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Hi all,
Mostly posting this in case someone else runs into this issue, this may fix the error in the title.
I started from a fresh install of MT5, and upon trying to run a python script, the python Initialize function would produce " -10003, 'IPC initialize failed, MetaTrader 5 x64 not found' " error.
Steps taken to produce and subsequently fix (?) :
1) error would occur regardless of correct specification of terminal64.exe path ( example: mt5.initialize("C:\\Program Files\\MetaTrader 5\\terminal64.exe") ), and omission of the path also produced the same error.
2) created a portable mode of MT5 files from the same files located in C: drive on my D: drive. Running the same script (without path specified in initialize function) would now open and use the portable terminal64.exe file.
3) specifying the path to the C: drive terminal64.exe would now use that one instead.
4) deleted everything in the folder containing the D drive MT5 portable files EXCEPT terminal64.exe
5) specifying path to C drive .exe continues to work, and if path is omitted the same error occurs.
6) Deleting the D drive terminal64.exe (and the folder it was in) results in the new behavior persisting (if no path specified, the function produces the error; otherwise with path, script works).
Script used is as shown below. Issue appears to be resolved by creating some second terminal64.exe outside C drive.