Do I need Tick Data to get 90% of modelling quality?
No, Tick Data is not necessary to obtain results with 90% or 99% modelling quality. In fact, the modelling quality does not define the test quality, it only shows the "accuracy" of the test data.
You can use the NNFX Algo Tester with the Open Prices Only model or the Every Tick model. These work differently and have different data requirements (see here).
- For example, the NNFX Algo Tester, using the Open Prices Only model, the modelling quality will be not applicable (N/A) and the backtest will be performed with maximum precision.
- Using the Every Tick model is different. In order to obtain the maximum backtest accuracy the modelling quality must be 90% (the difference between 90% and 99% is defined not by the test data accuracy, but by the origin of the data. If it is not possible to determine the source of the data the modelling quality will always be 90% or not applicable (N/A), but with the Report tab bar entirely in light green).
To get 90% modelling quality, you need 1 min data for the entire backtest period. There are several programs, both free and paid, that will help you to download the 1 min/tick data and install it in the MT4. You could also download the historical data directly from a broker's website, for example, Dukascopy, and install the data manually.
Another alternative is to use software such as Tick Data Suite software.