2 - How to get reliable data?
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When backtesting trading strategies, the test data quality directly influences the results' reliability. Relying solely on data provided by brokers can be risky, as this data may have gaps, inconsistencies, or errors that could skew the backtesting results. Brokers might offer a condensed version of data that omits important fluctuations and trade volumes, which are crucial for creating accurate market conditions simulations.
This is why obtaining high-quality, comprehensive data from a dedicated source like Tickstory, which offers access to robust Dukascopy historical data, becomes indispensable. Using such precise and detailed data ensures that traders can conduct thorough and reliable tests, leading to more dependable strategies that are better equipped to handle the volatile nature of financial markets.
What is TickStory, and why we use it?
Tickstory is a powerful software tool designed for traders who need accurate and comprehensive historical market data for backtesting trading strategies and models. It is particularly favored by users of the MetaTrader platform. We have used it at Trade't for years now to prepare all the data needed for our backtesting process. Tickstory is a software tool primarily used to obtain historical tick data for financial markets. Tickstory provides access to detailed market data, which includes tick-by-tick price movements, and can be used to create high-quality backtests that more accurately reflect real trading conditions.
Accuracy of Data: Tickstory provides access to high-quality, tick-by-tick data, which is crucial for thorough and accurate backtesting. This means traders can test their strategies with the same level of granularity as the real market.
Integration with MetaTrader: The software is well-known for its seamless integration with MetaTrader 4 and MetaTrader 5. It allows users to directly import historical data into the trading platform, ensuring that strategies are tested under conditions that closely mimic the live markets.
Wide Range of Data: Users can access a variety of financial instruments, including Forex, stocks, crypto, and commodities, thereby offering a comprehensive database for backtesting purposes.
Lifetime usage for one payment: Other similar tools in the market are based on monthly subscriptions, while Tickstory provides a lifetime license for one small payment for standard and professional packages, and even you have a free version you can use. You only pay for your updates when needed!
GET THE PAID VERSION! For less than 100 USD, you can have a reliable, fast engine to get your data!
Why Ducascopy data?
Dukascopy Bank is a reputable Swiss online bank providing Internet-based and mobile trading services, banking, and other financial services. Tickstory often uses Dukascopy data for several reasons:
Reliability: Dukascopy is known for providing reliable and transparent data. Their data includes every single trade executed rather than just samples of trades or aggregate price movements.
Depth of Historical Data: Dukascopy offers one of the most extensive historical data archives available, dating back many years. This depth is vital for conducting thorough and varied backtesting scenarios.
Tick Data: Given that Dukascopy provides tick data (data that shows the price and volume of every trade made on an exchange), it is highly prized among quantitative traders who need detailed insights into price movements.
Free Access: Dukascopy provides free access to its historical tick data, which makes it an economical choice for individual traders and small firms.
In conclusion, the use of Tickstory in conjunction with Dukascopy data enables traders to simulate past market environments with a high degree of precision, thereby gaining insights into how their trading strategies would have performed in various historical conditions. This process is invaluable in refining and validating trading strategies before applying them in real-world trading scenarios.
Attention: Even so Ducascopy data provides higher past data precision, we recommend you to do forward testing on a demo account or small live account as price delivery between brokers can be slightly different, especially for strategies using low timeframes.
Step By Step to download and extract data from TickStory
By following these steps, you can effectively download and utilize historical data from Tickstory for your trading and backtesting needs.
Step 1: Install Tickstory
Download Tickstory: Visit the Tickstory website and download the latest software version.
Install Tickstory: Run the downloaded installer and follow the on-screen instructions to complete the installation.
Open Tickstory: After installation, open the Tickstory application from your desktop or start menu.
Step 2: Download the Data
Choose Instrument: In the Tickstory interface, you will see a list of available instruments (e.g., forex pairs, commodities). Select the instrument for which you want to download data.
Download: Click the "Download" button or equivalent action to download the historical data for the selected instrument and time period. Tickstory will connect to its data sources and retrieve the requested data.
Specify Time Period: Select the start and end dates for the data you wish to download. This can usually be done using a date range selector or input fields.
Monitor Progress: A progress bar will indicate the download status. Depending on the amount of data and your internet connection speed, this process may take some time.
Step 3: Export
Select Export Format: Once the data is downloaded, you will need to export it in a format compatible with your trading platform (e.g., MetaTrader 5). Tickstory typically supports multiple export formats, so choose the one that suits your needs. When exporting data to MT5, make sure to export 2 files: Bars and Ticks.
Export Settings: Configure any necessary export settings, such as the export directory, file format, and any specific options related to the trading platform.
Export Data: Click the "Export" button to save the downloaded data in the chosen format. Tickstory will process the data and save it to your specified location.
Step 4: Import Data into Your Trading Platform
Open Trading Platform: Launch your trading platform (e.g., MetaTrader 5).
Create a custom symbol: To do so, open Symbols Window, search for the pair you want to replicate (eg. EURUSD), select that symbol and hit on "Create Custom Symbol". This step will help you replicate all the configuration of the symbol from your broker server instead of configuring it manually.
Import Data: Use the platform's import functionality to load the exported data. This process will vary depending on the platform, but generally involves navigating to the data import section and selecting the files you exported from Tickstory. In Metatrader 5, you need to import both Bars, and Ticks.
Verify Data: Ensure that the data has been correctly imported by checking the charts and historical data section of your trading platform.
Additional Tips
Quality Check: Verify the integrity of the downloaded data to ensure there are no gaps or inconsistencies.
Regular Updates: Regularly update your data to ensure you have the most recent information for accurate backtesting and analysis.
Documentation: Refer to Tickstory's official user guide and documentation for detailed instructions and troubleshooting tips.
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