to download and test alot or few different MT4s
and find one or a few without the Sunday candle,
only trouble then is the MT4 without the Sunday may have a strange GMT Broker offset, which i find stuffs up the indicators the most

some like the Sunday candle, some don't
both have their advantages
 

options-george

Well-known member
483 92
WR1, thanks for your reply.

So if I understand you correctly, the data that the candle encompasses, is driven by the broker's settings rather than whether it is MT4 or MT5? I am using MT4 & MT5 with the same broker [ActiveTrades], one demo account (MT4) and one real account (MT5) - this made me think that it is to do with the platform rather than the broker.

I will try to follow this up with my broker one more time.
 

WR1

Active member
206 9
that's correct
i've double checked as well on the main two i use, one has the Sunday candle and data and the other does n't

nothing can be changed on the MT platforms from our side regarding candle closes and GMT offsets, unlike other packages
its all on the Brokers side with Metaquotes, so the best option is to just download as many demo accounts as possible and see whats best

Google MT4 unlimited Demo accounts and various links and options usually appear, although it does take a while to check them all

i would mention the one i have, but some brokers already have slow servers, so might get even slower if everyone uses the same
 
 
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