What if Meta Trader 4/5 was like tradingview with having all features of tradingview?.
- iMA compared to tradingview -- This is not the same and so not reliable. - What do I do?
- Eurusd/gbpusd
- Meta Trader 5
- Agree. Trading will be more easy and MQL will get double their revenue0% (0)
- I don't think so..100% (2)
I believe MT5 is better than Tradingview, what can be coded in Pinescript can be coded in MQL5 as well. But I agree every feature you expect is not available by default e.g. Renko, Range bars and Kagi but they can be coded and customized in a more better way than those available by default in tradingview. You can get your job done in freelance or code yourself whatever you want in MQL5. If you are comparing MT5 with tradingview based on default features offered on platform, then Tradingview is good.
I believe MT5 is better than Tradingview, what can be coded in Pinescript can be coded in MQL5 as well. But I agree every feature you expect is not available by default e.g. Renko, Range bars and Kagi but they can be coded and customized in a more better way than those available by default in tradingview. You can get your job done in freelance or code yourself whatever you want in MQL5. If you are comparing MT5 with tradingview based on default features offered on platform, then Tradingview is good.
As a SMC Trader, I agree with Simple FX SMC. Here is my comparison of both Meta Trader and Trading view. and yes, based on the default features, tradingview is best. Unfortunately, it has less brokerage support compared to Meta Trader.
Imagine if MetaTrader was like tradingview as Simple FX SMC mentioned, it would be superb. wouldn't it?. MetaTrader platforme can offer monthly subscriptions like tradingview does (but first meta trader needs to come close to tradingview). Then their revenues also be doubled. as traders we can get more convenient trading platform which has no cons. as a SMC trader like Simple FX SMC, I do analysis on tradingview and use a MT5 position size calculator for postion sizing. also, I need to look back the same entry point in the MT5. what if Meta Trader was like tradingview, I could do all the thing using Meta trader. No need to subscribe for tradingview. Aslo Metetrade gets my monthly subscription as a revenue for them. both win win situation.
The fact is Meta Trader platform has a huge market to touch by developing their platform more continent to their traders. I don't know why the management of metatrader don't see this opportunity.
Even if the numbers isn't accurate, withing 10 years, they have made a huge proggess. soon they will overcome the metatrader. it's sad, but that is the truth. people goes where the most convenient service provided.
Tradingview has all the features that makes traders user experience is great. what they don't have is freelancing, copy trading and huge brokerage support. what if oneday they achieve all of them?. then the meta trader platform will starts to slowly fall.
Meta trader has all other things except the cool user experience of the platform. we need a coder to get what we want. what if meta trader develops their platform as tradingview. think .....
both platforms are same in the market competition as I see. oneday the one who see the opportunity will get it. my opinion is meta traders is still in the stone age compared to other platforms. if they won't improve, sooner or later they will face what happen to "Nokia" mobiles.
The SEO of "Nokia" said, "We didn't do anything wrong. but we lost the competition." it's still valid here...
Trading view's advantage is its universal . However when taking steps they must cater to that feature so the steps will be small.
Also the desktop platform is just a browser , the trading view browser that can only visit tradingview.com . (its webkit i think , and another reason for mq to pull the plug on mt4 now , now that the other platform is just a browser with total neglect for the pythonic turn everything seems to be making xD)
But if they were cars trading view would be a comfy mercedes c class , 5 seater while meta trader the gumpert apollo.
As a SMC Trader, I agree with Simple FX SMC. Here is my comparison of both Meta Trader and Trading view. and yes, based on the default features, tradingview is best. Unfortunately, it has less brokerage support compared to Meta Trader.
Imagine if MetaTrader was like tradingview as Simple FX SMC mentioned, it would be superb. wouldn't it?. MetaTrader platforme can offer monthly subscriptions like tradingview does (but first meta trader needs to come close to tradingview). Then their revenues also be doubled. as traders we can get more convenient trading platform which has no cons. as a SMC trader like Simple FX SMC, I do analysis on tradingview and use a MT5 position size calculator for postion sizing. also, I need to look back the same entry point in the MT5. what if Meta Trader was like tradingview, I could do all the thing using Meta trader. No need to subscribe for tradingview. Aslo Metetrade gets my monthly subscription as a revenue for them. both win win situation.
The fact is Meta Trader platform has a huge market to touch by developing their platform more continent to their traders. I don't know why the management of metatrader don't see this opportunity.
Even if the numbers isn't accurate, withing 10 years, they have made a huge proggess. soon they will overcome the metatrader. it's sad, but that is the truth. people goes where the most convenient service provided.
Tradingview has all the features that makes traders user experience is great. what they don't have is freelancing, copy trading and huge brokerage support. what if oneday they achieve all of them?. then the meta trader platform will starts to slowly fall.
Meta trader has all other things except the cool user experience of the platform. we need a coder to get what we want. what if meta trader develops their platform as tradingview. think .....
both platforms are same in the market competition as I see. oneday the one who see the opportunity will get it. my opinion is meta traders is still in the stone age compared to other platforms. if they won't improve, sooner or later they will face what happen to "Nokia" mobiles.
The SEO of "Nokia" said, "We didn't do anything wrong. but we lost the competition." it's still valid here...
Regarding Nokia, they are not only smartphone based company and they are still standing with 24.91 billion revenue in 2022. They just lose the smarphone segment due to not accepting the "change". People adapted to touch screen based mobiles and the cause of revolution was chinese brands like Meizu and Xiaomi offering much much better things which were unavailable on Nokia and Nokia did not compete with other brands like Huawei.
I started my career as web developer in 2011, after 4-5 years the craze of mobile app began so I have to forcefully learn app development, later the demand was Augmented reality, so i have to learn that too, then i learnt financial technology and coding. So change is necessary. Now a days AI make website in 30 seconds, who is gonna hire? So if i do not think about changing my model as a developer to build a business which makes website using AI, i will be failing in future.
Regarding MT5, everything can be coded and most of the things you need might be available on marketplace already, so its just about exploration. Tradingview subscription fee is like here buy a product in marketplace. In tradingview even after paying a subscription fee you are limited to what they have in table. for example in one of my forum i discussed the limitation tradingview has on their RENKO chart.
which is never a limitation on MT5 Renko since we have full access of source code and can modify as per need.
PS : I believe that a successful trading setup is only custom based, there is nowhere a fully working setup available for a subcription, a trader may require to trial and error different methods and strategies to build a successful favorable system and to achieve that source code is very important that only makes customization possible.
I became very good in TV and at coding in PineScript, and eventually got to a limit when I knew I have to move to something else. and after a long review conclude it was MT5.
The issues with TV are many, and very big...No only their charges are ridiculous, but TV has many limitations. e.g. not allowing to test hedging, limited to a few days of data in lower resolutions, limited backtesting, no optimization at all, not accounting for spread while testing, not being able to link to a non-usa broker, etc.
With that said, learning MT5 has been the most frustrating thing I have done in my life, and I have learned over 25 different programs and software languages. At the core, the help is very limited to people that already know, and our blog is full of duplicated questions that were partially awnsered. My suggestion here is to move to StackOverflow, the benefit is that there is a motivation to finish the solution to a problem, such that when another person encounters a similar problem the solution is there in full, not partially, forcing the person to ask the question again, and filling the blog with useless information that takes hours to sort through.
Finally, i think many critical Functions and nice are missing in MQL5. and it will be good for the developers of MT5 to ask users for desire fucntions, and for them to work on it. All my students at some point complained that the user interface was not friendly, and intuitive as TV, and there the reason why they stay with TV despite their large number of shortcomings.
Now that I know MQL5 a bit better, I cannot believe the time I wasted learning other languages and why not everyone just this. But I think the developers of MQL5 need to open the door to their costumers and start listening...
I became very good in TV and at coding in PineScript, and eventually got to a limit when I knew I have to move to something else. and after a long review conclude it was MT5.
The issues with TV are many, and very big...No only their charges are ridiculous, but TV has many limitations. e.g. not allowing to test hedging, limited to a few days of data in lower resolutions, limited backtesting, no optimization at all, not accounting for spread while testing, not being able to link to a non-usa broker, etc.
With that said, learning MT5 has been the most frustrating thing I have done in my life, and I have learned over 25 different programs and software languages. At the core, the help is very limited to people that already know, and our blog is full of duplicated questions that were partially awnsered. My suggestion here is to move to StackOverflow, the benefit is that there is a motivation to finish the solution to a problem, such that when another person encounters a similar problem the solution is there in full, not partially, forcing the person to ask the question again, and filling the blog with useless information that takes hours to sort through.
Finally, i think many critical Functions and nice are missing in MQL5. and it will be good for the developers of MT5 to ask users for desire fucntions, and for them to work on it. All my students at some point complained that the user interface was not friendly, and intuitive as TV, and there the reason why they stay with TV despite their large number of shortcomings.
Now that I know MQL5 a bit better, I cannot believe the time I wasted learning other languages and why not everyone just this. But I think the developers of MQL5 need to open the door to their costumers and start listening...
Very good post.
I tried for almost 10 years to improve things with this forum. No way, I finally gave up. There are very precious and useful informations and contents but it's flooded in the chaos and hard to find.
However MT5 is a great platform, it has some shortcomings but there is almost always a solution to do what you want. MQL5 is interesting and very powerful language, continuously improving.
For sure the GUI is old fashioned, hopefully they will radically improve it soon.
Curious about what critical functions you are missing ? Maybe you are missing the point that you (we) are actually not the MetaQuotes customers, brokers are.
I became very good in TV and at coding in PineScript, and eventually got to a limit when I knew I have to move to something else. and after a long review conclude it was MT5.
The issues with TV are many, and very big...No only their charges are ridiculous, but TV has many limitations. e.g. not allowing to test hedging, limited to a few days of data in lower resolutions, limited backtesting, no optimization at all, not accounting for spread while testing, not being able to link to a non-usa broker, etc.
With that said, learning MT5 has been the most frustrating thing I have done in my life, and I have learned over 25 different programs and software languages. At the core, the help is very limited to people that already know, and our blog is full of duplicated questions that were partially awnsered. My suggestion here is to move to StackOverflow, the benefit is that there is a motivation to finish the solution to a problem, such that when another person encounters a similar problem the solution is there in full, not partially, forcing the person to ask the question again, and filling the blog with useless information that takes hours to sort through.
Finally, i think many critical Functions and nice are missing in MQL5. and it will be good for the developers of MT5 to ask users for desire fucntions, and for them to work on it. All my students at some point complained that the user interface was not friendly, and intuitive as TV, and there the reason why they stay with TV despite their large number of shortcomings.
Now that I know MQL5 a bit better, I cannot believe the time I wasted learning other languages and why not everyone just this. But I think the developers of MQL5 need to open the door to their costumers and start listening...
Agree with you bro. MQL still in stone age. If tradingviews identified their missing things and develop them, then the end of the meta trader will start. as I said earlier, "Customers goes to the most convenient place. not to the which is oldest one".
There are really only 3 features that make TV infinitely more user friendly than MT4/MT5 (out of the box).
1) Zoom levels (TV has many more granular levels than MT4/MT5).
2) Mouse wheel to Zoom in and out.
3) Vertical + Horizontal scrolling. (being able to quickly look up/down or sideways and then back into position).
These 3 functions alone make TV feel far more modern and intuitive and why many users get on MT4/MT5 and want to immediately vomit.
Also many user friendly tools + indicators out of the box, just simple things like being able to auto extend rectangles or objects not appearing on top of other symbols. Simple / quick price alerting they can do on their phone.
Metaquotes have not invested enough to the actual user experience and are stuck with an interface that looks and feels 20 years old.
If TV ever start offering server / infrastructure services to brokers then it really is lights out for MT4/MT5.There are really only 3 features that make TV infinitely more user friendly than MT4/MT5 (out of the box).
1) Zoom levels (TV has many more granular levels than MT4/MT5).
2) Mouse wheel to Zoom in and out.
3) Vertical + Horizontal scrolling. (being able to quickly look up/down or sideways and then back into position).
These 3 functions alone make TV feel far more modern and intuitive and why many users get on MT4/MT5 and want to immediately vomit.
Also many user friendly tools + indicators out of the box, just simple things like being able to auto extend rectangles or objects not appearing on top of other symbols. Simple / quick price alerting they can do on their phone.
Metaquotes have not invested enough to the actual user experience and are stuck with an interface that looks and feels 20 years old.
If TV ever start offering server / infrastructure services to brokers then it really is lights out for MT4/MT5.if you search in codebase mouse wheel zoom etc are available.
Agree with you bro. MQL still in stone age. If tradingviews identified their missing things and develop them, then the end of the meta trader will start. as I said earlier, "Customers goes to the most convenient place. not to the which is oldest one".
Maybe metaquotes is right in moving to cover as much ground as possible in the optimization / testing / python / ml side of things since this is a weak spot for Trading View .
The question is what are they discussing within trading view about that weak spot ? They are in a rush too however , i mean when the desktop version came out you open it up expecting to see competition and you see a browser that can only visit the trading view website.
So , given the size of trading view maybe metaquotes is realizing it's best option is to become the "lab" side of the market .
I sympathize with them i mean someone who has reach portraying the """testing""" of trading view while what you have built dwarfs it in both quality and ability must feel unfair.
And the crowds will follow because its easy .
- i bought a utility i want it in my phone with me to use it whenever i want.
- notifications (limitations on emails / push if i'm right) which was the alternative option if someone wanted to trade manually what their utility found.(since they could
not have it in their phone) - i want to share this chart instantly not as a bmp to my social media not on mql5.com.
- scrapped the affiliate program , would be really lucrative in the age of "influencing" xD
Imagine as trading view was coming up if those who pushed it (to get commissions from subs)
had access to be affiliates on the mql5 market. TV payouts would have been breadcrumbs in comparison - Neglected social media to oblivion
- The initial plans for the mql profiles appear to have been a work of art but they seem to have been abandonded for some reason.
Imagine if they had a decent front on profiles and the channels launch was a transition of that to mobile .
Now all the above might have been decisions regarding the efficiency of a software company catering to brokers.
From that perspective yeah they were good decisions.
I mean who would have thought that TV could happen ?
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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