- Q. If I am not at home and my algo is running, does my computer has to be on all the time or is it enough that he is connected with the internet?
- Q. Where can I download MT4?
- Q. Why should I run the Algos on a VPS?
- Q. Where do I get a VPS and how do I set it up?
- Q. Why are you not using TradingView for the algos?
- Q. Can I use MT4 and the algos in Mac?
- Q. Which tools do you recommend for high-quality backtests?
- Q. What is CAGR/MaxDD and where do I find it?
Q. If I am not at home and my algo is running, does my computer has to be on all the time or is it enough that he is connected with the internet? #
A.This depends on the platform the algo is run on:
- For MT4, MT5, and most trading platforms the algo is run locally on your PC (or a VPS)
This means that it's like any program on your PC, it has to be on, connected, with the program running and the algo also running inside the platform for it to work.
- A VPS is recommended but if you don't want to leave your PC on all the time and make sure that you don't accidentally close it that is ok too.
- Some services such as TradingView and other cloud-based platforms tend to run the scripts and systems on the cloud instead of locally which means that you don't need your device connected once you set up their cloud alerts. (this is the case for TradingView alerts)
Q. Where can I download MT4?
A.MT4 can be downloaded from the websites of any broker that offers accounts with that platform.
Do not attempt to download the MT4 platform the metaquotes as that will download MT5 instead.
Q. Why should I run the Algos on a VPS?
A.In order for MT4/MT5 algos to run the computer, terminal and algo have to be running, this means that if your computer restarts, loses power or you accidentally close the application your algos will stop running.
In order to ensure that your algos are running 24/7 its best to get a VPS service that runs on the cloud and won't be affected by your personal computer use.
You can learn more about it in this video from the General Documentation.
Q. Where do I get a VPS and how do I set it up?
A.Our recommended VPS provider is Accuwebhosting Forex VPS as it is reliable and offers a good price for a managed server.
Some brokers also provide discounted or free VPS services so you may want to check that option too if you are eligible.
Depending on the VPS provider the process can be really simple or a bit more complex
We made an article in our General Documentation to explain the Basic setup for Managed VPS services.
Q. Why are you not using TradingView for the algos?
A. At the moment TradingView doesn't have any native auto trading support so no algo can trade directly into your broker account from TradingView.
You can use algos for alerts that then get passed to a 3rd system that then either connects with another platform or to the broker to do auto trading. As you can see this has way too many layers of complexity and potential complications to deal with for the average user.
Q. Can I use MT4 and the algos in Mac?
A.You can, but it does not run natively. MT4 is a windows app and on Mac, it runs via a compatibility layer. A future update of the Mac operative system or hardware could break this compatibility.
At the moment compatibility layer seems to work well and be able to run algos properly but it's always recommended to run them through a Windows VPS to ensure the service is running 24/7.
Q. Which tools do you recommend for high-quality backtests?
A. Our recommended software for high-quality backtests is Tick Data Suite which is extremely powerful and saves a lot of time and headaches when working with tick data compared to other paid and free options. It even has functions that improve MT4 own backtesting capabilities to simulate much more realistic market conditions.
In Module 4 we have a showcase of how to use a free Quant Data Manager as well Tick Data Suite however, we strongly recommend you to use Tick Data Suite which is much more powerful and saves a lot of time and headaches when working with tick data.
Q. What is CAGR/MaxDD and where do I find it?
A. CAGR / Max DD is a performance metric that can be calculated to rank your strategies as it gives you a risk-adjusted return parameter. (you can also use the analysis spreadsheet shared in the program in modules 2 and 4 to get this and many other statistics).
CAGR is Compounded Annual Growth Rate, so the analyzed rate of return for the strategy. and Max DD is the maximum equity drawdown of the strategy which is shown in the backtest report.
So you can manually calculate or get these numbers from the report and get the ratio number.
The Algo Nation Algos have them built-in as the custom statistic that is returned OnTester
This is shown in the MT4 backtester journal when you do backtests and MT4 simply says OnTester returns: XXX
That value will be the custom statistic you chose in the algo inputs for the backtest.
For optimizations, it will be shown as OnTester result or a Custom statistic for the optimization parameter.
For more information refer to this article on the documentation.