A question about Time function EA's

Question 1)

Hi Guys, I have a question about the time frame used by FSB.  By looking at different NFP events during summer (DST) and winter (No DST), one can deduce that the FSB time frame is UTC/GMT.  This means that the data does not change or take into account the 1 hour offset during the summer and winter time transitions, while the broker does.

To put it simply, in FSB, NFP occurs at 13:30 during Winter and 12:30 during Summer.  However the broker times are always consistent, so for example my broker (Alpari) has NFP date stamp at 15:30, Winter or Summer.

Knowing this, if one creates a time function strategy, the FSB data should not be used, but one should use the brokers data.  I guess I could use the FSB data, if I create two versions of the strategy, each one catered towards the summer and winter hours.  Is this reasoning correct, or is there some program function in FSB that changes the UTC data during the one hour offset, so it will be consistent throughout the year? 

I presume it will always remain offset by one hour, and for time function EA’s, one must use the broker’s data.

Question 2)

I was reading in one of Blaiserboy’s post that he uses MT5 data.  Is MT5 data different or in any way better than the data downloaded from MT4?

Cheers, Pete.

The best practice is to use data from your MT account.  If we modify the time in the FSB data, the backtest will not correspond to the MT trade later. Some broker apply Daylight saving time on their data and it reflects on the backtest in FSB especially when we use Time indicators.

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"Is MT5 data different or in any way better"
Yes, I can also confirm that downloading files form MT5 is a little bit easier. You don't need to load data in the charts with the "Home" key fore every period.

Anyway, I'm using MT4 data most of the time because the programming is somewhat easier and allows using several experts on a chart. However, this changes with the MT5 hedging accounts (once I figure out all current problems with it).

Hi Popov

I am testing your FSB program and have created a EURUSD 1H system. I have exported it to mt4 and run it.

In FSB there is a "day closing" criteria for exits. In FSB journal tab you can see the positions close at 23:00 daily (as they should). However when the mq4 is run on MT4, the trades do not shut at end of day (they continue on for months at a time).

I watched your youtube video about the end of bar issue - and adjected the seconds before end of bar variable as part of the code - but that made no difference. I also tried control points and that didn't solve the issue either.

Is there a way to have it work in MT4 correctly? And is it a backtesting only issue ? Will it work correctly live?

THX

Hi Popov,

I am running the EA on a small account to test and it didn't shut at end of day today either (it mightn't have met the criterea). Everything appeared ok with the opening.

Here is the EA: https://expirebox.com/download/b40879324aefe56744c9442a9fc6f1a9.html

Here is the trade journal from FSB: https://expirebox.com/download/c4b048aba1c4db9643f6da079218a6af.html

Hope that helps.

Hey Bruce, welcome to the forums
Your download link is dead, check it out.

"Oops! File Expired or Deleted.."

You can add an script direct in the forums or post screenshort too. 

Btw did you try using different time ranges to see if the problem still persists?

I found a script for MT5 data .
It is running now.

Txs.