Introduction
Amibroker is a powerful technical analysis software that helps traders analyze price data and make informed trading decisions. It is widely used by traders worldwide with a significant portion of them focusing on Forex markets. Forex, or Foreign Exchange, is the largest financial market in the world with daily turnovers amounting to over 5 trillion USD, making real-time data an indispensable tool for traders. This article will guide you on how to obtain real-time Forex data for Amibroker, opening up a world of possibilities.
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In the vast landscape of Forex data providers, MetaQuotes stands out as one of the most reputable providers, boasting a large network of brokers and exchanges, real-time data, and a dedicated MetaTrader platform, renowned in the industry. To harness this wealth of data in Amibroker, we’ll turn towards a bridge, a software intermediary that connects Amibroker with MetaTrader, enabling the seamless flow of data.
Choosing a Bridge
The choice of bridge is paramount, directly influencing the overall experience and data quality. Among the various options, two bridges stand apart, providing reliable and feature-rich solutions:
- NT Bridge: A comprehensive and well-established bridge, NT Bridge has earned its place as a preferred choice for Amibroker users, known for its stability, low latency, and diverse range of supported data feeds, including MetaQuotes.
- Dukascopy Bridge: Dukascopy Bridge, developed by the renowned Swiss bank Dukascopy, is another popular choice, offering an array of data feeds and flexible subscription plans. It also provides advanced features such as tick-by-tick data and historical data downloads.
The selection of a bridge depends on individual preferences and specific requirements. NT Bridge generally has broader support for data feeds, while Dukascopy Bridge may appeal to traders seeking tick-by-tick data or Dukascopy’s proprietary data feeds.
Setting up the Bridge
Once a bridge is chosen, setting it up is a relatively straightforward process. Each bridge typically comes with detailed documentation and support resources. In essence, the setup involves installing the bridge software, configuring data sources, and linking it to Amibroker.
Before proceeding, ensure that MetaTrader is installed on your system. The bridge software will establish a connection between Amibroker and MetaTrader, allowing real-time data to flow into Amibroker.
Amibroker Configuration
With the bridge up and running, the final step is to configure Amibroker to receive real-time data. Open Amibroker and navigate to “File -> Preferences -> Data Feed.” From the drop-down list, select the installed bridge as the data source. You will need to provide the necessary connection details, such as the IP address or hostname of the MetaTrader platform and the port number.
Once configured, click “Test Connection” to verify the connection and data flow. If successful, you will see real-time Forex data streaming into Amibroker. You can now create charts, perform technical analysis, and make informed trading decisions using up-to-date market information.
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How To Get Amibroker Forex Rt Data
Conclusion
Acquiring real-time Forex data for Amibroker opens up a world of possibilities for traders, providing them with the tools to analyze markets in real time and make informed trading decisions. By carefully selecting a bridge, setting it up correctly, and configuring Amibroker, traders can unlock the power of real-time data, gaining an edge in the fast-paced Forex market.
