I have been trading Forex for over 7 years now, and been through a number of platforms, although in that time I probably barely scratched the surface. started with metatrader, ninjatrader. opened my first and only account with oanda after two years of training and using demo. anyways after all these years I finally got some training from a very talented trader who retired, the method I learned from him is very complicated and although he taught me to use metatrader to practice it I find metatrader 4 and 5 are absolutely abysmal and make sustaining my charts near impossible.
metatrader 4's pros:
allows me to use custom timeframes by using some period converters.
contains years and years of forex data that is essential for establishing cycles. (most data providers i find seem to cut off at 2 5 or even 10 years max. gbpjpy goes back 30+ years)
cycle lines tool, absolutely essential!
lines have labels. if they didnt its easy to lose track of what the line is, and copying a line retains the label.
lower time frame data is deleted by the broker after period of time(why they chose to remove my data is beyond me) this causes gaps in charts that should never be there.
some bars never show up because no tick! which is counterproductive on a time based chart.
after drawing too many objects the whole platform starts wigging out./ objects start bouncing around when you click on the charts even from stuff days away on a 5 min chart.
can use any time frame you want, from seconds minutes days years whatever!
indicator windows top or bottom, really handy for charting some lines without cluttering the price chart, which makes my trading method easier.
limited history data from providers, even the paid for providers seem to not want to go back very far on low or high time frames.
no cycle lines tool! really? even went to the nt forums and it just says they dont support it. makes this platform completely worthless. the closest i found was the time line tool but that thing crashes the virtual machine I run windows on.
and yea it doesn't support labels as part of the drawing tools like lines, you have to use a separate text to label.
so obviously I need
a ton of data preferably, and i know thats a data provider issue.
cycle lines tool!
labeled drawing objects that are capable of storing globally (change time frame it still there)
ability to record object position in relation to cycle line tool and time frame would be sweet but I am used to calculating that by hand to excel.
blank indicator windows positional above and below charts for object placement to keep the price chart clean.
many many time frames, I use more than what mt4/5 come with and mt5 doesn't give custom time frames at all.
I'm sure I am asking too much, multicharts doesnt even have cycle lines tool, this still shocks me a crappy free Russian platform has it but not the high priced ones like multicharts and ninjatrader..
Last edited by Dracozny; August 14th, 2011 at 01:18 AM.
yea unfortunately that is extremely counter productive as I would need to draw hundreds if not thousands of them which has the increased probability of errors. the lack of suitable drawing tools and lack of chart history is why I am trying to move away from Ninja. the glitches and errors in charting with metatrader as well as the horrible chart data that is deleted and altered by the dealers is why I want to stay away from it.