MetaTrader 5 History Center: Tools Menu

You can find the history center in MT5 under the tools menu. The history center in MetaTrader 5 will start saving information for every trading chart you open. For example, if you open the M15 chart for an MT4 symbol, the history center will start saving data for that time frame. Every time you log back into the platform, this data will be updated with the newest bitcoin prices and saved.

This also means that if you haven't opened any other chart in your MT5 platform, it won't begin to save data for that chart. For example, if you only open the M15 chart for an MT4 symbol, only information for M15 will be kept, not for the 1H or 4H charts. Therefore, to start saving data for the 1H and 4H charts, you need to open those charts first, and then the data will start saving from there.

In the trading example shown below, the MT4 Symbol Time frames are Shown, However only M15, H1 & H4 Icons are highlighted yellow and Green meaning info is being saved and updated to the History center. All others are Gray in color, meaning they haven't yet been opened on this btcusd platform. To change this and have these charts start to update and have the bitcoin price information saved, just open any time-frame for the MT4 Symbol, e.g. the 30 minutes & the Icon for this timeframe will change immediately from Gray to Yellow and Green, do the same for all others.

From the example above, you can see the way MT5 saves bitcoin price data as numbers: these numbers are what are used to recreate the trading chart.

Why Use the MT5 History Center

Because of the layout of storing data in numbers it means that these figures can be analyzed using mathematical formulas and mathematical techniques can then be used to trade by interpreting bitcoin prices.

These ways of trading using math are put into action for trading with computer programs. Computer programs for automated trading will be created using these math ideas and formulas. This will create what is known as an algorithm in coding, and these algorithms are used on MT5 with programs called Automated EAs - Automated BTCUSD Programs.

This Automated EAs answer the question why the need for the History center? The info stored is used by traders to test their automated Bitcoin Trade Automated EAs to get an idea of how these Expert Advisor Bitcoin Robots would have traded and then determine whether they are profitable or not. If your automated trading systems are showing profitability, you can implement them in the live trading market. If not, you may need to adjust your mathematical formulas and reprogram the trading algorithm. Test the revised algorithm with historical market data until you develop a profitable system that can effectively operate in the live BTC/USD market.

One of the methods of obtaining this price data on to the history center is to download it using the download button key like illustrated and shown below: However, this downloaded figures tend to have market gaps & may give inaccurate algorithm testing information, hence as a btcusd trader it's best to usethe data which has been downloaded by the trading platform itself after installing & setting it up on your computer. That means using the the information that's available from the time when you downloaded the platform software & started to trade with it, even if it's just a couple of weeks or just a couple of months.

To commence testing these Automated Expert Advisors (EAs), for every bitcoin trade executed, it is necessary to have the corresponding bitcoin chart open, along with all its respective timeframes displayed, like so:

1 Minute - M1
5 Minute - M5
15 Minute - M15
30 Minute - M30
H1 - 1H
4 Hour - H4
Daily - D1
Weekly - W1
Monthly - MN

To make sure your Automated EAs are utilizing accurate data and producing the correct results, choose the start date as the day you will carry out the aforementioned process of downloading all the data for these chart time-frames when testing your Automated Bitcoin Trading Automated EA.

Because of this reason/explanation you should not download any data on your MetaTrader 5, just use the data that is available after you open the charts just as is shown above & start from that point onwards.

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MetaTrader 5 History Center: Tools Menu

Why Use the MT5 History Center