History Center on Tools Menu on MT5 Software
The history center in MetaTrader 5 is located on the tools menu. History center will begin to store data for every chart that you open on the MetaTrader 5, This means that if you open the CFD Trading MT4 Symbol M15 chart, then from that point on the MetaTrader 5 history center will store information for this CFD Trading MT4 Symbol time frame and every time you login again to the platform to trade this information will be updated with the most recent cfd prices & will then stored.
This also means that for any other chart not opened on your MetaTrader 5 the platform will not start to save data for that chart. For example if you only open M15 for CFD Trading MT4 Symbol only information for M15 will be stored, and not for CFD Trading MT4 Symbol 1H or CFD Trading MetaTrader 4 Symbol 4 H chart. Therefore, if you want to start saving records for 1 H & H4, then you must start by opening these time-frames & the data will begin to get saved from this point.
In the cfd example shown below, the CFD Trading MT4 Symbol Time frames are Shown, However only M15, H1 and H4 Icons are marked yellow and Green meaning data is being saved and updated to the History center. All the others are Gray in color, meaning they have not yet been opened on this cfd platform. To change this and have these charts start to update and have the cfds price information saved, just open any time frame for the CFD MetaTrader 4 Quote, for example the 30 minutes and the Icon for this timeframe will immediately change from Gray to Yellow & Green, do the same for all the others.
From the above example you can see the format that MetaTrader 5 uses to store cfds price data information as figures, these figures are the ones used to replicate the trading chart.
Why Use The MetaTrader 5 History Center
Because of the format of storing data in figures it means that these figures can be analyzed using mathematical formulas & mathematical techniques can then be used to trade by interpreting cfds prices.
These Mathematical techniques are implemented for trading using computer programs. Computer programs will be coded using these mathematical techniques & formulas. This will produce what in programming is known as algorithm, these algorithms are implemented in MetaTrader 5 using programs known as Automated CFDs Expert-Advisors - Automated CFD Programs.
This Automated CFDs Expert Advisors answer the question why the need for the History center? The information stored is used by cfds traders to test their automated CFD Automated CFDs Expert Advisors to get an idea of how these EA CFD Robots would have traded and then determine whether they are profitable or not. If these are profitable, traders implement these automated systems on the real market, if not then the trader changes their mathematical formula and reprograms the algorithm, then tests this new algorithm with the same data on the history center until the time the trader will program an algorithm that is profitable enough to trade the live CFD market and make profitable trades.
One of the methods of obtaining data to the history center is to download this information using the download button key as illustrated & shown below: However, this downloaded figures tends to have gaps & give inaccurate information, therefore as a trader it is best to use data that has been downloaded by the platform itself after installing it. That means the information that is available from when you downloaded the platform & started to trade with it, even if it is a few weeks or a few months.
If you want to begin testing these Automated CFDs Expert-Advisors then for every cfd you trade you must open that cfd instrument, as well as opening all the time-frames of that cfd instrument, that is the following:
- 1 Minute - M1
- 5 Min - M5
- 15 Minutes - M15
- 30 Minutes - M30
- 1 Hour - H1
- 4 Hours - H4
- Daily - D1
- Weekly - W1
- Monthly - MN
When it comes to testing your Automated CFDs Expert Advisor, select the start date as the date when you will execute the above operation of downloading all the data for these cfd chart timeframes, so as to make sure your Automated CFDs Expert Advisors are using correct data and give you the right results.
Because of this reason you should not download any data on your MetaTrader 5, just use the data that's available after you open the charts as displayed above and begin from that point onwards.
