MetaTrader 5 Client Terminal - page 2
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I use the MT4 platform and really like the ease of using it. However the one thing that I have problems with is the timeframs. The periodicity tool bar simply did not have enough time frames and having to create any time frame by opening offline charts using period converter is very annoying. Having the ability to add custom timeframes to the tool bar instead of just the 21 you provide would be more pratical and useful. For example I might want to add a 16H, or a 45M, or and 8D time frame or I would like to have a list of time frames from 1M to 1H is steps of 2M. That is useful for me and I know many many other traders that find that to be the most useful. The one other platform that I found that have provision for any time frame is ACM where you can type in a custom time or use a time from a drop down list. It's a big advantage, but I prefer the MetaTrader platform. In addition, the ability to have some type of slider where the time frame will change as it slides side to side or up and down would be by far a superb addition to your application platform.
I hope this feature request could be added, and I am looking forward to the new release of the MT5 platform. From the looks of it thus far, it looks very promissing that it will be by far one of the best platforms in existiance.
I would also be interested in being involved in beta testing of this application, so please let me know how I could help.
Thank you
WHAT?
NO HEDGING? Again this is huge mistake because I do exactly what the other trader was talking about be long on the daily but take on the small movements on the 5minute.
That "new feature" is really a huge mistake.
I don't see many traders wanting to switch to the MT5 if that will keep being part of the program.
Seriously, that is a really bad idea.
Two years ago we started the development of MetaTrader 5 platform. Now this work is approaching completion and by autumn we are planning to release the new platform. Beta testing of the new client terminal and MQL5 development environment starts in summer.
The trading system of the MetaTrader 5 terminal was re-written from scratch, as well as the whole platform. As compared to MetaTrader 4, trading possibilities of the new terminal are much wider. First of all, the MetaTrader 5 terminal allows working in various markets. Directly from the terminal you will be able both to execute trading operation in Forex and work with options, futures and stocks.
Secondly, in addition to already familiar Market Watch, the Depth of Market will be available in MetaTrader 5. This tool is necessary for working in stock markets. Thirdly, the order system is extended: the total number of order types is equal to 5 (in MetaTrader 4 there are 4 types of orders).
MetaTrader 5 terminal supports 4 types of operation execution: Market, Instant, Request and Exchange. The new execution type Exchange is developed for processing trade operations with stock symbols.
Profound differences between notions of position, order and trade appeared in MetaTrader 5. Order is a request to execute a trade operation, the result of which can be a trade. A position is the total state of trades on a certain financial security. Any financial security can have only one position.
Differences between trade positions in MetaTrader 4 and MetaTrader 5
Special reports are available in the new terminal for the convenient analysis of trading activities. Reports show not only initial and final deposit values, but also other parameters. Using these reports, you will know such results of your trading as, for example, GHPR, Z-score, Profit Factor and others.
Analytics
Analyzing price dynamics of financial securities is the most important component of a successful trading experience. In MetaTrader 5 we tried to provide traders with as many analytical tools as possible.
Three types of charts are available in MetaTrader 5: broken line, Japanese candlesticks and bars. For the analysis of these data 38 built-in indicators, 39 graphical objects and the large variety of MQL5 indicators can be used. All these analytical tools can be combined in different ways: objects can be applied to indicators; indicators can be built on the basis of other indicators and so on.
The history of quotes in MetaTrader 5 is stored only in M1 form and all charts are built based on them. This solution allows extending the number of timeframes up to 21, so that any period from minute to month can be used to analyze quotes. The main limitation on timeframes is their multiplicity: one hour must contain the integer number of minute periods. The following timeframes comply with this rule: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.
Besides, format of history data storing in MetaTrader 5 is space-efficient. For example, M1 history of GBPUSD quotes for ten years occupies about 10 MB only. This history being downloaded once, you will be able to build any charts on this symbol starting from M1 till MN1.
Autotrading
The integrated development environment MQL5 is responsible for the development and use of Expert Advisors, custom indicators and scripts in MetaTrader 5. It includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5).
The MQL5 language for programming trading strategies is distinct for high speed of execution and approaches C++ in terms of this parameter. As compared to MQL4, the new language is 4-20 times quicker. This allows using more complex Expert Advisors able to process large amounts of data per time unit and therefore obtain more precise forecasts of price dynamics. Besides, the new language is object-oriented which makes the development of Expert Advisors quicker and easier.
For writing Expert Advisors MetaEditor 5 is used, which includes the new IntellySence system. It automatically completes various constructions of the language thus quickening the EA development process. The built-in debugger allows to quickly find errors and fix them. After the EA is ready and its compilation is performed, it automatically appears in the terminal and can be immediately started to work in the market.
MetaTrader 5 Strategy Tester is a very powerful tool for any developer of Expert Advisors. It helps to obtain results of an EA behavior on the history before using it in real trading. Detailed reports on a trading system allow to estimate the Expert Advisor and detect its weak points, as well as to compare the EA with other developments. Besides, optimization of Expert Advisors allows to define the most efficient parameters of their variables and make the EA maximally profitable.
Dear developers!
I am a user of MT4 platform which is a very nice platform and I am very happy that you are in the finish line finishing the developement of the new MT5. However I have some questions:
1: Will there be multi core support for the new version? Todays PC's have multi core cpus which can put a boost to performance if the program supports it.
2: It would be really nice to see not just time based charts, like 1min; 5min; 3min;hour;daily;monthly but movement based charts like TICK charts, RANGE bar charts, Point & figure, Renko, Kagi charts. I think the lack of Range bar charts and Tick charts are one of the biggest disadvantages of MT4. I really hope you can integrate theese features. And if so backtesting on theese chart types would also be wonderful.
3: Will there be detailed new reports in the strategy analyser? If so what new reports are possible?
I would like to use only one platform in the future, and I am sure that other traders would also be happy to see theese new features in the upcoming version of MT5.
Hello,
the new features sound great, but will the version 5 have support for MAC OS X?
Best Regards!
Hi, I'm an mql programmer and I'm really interested to be an MT5 Beta tester.
Please keep this thread updated with news about MT5 beta testing.
Thank you,
Giorgio.
Differences between trade positions in MetaTrader 4 and MetaTrader 5
You've not mentioned the handling of orders of different magic numbers...
What will MT5 do if different orders with different magic numbers placed? Especially if there're both LONG and SHORT positions.
Yeah no hedging has got to be the biggest mistake ever I for one and Im sure i speak for many will not be using mt5 if that is the case then again prob wont be long till soemone does a program to stop it cancelling out the other posi.
I must say im not sure why they would even do it that just seems so short sighted atleast have it as a option, you really have to wonder what goes through soem ppls head.
My other big thing with mt4 is the order windowit is bloody huge what is with that we need that as a adjustable thing to and the option for multiple orders would be great even for the same pair.
I wonder if they asked traders what would make the platform better and what traders wanted to be different.
Do you have any beta versions available for testing now? (for forex use only).
Thanks.
I hope the mt5 has new powerful features, especially in built-in-debugger functions(like general development enviroment that supports single step、break point、monitor variable...etc.)
Will mt5 causes the revolution effect among many existed strategy tools(such as metastock、tradestation)