MQL4 and MQL5 are the programming language.Metatrader 4 (MT4) and Metatrader 5 (MT5) are the trading platform.
In general - that means nothing for us (for traders).It means only the following:
I understand what you mean.
But i am asking if there is anyway to know the user base for MetaTrader4 and MetaTrader5?
To see if it's worth it to create anything for MetaTrader4 or not.
Also broker's websites don't have any updates for the platform itself. I got MT4 from more than one broker and both are with these limited stuff that i mentioned.
So really the big question, which i hope you or other moderators have any idea about. What is the use base like for both platforms?
MT4 is bigger , MT5 is better .
Build for both right now ,and definately test on MT5 - prefer the MetaQuotes Demo MT5 version for testing .
Same for signals , if you build a signal for mt4 or mt5 ,test it on MT5 - prefer the MetaQuotes Demo MT5 version again.
To put it bluntly ,if you can test on MT5 dont test on MT4
You can use what you want (MT4 or MT5).
As to MT4 so the brokers are having updates for MT4, but the first update is coming from MetaQuotes-Demo server.So, open demo account with MetaQuotes-Demo and update MT4 (as I know - the latest build is 1265 now).
It was same talking for MT3 compare with MT4 many years ago.The people told that Metatrader 3 is the best for Windows '95 with Pentium 1 ..But we do not have Windows '95 now ... and there is no Pentium 1 ... so ..But I am still thinking that Windows'95 was the best Windows version.
You can check the thread -
It may be same for MT4 compare with MT5 for example.
Forum on trading, automated trading systems and testing trading strategies
New MetaTrader 4 Platform build 1280
MetaQuotes, 2020.07.23 14:56
The MetaTrader 4 platform update will be released on Friday, July the 24th, 2020. This version provides enhancements for built-in MQL5.community services, as well as error fixes and platform stability improvements.
The update will be available through the Live Update system.