Topic: Question about relationship between OnTick() and Back Testing data
I'd like to better understand the relationship between the data that an EA receives with every call to OnTick() in a live account and the *.csv data that FSBPro uses when back testing and optimizing. I definitely have some misconceptions of how things work and I'm hoping that by asking several questions then it will become more clear.
Let's suppose I use FSBPro to create a strategy that trades on the H1 time period:
Question #1: When my strategy trades in a live account it receives many frequent calls to OnTick(). Since mine is an H1 strategy then that means an OHLC bar is formed only once per hour -- is that correct? Or, is it that Open and Close are updated only once per hour but High and Low are updated with every tick?
Question #2: If my strategy uses 'Bar Opening' and 'Bar Closing' then do I really need all the OnTick() calls? Does it waste a lot of CPU to keep calling OnTick() and executing the code for each indicator when, in the end, my strategy is only supposed to execute once each hour?
Question #3: Suppose my strategy uses 'Bar Opening' and 'Bar Closing'. And suppose some of the indicators use a 'Base Price' other than Open or Close -- i.e. they use High, Low, Median, Typical or Weighted. Does that mean I really do need the OnTick() data because High, Low, Median, Typical and Weighted will change with each OnTick()?
Quesiton #4: If my indicators use a 'Base Price' of High, Low, Median, Typical or Weighted but my time period is H1, then does that mean it is possible a trade could open at any time as long as the indicator's conditions have been satisfied?
Question #5: I use EURUSD60.csv when back testing my strategy. This data set includes OHLC values for each hour but does not include "tick" data. In a live account the tick data can influence High, Low, Median, Typical and Weighted. Could this partially explain why my back testing results often do not match with live trading?
Question #6: I would like for back testing results in FSBPro to match as closely as possible with live trading. To achieve this, does it make sense to follow the rules below?
a. Always use 'Bar Opening' and 'Bar Closing'.
b. Only use 'Base Price' of Open or Close (i.e. never use High, Low, Median, Typical or Weighted)
Question #7: Is it possible to add a little bit of code to the beginning of OnTick() so the strategy ignores all calls to OnTick() unless they occur at the end of the H1 time period? In other words, would this make the live data appear more similar to the back testing data in the EURUSD60.csv file?
Would appreciate any insight. Thanks...