Upgrading its MetaTrader 4 server capabilities, Canadian retail FX firm OANDA Corporation has now introduced support of five daily candles per week, the second trading infrastructure development for the company this week, following OANDA’s partnership with MultiCharts.
The company has announced today that many of its clients had requested the feature to be added to its MetaTrader 4 offering for two reasons, firstly the purposes of conducting technical analysis, and secondly in order to utilise various expert advisers and custom indicators.
In this particular upgrade, OANDA has added an entirely new server in order to include candles aligned with the close of the New York market each day, with the server being designated “OANDA – GMT+2 Live.”
The existing OANDA MT4 server is named “OANDA – GMT-5 Live” which the company will continue to support. Clients can access either server by selecting whichever one they prefer to use when signing in.
Also, while the new server will align to midnight GMT+2 for most of the year, OANDA will ensure that it always displays only five daily candles per week instead of six. As a result, the company will occasionally adjust the server to align with the GMT+3 time zone when daylight saving time differences require it.
Accessing the New Server
Existing OANDA MT4 clients with live fxTrade accounts can access the new server easily. Traders will be required to re-download the MT4 client, sign in with their existing MT4 account number, and then choose the server named “OANDA – GMT+2 Live.”
However, fxTrade Practice clients will not be able to access it. While OANDA will also continue to support fxTrade Practice clients testing their strategies to use with MT4, the only server that will be available for that purpose will be aligned to midnight GMT-5, and it will display six daily candles per week.
OANDA advises that traders who would prefer to use the new OANDA MT4 server will need to open a live fxTrade account and trade with real funds.
In terms of further developments in the near future, OANDA has confirmed that it has embarked on a program of upgrading its mobile trading platforms, with fxTrade Mobile soon to receive similar support for five daily candles per week.
The full announcement from OANDA can be read here.