Meta Trader 5 users know Meta Trader 5 is the powerful FX trading tool. However the choice of brokers might be limited for the time being. There is one way of overcoming this. The solution is to copy trades from your MT 5 to MT 4 terminal if they are installed in the same PC. In this way, you can use full functionality of Meta Trader 5 and you don’t have to worry about looking for the broker for your Meta Trader 5 platform.
When you have both MT 4 and MT 5 platforms installed in the same PC of yours, “MT5 to MT4 Trade Copier EA” can copy all your positions in your Meta Trader 5 terminal to your Meta Trader 4 terminal without much delay. The copying time from MT5 to MT4 is quite fast and I personally don’t feel a lot of delay. (Although I did not experience yet, the copy time might be influenced by tick arrival frequency in your chart. However most of time, the copying time is almost instantaneous and it is less than 1 second.)
Then enjoy this small toy and your trading.
Meta Trader 5 users know that Meta Trader 5 is the powerful FX trading tool. However the choice of brokers might be limited for the time being. I really didn't like this fact because some countries does not have access to the live account for Meta Trader 5 platform and they can't make money.
There is one way of overcoming this. The solution is to copy trades from your MT 5 to MT 4 terminal if they are installed in the same PC. In this way, you can use full functionality of Meta Trader 5 and you don’t have to worry about looking for the broker for your Meta Trader 5 platform.
Installation and use for the "MT5 to MT4 Trade Copier EA" is really simple and straightforward.
Updated Manual for MT5 to MT4 Trade Copier
What happens when the position gets an averaged price?
I don't think that it is possible to mirror metatrader 5 orders 100% same to metatrader 4
I am not sure with you on "an averaged price". The point for trade copier is that your MT5 floating trade is immediately copied to your MT4 terminal. The result is you get same lot size order in the same currency pairs in your MT4 terminal.
If by floating trade you mean the current trade position size, just imagine this :
I open 1 order lot trade (let it be sell). I get the 1 lot size order in metatrader 4
I add (sell) 1 lot to the existing trade/possition, and it becomes 2 lot size order. If by "floating trade" you mean the current opened trade size, then in metatrader it will open an order using 2 lots? If yes, then it is not at all what have been done on metatrader 5 trading account, and the open price of the 2 lots order in metatrader 5 will never match in cases like that the averaged open price of the metatrader order
Trade copier is updated to MT5 to MT4 Trade Copier version 3.8.
You can use this for MT4 symbol with suffix for example, EURUSD.ecn or EURUSD.m or EURUSD.e, etc.
Manual for the Trade Copier version 3.8
MT 5 to MT4 Trade Copier EA Manual is updated for version 1.7 on 1 April 2014
When I manually opened a trade in MT4 with "CopyPositionsFromMT5" attached to a chart, it will automatically closes that trade instantly.
Please update on your next version so that "CopyPositionsFromMT5" in MT4 wouldn't closes active/floating trade/trades made manually or by an EA running on the same MT4. Maybe add function so that "CopyPositionsFromMT5" in MT4 only manages trade by "Order Number" correlated to that "Order Number" from MT5.