Programmers, do you prefer MQL4 or MQL5 development more?

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I was looking at some comparison articles about MT4 vs MT5, so I wanted to ask developers of indicators and EAs on their thoughts. Do you prefer MQL4 or MQL5? Why do you like that one more? What features does it have that the other doesn't have? Why do so many people still use MQL4 than MQL5? Thank you! :)
 
JingleJongle:
I was looking at some comparison articles about MT4 vs MT5, so I wanted to ask developers of indicators and EAs on their thoughts. Do you prefer MQL4 or MQL5? Why do you like that one more? What features does it have that the other doesn't have? Why do so many people still use MQL4 than MQL5? Thank you! :)

Hi,

to me currently the most important features of MQL5, not present in MQL4, are:

  • The possibility of debugging on historic data - in MQL4 you can debug, too, but only on current data, meaning you have to wait for the event you need to test some parts of your code, which is very inconvenient.
  • The use of agents for parallel optimization, utilizing all processing power available to you and in the cloud. I don't trust any cloud though.
  • Parallel execution of Indicators on different symbols inside their own threads, not eventually blocking the whole platform.
  • The possibility of asyncronous order sending, increasing the speed of trade execution somewhat, when trading several symbols in a single EA.
  • Relatively simple optimization of multi-currency EAs.
  • Relatively simple extensibility with other programming languages

So why is MQL4 still the quasi-standard? I think of history in the way, that many developers come from MQL4 with a large codebase, not easily transferrable to MQL5 in too many cases, with the understandable mindset: "Never change a running system." Also, it is not so long that now you can use hedging accounts in MQL5, wich was the standard in MQL4. This can complicate things a lot. But what is your net investment, when you hedge one lot buy with one lot sell? Effectively you are not invested, but need to pay two times spread and commissions. For some it's easier to handle though. On the other side there are the brokers with the same mindset and the costs for the higher hardware requirements imposed by the use of the MQL5-plattform. And of course they know the mindset of their clients - they tell them. In essence you can see this as a rather stable "self sustaining" situation in favor of MQL4. But some movement hast started slowly, when you read the news.

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