Support Board
Date/Time: Thu, 06 Feb 2025 09:10:57 +0000
Post From: SierraChart to MetaTrader 4 bridge
| [2018-08-20 10:51:45] |
| bjohnson777 (Brett Johnson) - Posts: 284 |
|
Here's the generic long answer that's pretty much true for any 2 trading services... ---------------------------------------- In studying for my own private system, a number of problems came up with chaining together 2 different charting packages... * Humans can easily read charts and quickly grasp abstract chart concepts. Computers are stupid and everything has to be programmed from the ground up. Even with that, computers still aren't very bright. * There is no chart synchronization. MT is well known for chart manipulation. At the very least, they manipulate the spreads to offer "cheaper" trades. At the worst is stop running. When the "bad" happens, most brokers will argue Forex has no centralized server like stocks, so there will definitely be notable differences that "suddenly appear for no reason". * The 2 different charting packages would have to have a bidirectional communications channel. Since both sides would run inside a study and NOT a standalone program, any time the chart reloads, they have to resync and start all over again. A study is a very limited execution environment and not a full program. * If there's some kind of dropped communications, both charting packages would have to start over and resync everything as mentioned above. If one chart loses communications and the other doesn't, that has to be accounted for. If one chart starts getting severly delayed quotes and the other doesn't, that has to be accounted for. If one chart gets bad data and the other doesn't, how would the program know which to believe? * If either charting package gets confused, it will likely exit the trade too soon and at a very bad point where you'd lose a lot of money. Murphy's Law. * MT4 uses a triggered trailing stop, which is a bit abnormal. Both charting packages would need to use some kind of manual trailing stop management along with other safeties. Some services limit the number of stop updates to a trade per minute. They do this to keep people from mindlessly overloading their internal trading systems. Any chart linking would have to be aware of this. * Service linking might be OK for swing trades or longer, but for intraday forex and stock day trading, the lag would be a serious problem. * There would be no easy way to back test linked services. It's more of a "start and pray" setup where you'd hope it works the first time like it's supposed to. * Put all this together and this becomes partially blind buying/selling and you're likely to lose thousand$. * In the end, it would be way cheaper and safer to go with an SC supported broker. * If you do find a program for chart linking that claims miracles without taking any of these points into consideration, be prepared to lose thousand$ the first week. ---------------------------------------- I hate to be the barer of bad news, but this is about the most complete and in depth answer I can give to this problem. On the personal front, my health is still getting worse and doctors don't care. I've been quite busy with electronics and microcontroller programming to build some of my own health equipment. Suffering from constant and severe sleep deprivation, none of this gets done very fast. :-( |