it seems there are signs out there that MT4 could be shutdown this year ?
This would not be an issue if MT5 code was simpler instead of beeing more complicated for end users.
In MT5, you cannot call directly and easily an indicator function to obtains the datas, you must first use the createindicator function, and after each access must go through a copybuffer procedure, with each time checking the errors that can be returned.
And of course MT4 EA code will not be compatible.
This is total nonsense.
Usually in the software industry you always have an upward compatibility (softwares running under windows 7 are still working when moving to windows 10), and new releases are intended to make life easier for end users, not trying to discourage them from upgrading.
Why do you think so much people are still using MT4 and don't want to migrate to MT5 ? There is a good reason.
If MT5 is kept "as is" and MT4 is shutdown, this will be a huge shock for many end-users, who will also complain to their brokers.
MT4 shutdown can only force and encourage people to migrate to alternative platforms like PRT.
Also, MT5 code complexity will reduce the number of end-users who will prefer easier langages.
This will reduce the total number of Metatrader end-users, and will encourage brokers to provide their private system.
More there are users, more the platform has a chance to be adopted by brokers and act as a reference.
I think Metaquotes is killing itself and I don't understand they don't realize it.
They just made some very bad decisions early on. In my opinion the whole project MT5 is one big mistake and pure waste of resources. We can all see the results. MT5 is already 8 years old, and yet there is very little demand for this platform. It is obvious that the majority of traders and coders do not like this platform. ( And of course there are serious reasons for this!)In my opinion all they had to do is to continue to upgrade MT4. Just add new functions, improve the language, make the platform compatible with other markets and so on.....I don't understand why they decided to make separate platform. It doesn't make any sense.You correctly pointed 2 of the main killers of MT51. Complete lack of backward compatibility. 2. Over-complicated new language.The "new" MQL5 language is basically the old MQL4 minus everything which made mql4 and MT4 great. All of the simple and efficient functions have been replaced by over complicated functions and OOP junk. WHY??? No one knows.
Of course you can still program the same things, but with the new language is real nightmare. You have to write 2-3 times more code for the same thing. And especially working with positions, orders, deal, and trades is total mess compared to MT4 which is super simple and efficient.
With a mql4 all you have is ORDERS.
I think Metaquotes is killing itself and I don't understand they don't foresee it.
Man you are completly right, Im so impressed by the decision makers of this company. MQL5 is so awfull in many ways (both platform and programming part) that has been 8 years and they are trying to close MT4. That will be fun to see! They are killing themselfs as you say. First thing I do after closing MT4 is going to other platform 100% sure.
You couldnt have explain it better, I have been coding learning MQL5/MT5 because a job, and Im willing to end it just to not touch it anymore in my life. What hurts more is that so many obvious thing that get worse not better!!?
Now the best decision Metaquotes could take is move to MT6 and let MT4 run a few more years until then, just like Microsoft did with the failure of Vista.
MT5 is like a failed experiment.
Is there respect towards the millions hours of code development of all end-users (final customers) ?
I personaly have 3 years development in order to have a set of profitables EAs running, and if Metaquotes screws my business with their silly decision, I will use my time rewriting my codes on a platform that is more sustainable, or maybe an API.
Even if Metatrader graphical interface is rough, the coding and MQL4 langage part was just fantastic, this is the reason why it has been adopted and become a leader in the automatic trading industry.
It seems they are going to pull the trigger this year.
There's plenty of different platform and I've try quite all, coming with their pros & their cons.
For example, some are much more attractive visually, it's a fact.
But where it hurts, is when it comes to programming : MQL is richer and much more flexible that all those c* and basic-like suffering of the lack of methods.
Will there be another major change when migrating to MT6? I don't think, as you can see, MQL5 has already all of those conventionnal languages, I'm thinking particularly at the generic data collections, recently included and not available in MQL4, which is "a step for a humankind" when you know how much fastidious could be to juggle with arrays ...
Of course, it's not perfect, it still can be improve, json support for example is still tricky. To do something as basic as posting a tweet, it's the sea to drink.
Would it be nice to just be able to reference a c* library ? Definitively yes.
But ... does updating your MQL skills to new MQL5 standards worth it ? Obviously yes, on that point particularly, MetaTrader is a leader and didn't steal it.
If metaquotes closed mt4,it will really be a bad business decision.Whats the need for mt5 language to be among the top OOP language? Majority of traders do not come to use mt4 to learn coding.But just since mql4 is easy,simple and attractive even to traders who do not intend to code EAs and indicators,many are hook.If metaquotes think of being number one always in automatic trading language,theyneed to discard mt5.may be a poll will make them realise their folly ;D
I have been using mt4 since June 2008 and I love it. It has a few shortcomings which can easily be fixed.
I think that MetaQuotes is a company run by programmers and not traders. They do not realize that whole idea of using a trading platform is to make
money trading and not writing sophisticated code.
Mql5 is object oriented language. Object oriented languages are good where creation of reusable modules will be useful to a big number of programmers
who are working as a team to develop some software. Traders work by themselves and not going to share the code with other traders.
Adding fancy bells and whistles to the platform is not going to make an ea profitable. Profitability comes from smart strategies and not sophisticated code.
If mt4 is shut down I would learn c++ rather than mql5. Once I do that I will use only API to place my trades on a broker's platform. That way I will never be
stuck with someone's bad decisions.
I doubt that. Besides the fact the maintenance cost for MT4 is close to none currently, there is still a full load of indicators and experts in the MQ Market. I do not expect they let you buy a product and then shut MT4 down.