Discussion of article "New opportunities with MetaTrader 5"

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New article New opportunities with MetaTrader 5 is published:

MetaTrader 4 gained its popularity with traders from all over the world, and it seemed like nothing more could be wished for. With its high processing speed, stability, wide array of possibilities for writing indicators, Expert Advisors, and informatory-trading systems, and the ability to chose from over a hundred different brokers, - the terminal greatly distinguished itself from the rest. But time doesn’t stand still, and we find ourselves facing a choice of MetaTrade 4 or MetaTrade 5. In this article, we will describe the main differences of the 5th generation terminal from our current favor.

Author: MetaQuotes

 

Rosh,

 

I have two questions regarding MT5:

1. 

On the Symbols Window in this article I can see IQFeed as a possible data feed. How is it possible to connect such kind of datafeeds (datafeeds I have subscribed to) into MT5?

Is Metaquotes providing "drivers" to such kind of data provders? 

Is there a (documented) API or any kind of a SDK so I can write own "drivers" to connect to other data feeds?

 

 2. This https://www.mql5.com/en/articles/75 article (The Algorithm of Ticks’ Generation within the Strategy Tester of the MetaTrader 5 Terminal) describes how ticks are emulated from higher time frame OHLC values. Is there a way to avoid this emulation of artifical ticks and provide the strategy tester with real historical ticks from a database I provide myself (ticks from other sources and self generated ticks). Especially the last point (self generated ticks) is very important to do QA-measures on self developed EAs (i.e. testing the EAs with well known, seld defined patterns).

I have recognized that MT5 creates *.hcc files. Are the historical ticks stored in there?

Is it possible to store real ticks in such files (not only >1 Minute Bars) and the Backtester then is using teh files I have generated?

Is there a description of the binary format of these files?

Or are there tools to import own tick data? 

 

Thanks for your help

Hanky

The Algorithm of Ticks’ Generation within the Strategy Tester of the MetaTrader 5 Terminal
  • 2010.06.02
  • MetaQuotes Software Corp.
  • www.mql5.com
MetaTrader 5 allows us to simulate automatic trading, within an embedded strategy tester, by using Expert Advisors and the MQL5 language. This type of simulation is called testing of Expert Advisors, and can be implemented using multithreaded optimization, as well as simultaneously on a number of instruments. In order to provide a thorough testing, a generation of ticks based on the available minute history, needs to be performed. This article provides a detailed description of the algorithm, by which the ticks are generated for the historical testing in the MetaTrader 5 client terminal.
 
Hanky27:

Rosh,

 

I have two questions regarding MT5:

1. 

On the Symbols Window in this article I can see IQFeed as a possible data feed. How is it possible to connect such kind of datafeeds (datafeeds I have subscribed to) into MT5?

Is Metaquotes providing "drivers" to such kind of data provders? 

Is there a (documented) API or any kind of a SDK so I can write own "drivers" to connect to other data feeds?

No, there is not. Only broker can provide quotes for needed symbols into client terminal. You should ask your broker.
 
Hanky27:

 2. This https://www.mql5.com/en/articles/75 article (The Algorithm of Ticks’ Generation within the Strategy Tester of the MetaTrader 5 Terminal) describes how ticks are emulated from higher time frame OHLC values. Is there a way to avoid this emulation of artifical ticks and provide the strategy tester with real historical ticks from a database I provide myself (ticks from other sources and self generated ticks). Especially the last point (self generated ticks) is very important to do QA-measures on self developed EAs (i.e. testing the EAs with well known, seld defined patterns).

I have recognized that MT5 creates *.hcc files. Are the historical ticks stored in there?

Is it possible to store real ticks in such files (not only >1 Minute Bars) and the Backtester then is using teh files I have generated?

Is there a description of the binary format of these files?

Or are there tools to import own tick data? 


At all questions - No.
 

Why don't MetaQutoes stop Metatrader 4. Or also give some deadline to stop Metatrader 4. Because new version is much better then older version. Two version making confuse people. ...

 
One feature that I think is important in MT4, but which MT5 doesn't have, is the possibility of opening hedge orders on the same pair. There could be an option to activate and deactivate hedges on the same pair, or it could even work without the need for activation, as it does on MT4 of course.
 
tcferreira:
One feature that I think is important in MT4, but which MT5 doesn't have, is the possibility of opening hedge orders on the same pair. There could be an option to activate and deactivate hedges on the same pair, or it could even work without the need for activation, as it does on MT4 of course.

Hi Thiago,

I've looked into this and it seems to me that the reason for not having hedging on MT5 is because this type of operation is not allowed by US law and also to adapt a platform to the stock exchange's market system.

If anyone reading this knows if this information is correct, please feel free!

 
PauloBrasil:

Hi Thiago,

I've looked into this and it seems to me that the reason for not having hedging on MT5 is because this type of operation is not allowed by US law and also to adapt a platform to the stock exchange market system.

If anyone reading this knows if this information is correct, please feel free!

Yes Paulo. It was for US legislation, by the NFA, I believe, and to operate in shares, accounting for costs, dividends, etc. But I'm also thinking of doing traditional hedging, with pairs that correlate. I intend to do more research on the subject, preferably here on the MQL5 website. If you have anything related, please let us know. Even better if it's in Portuguese.
 
tcferreira:
One feature that I think is important in MT4, but which MT5 doesn't have, is the possibility of opening hedge orders on the same pair. There could be an option to activate and deactivate hedges on the same pair, or it could even work without the need for activation, as it does on MT4 of course.
Thiago, a workaround for this, which isn't exactly the same but can help, is to use pending orders.
 
PauloBrasil:

Hi Thiago,

I've looked into this and it seems to me that the reason for not having hedging on MT5 is because this type of operation is not allowed by US law and also to adapt a platform to the stock exchange market system.

If anyone reading this knows if this information is correct, please feel free!

Paulo's observation is perfect. Another reason given by brokers at the time is that some traders replace stoploss with hedging in the hope that one day the market will turn in their favour.

But in practice this practice has not been combated, as it is enough to use different accounts or even different names for the same instrument, as some brokers offer.

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