There are many procedures available over internet, how to get 99.9% Modeling Quality Tick Data for back testing on MT4. Here I will share a simple method which is explained here in details. I will copy the same step wise with minor changes.
Step 1: Install Separate MT4 Platform
Install a new separate MT4 platform of your broker and keep it only for back testing purpose and don’t use this for trading. You don’t need to download history data from MT4 and also no need to load any charts. Just log in using demo or real account but don’t change the account later. Keep in mind, you need more or less 10 GB space in your hard drive to download 1 year tick data of one pair.
Step 2: Download Data
Download and install StrategyQuant’s Tick Data Downloader. After completion of installation, select configure and uncheck “Remove Weekend Data” and “Automatic Export to CSV” in case these are checked. Chose your time zone and press Ok. Now “Change Download Range” and chose your dates (depends how many years of data you need). After that, select your pair/s and press “Start Download”. It will take time based on number of years. (One paid takes approximate 5-8 minutes to download 1 year data).
By default setting, data will be saved at this location; C:\TickDownloader\tickdata\
Step 3: Export Data to MT4
Download and install Tickstory Lite Ver 1.5.3 is free, but if you have extra cash, you can buy latest version. After installation, copy (always chose copy and don’t select Cut) your pair folder from C:\TickDownloader\tickdata\ and paste it into Tickstory Lite data location, C:\Users\UserName\AppData\Roaming\Tickstory\Tickstory Lite\Data. For example, for EURUSD, copy complete folder and paste it here.
Now open Tickstory Lite, you will see that same date range is being displayed in front of EURUSD which you selected in StrategyQuant’s Tick Data Downloader. Go to File\Setting\MT4 Setting\ and select MT4 Installation and MT4 Data folders of your platform which you installed only for back testing.
Now, right click on EURUSD (or your pair) and chose “Export to MT4”, a new window will appear with 3 tabs. Go to last tab “Help” and follow the instructions. Press “Deploy MQ4” and an EA file will be generated in “YourBroker\MQL4\Experts” Open your MT4 Platform, open chart of same pair (e.g. EURUSD) and place this EA on that chart. If market is open and you see a smiley face in top right corner, a new file will be generated in “YourBroker\MQL4\Files”
Now again; go to same setting of “Export to MT4”, go to second tab “MetaTrader Info” press Load and select the new generated file from “YourBroker\MQL4\Files”. In this file, broker shares important data (spread, leverage, pair digits, commissions, swap, pip value etc) with Tickstory lite to be considered while data export. This file need to be generated for every single pair separately.
Select first tab “Data export”, chose the same date range what you selected earlier, check “include weekends”. You are almost done. Before pressing OK, make sure, MT4 Output section at the end is correct. (Mt4 Installation address, Server Name, HST and FXT directory)
HST Directory Example: C:\Program Files (x86)\Your Broker MT4\history\Demo 2
FXT Directory Example: C:\Program Files (x86)\Your Broker MT4\tester\history
Press Ok and data will be exported to your MT4 platform.
Step 4: Make Data Files Read Only
Once data exporting process complete, close your all apps (MT4 platform, Tickstory lite etc) and go to your HST and FXT directories (mentioned above), select all files, right click, properties, check “Read Only” and then OK. If read only box is filled with grey box, then you need to double click to check (you must know such basics).
Now you are ready to start back testing. Open MT4 Plat form, open chart of the same pair, press Page Up button and it will easily scroll back chart to your start date. It confirms the data copied successfully. Now you can delete data from below given directories to save space.
Back test any EA, and you will see full Green bar and 0 mismatched chart errors. In back tests, you will see “Modeling Quality” n/a instead of 99.9% but it doesn’t matter as you will see full green line and 0 mismatched chart errors. To get 99.9%, you need to purchase latest version of Tickstory and then open MT4 terminal from inside Tickstory. When you can export data with manual procedure, why should you pay to get this number only when results are same.
Kindly let me know, if I missed some important step. Also kindly share what is your method to download reliable tick data. There are some drawbacks in above method (like slippage is not considered). Your feedback will be highly appreciated. Thanks