Multiple Offline charts in MT4 and Custom Symbols in MT5

[Mohamed80]

Hello every one,

This is my first post here and my first time to know about FX Dreema. I have specific priority needs and thought of asking in the forum first before delving into the tool. I have in the past purchased another product and realized after a very long time of use that it does not meet my needs.

I have a couple of questions please to what FX Dreema can or can not do. I am not at the moment asking for (How To) but rather (Can FX Dreema do?). If it does, then I can definitely allocate the time for learning it from A to Z.

1- For MT4, I use Renko multiple box analysis. I may have three offline charts named M10, M20, M40 for (10,20,40 Renko Boxes). I want to trade on the M10 offline chart based on conditions in M20 and M40. Can FX Dreema Do this? (It will be hitting a jackpot for me).
If FX Dreema can do this, any ideas of how to backtest? I can backtest on one offline chart by a script but not sure if this would be applicable by an EA that references conditions in other offline charts.

2-In Tradingview web charting platform, I create a synthetic instrument. For example, I want to buy EURGBP and sell NZDJPY. So I create a synthetic instrument with the formula (EURGBP / NZDJPY). I learned that the same can be done in MT5 by creating a custom symbol.
So the question is: Can FX Dreema trade on this custom symbol chart?

Thanks in advance,

[l'andorrà]

@mohamed80 I'm afraid I cannot answer the first question because I have no idea about it. On the second one, I would appreciate some more info. I can tell you that now 'synthetic' instruments can be created unless you know how to do it with custom MQL4 code. However, I guess there are options to bypass that problem, but I don't fully understand what you exactly need. Can you please share a numeric example of what that (EURGBP / NZDJPY) formula is?

[Mohamed80]

Hello,
For the Formula of EURGBP/NZDJPY, it will be close of EURGBP divided by close of (NZDJPY). At the moment, it is 0.01098.

Let me expand more on the subject:
I sometimes create a custom symbol for general currency strength for EUR for example based on three pairs:
Either EURUSD * EURGBP * EURJPY 0r EURUSD+EURGBP+EURJPY
So we multiply the closes or add them.

Another incident might be trading two (or more) different pairs in two different directions. It helps when I combine them in one single chart for Technical analysis and to trade on it.

Let's say I have five pairs who are bullish and the other five are bearish. I create a basket of these 10 pairs with my own formulas (as I described before) and combine them in one chart. Then I trade based on this chart. I do this in Tradingview. I tried to attach a screenshot but did not know-how.

Thanks

[Mohamed80]

@l-andorrà

With regard to the first question:

I will add a sub-question:

If I create an EA for MT4 that checks conditions in Daily and H4 and at the same time have conditions set to the current chart, which will be an offline chart, will it work?

In other words, if this EA is placed on a H1 chart, it will definitely work but when placed on an offline chart, it may or may not. I am trying to substitute the Higher Box Renko with Higher Standard Time Frames.

Thanks,

[l'andorrà]

@mohamed80 I answer first first post. Yes, you can create any combination of prices witha formula in fxDreema. You just need to insert each symbol price on a different variable and then multiply, add, divide or subtract as you wish.

I have no idea if fxDreema can work with offline charts. I guess it cannot, but not sure. Does anyone else know?