History Center on Tools Menu on MT4 Platform Software

Find the History Center on MT4 in the Tools menu. It saves data for each chart you open. For example, open the Bitcoin M15 chart, and MT4 starts storing that timeframe's info. Each login updates it with fresh bitcoin prices and keeps the records.

This also tells us that if you haven't opened a certain chart on your MT4, the system won't begin saving any information for that specific chart. For example, if you only open the M15 chart for Bitcoin, only the data for M15 will be saved, not for the Bitcoin 1H or Bitcoin 4H charts. Therefore, if you want to start saving data for 1 Hour and H4, you, as a trader, must first open these time frames, and the data will begin saving from that moment on.

In the trading example shown below, the Bitcoin time frames are visible, but only the M15, H1, and H4 icons are marked and labeled in yellow and green, meaning the information is being saved and updated in the History center. All the other icons are gray, meaning they have not been opened yet on this bitcoin trading platform. To change this and start updating these charts and saving the bitcoin price information, just open any time frame for Bitcoin, such as the 30-minute time frame, and the icon for that time frame will instantly change from gray to yellow and green: do the same for all the others.

Observing the preceding illustration reveals the structure MT4 employs for recording bitcoin price data numerically: these figures are precisely what generate the trading chart visuals.

Why Use the MT4 History Center

Data stored as numbers lets math formulas break it down. Traders then use these insights to predict and trade bitcoin price swings.

These Mathematical techniques/methods are implemented for trading using computer trading programs. Computer automated programs will be coded using these mathematical methods & formulas. This will produce what in programming is referred to as algorithm, these algorithms are implemented in MT4 using programs known as EAs - Automated Bitcoin Programs.

This EAs answer the question why the need for the History center? The information stored is used by BTCUSD traders to test their automated Bitcoin EAs to get an idea of how these Expert Advisor Bitcoin Robots would have traded and then determine whether they're profitable or not. When traders find these methods to be profitable, they deploy these automated systems in the live market. If they are not successful, traders will adjust the mathematical formulas and calculations within their trading algorithms, reprogram them, and then test the revised algorithms using historical market data in order to eventually create a profitable trading algorithm suitable for the live market.

One method to obtain data for the history center is by downloading this information using the download button, as illustrated below: However, the figures obtained through this download often contain gaps and may provide inaccurate information. Therefore, as a BTC/USD trader, it is advisable to utilize data that has been downloaded directly by the platform after its installation. That means the info that's available from when you downloaded the platform & started to trade with it, even if it's a couple of weeks or a couple of months.

If you want to start testing these EAs then for every bitcoin trade that you trade you must open that bitcoin chart, as well as opening all the time frame of that chart, that is the following:

1 Minute - M1
5 Minutes - M5
15 Min - M15
30 Minute - M30
H1 - H1
4 Hour - 4H
Daily - D1
Weekly - W1
Monthly - MN

When it comes to testing your Expert Advisor, choose the start date as the date when you'll execute the above operation of downloading all the data for these crypto chart timeframes & for different MetaTrader 4 symbols also, so as to ensure your EAs are using correct info and give you the right results.

Skip downloading extra data for MetaTrader 4. Start with what's on the charts shown. Jump in from there.

More Topics and Courses:

Trade Bitcoin Trading

History Center on Tools Menu on MT4 Platform Software

Why Use the MT4 History Center