Rogue Tick Detector - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

Introduction : Traders of all kinds increasingly rely on mt4's automated trading and custom research capabilities to implement their speculative strategies unattended. The execution of these tools relies on the main input: the price feed. A new quote appears with each new quote for buy/sell information. If the price source contains old or outdated price movements, the prices displayed may no longer be valid. However, when trading with algorithms, even if the price difference is large enough to be seen visually, traders cannot know the difference quickly enough until after the fact by looking at the chart to take action.

The basic logic of the Rogue tick detector tool is as follows:

The price feed is linear (the current price increases, decreases, or remains the same relative to the previous price), and each quote (quote point) should be continuous. This means that quote timestamp 12:20:25 should always arrive and be counted into the platform before quote timestamp 12:20:26. If the 12:20:25 mark occurs after 12:20:26, an error message is displayed in pop-up window, email, and/or written log format. The log will contain the symbol name, malicious quotes, and previous quotes/quotes and timestamp information.

Check the incoming tick (tick0) timestamp and compare with the previous tick timestamp (tick-1). If tick 0 timestamp < tick -1, the alarm is logged.

Pop-up windows, emails, and separate log file options are all possible. If you need to send evidence to a broker or programmer and don't want to use expert logs, you can use separate log files. Make sure to take into account the time difference as the expert log will record local computer time and the timestamp of quotes will be mt4 market watch time.

Installation : Copy RogueTickDetector.mq4 or ex4 to [metatrader4 folder]\experts\indicators. Restart Metatrader 4 and you should see the new indicator under the "Custom Indicators" folder in the Navigator. Drag the RogueTickDetector onto any chart containing the symbol you want to track. It is possible to run several different indicators simultaneously on the same chart, but only one instance of RogueTickDetector is required per tracking symbol.

The log files will be located in [metatrader4 folder]\experts\files

Notes: There may be legitimate reasons for the occasional detection of rogue ticks (up to a few times a day). But many times, when a currency pair suddenly experiences several rogue quotes per minute or hour (regardless of symbol volatility), it is possible that this is intentional price manipulation. Check for other forms of dealer intervention (execution/fill delays, asymmetric slippage, excessive requotes, abnormal disconnects, etc.). Also check your terminal's latency from mt4 terminal to server and internet connection quality.

Typically, price rogue ticks are the result of issues on the broker's side, as we typically use this tool on premium VPS servers in New York with 100% uptime guaranteed. The same server will have multiple live and demo accounts, with multiple brokers trading similar currency pairs; but only a few brokers seem to have this problem all the time. Or the broker never has this problem, but suddenly it happens very frequently.

Since it uses very little computer resources, we recommend that all traders who value accurate pricing consider this tool or a similar one.

Special thanks to Vivek @ Anka Software for help with practical tool design.

Attachment download

📎 RogueTickDetector.mq4 (4.34 KB)

Source: MQL5 #11004