Traders of all varieties have increasingly dependent on mt4’s automated trading and custom studies capabilities to implement their speculative strategies unattended. The execution of these tools rely on the primary input: price feed. Each new price quote of bid/ask information comes on a new tick. If the price feed contains old or stale ticks, then it is possible that the price that is presented is no longer valid. However, when trading with algorithms, the trader would not know the difference quick enough to act just by looking at the chart until after the fact, even if the price difference was significant enough to see visually.
The basic logic of the Rogue tick detector tool is as follows:
Price feed is linear (current price increases, decreases, or stays the same relative to previous price), and each price quote (tick) is supposed to be sequential. Meaning a price quote time stamp 12:20:25 should always arrive and be counted in the platform before quote timestamp 12:20:26. If the 12:20:25 stamp comes after 12:20:26, then an error message appears, either in popup, email, and/or written log format. The log will have the symbol name, the rogue tick, and the previous tick bid/ask and time-stamp information.
Check incoming tick (tick0) timestamp and compare to the previous tick time-stamp (tick-1). If tick 0 timestamp < tick -1, then record alert.
Options for popup, email, and separate log file are all possible. If you need to send evidence to the broker or programmer, you may use the separate log file if you do not want to use expert logs. Make sure you account for the time difference as the expert log will record the local computer time, and the timestamp of the ticks will be mt4 market watch time.