If you are not aware about it, you have to know that Metaquotes is pushing hard for traders and brokers to adopt MT5. They are currently developing MT5/mql5 to fill in all the missing features that prevent the switch to MT5 from MT4.
In addition, as we promised last year, we will open the ability to write plug-ins for the Data Feed platform. This will have its own custom tools and their history.
Brokers will get facilities to migrate MT4 account to MT5 :
Terminal: In addition to hedging support, the new platform version provides wider opportunities for migrating accounts from MetaTrader 4. Now, brokers can automatically transfer accounts to MetaTrader 5, including all operations: open and pending orders, and complete trading history.
So, what's your opinion, will Metaquotes succeed or traders will stay hooked to MT4 ? What will you do personally ?
The topic is hot, so please keep calm and polite. I am not employee of Metaquotes and don't have any interested on MT4 or MT5, so don't blame the messenger.
My absolutely personal point of view:
- firstly I'd like to have tick data to back-test on, if this is enabled by mt5 I might think about 'migrating',
- I don't like C++ as I have the feeling that I have to type at least twice as much as C would need (Java is even worse!!),
- I don't like C++ as it is hard to understand a program (of someone else e.g.) you have to jump from file to file and everywhere are only little code-pieces like headlines: functions that calls functions that calls ....
May be that's why the popularity of C++ is decreasing and still is smaller than C.
Personally I do think Objective-C might be the better object-oriented language - but nobody knows it.
Well, the last MQL4 change (30 months ago) represented 4 months of additional hard work with no income for me. And now I can see that the history repeats. The current customers will also start to panic - their investment is in danger. So I have to promise smooth free updates to MT5 though I have no idea if it is realistic, otherwise I have no customers. And I can throw out of the window months of development, which would not fit MT5 environment.
I would appreciate a statement about the migration schedule to calm down customers.
Well, the last MQL4 change (30 months ago) represented 4 months of additional hard work with no income for me. And now I can see that the history repeats. The current customers will also start to panic - their investment is in danger. So I have to promise smooth free updates to MQL5, otherwise I have no customers. And I can throw out of the window months of development, which would not fit MT5 environment.
The hedging/real ticks data features are available in current MT5 beta, official release is tomorrow.
The import custom data, custom charts are planned for this summer (according to Metaquotes CEO).
As far as I know there is no other information available. It's still a bit early to talk about end of MT4 support, but in my opinion it's inevitable.
Thank you, appreciate the info. So, the summer probably means late Autumn in MQs language, so porting the development for the MT5 would start not earlier than the end of 2016.
I believe the transition to MT5 would be smoother than the previous MQL4 update, as the code structure remains. But still, a lot of work ahead and a lot of uncertainty when a coder pays bills from selling the code.
Yes I understand well your point. But you probably could not expect MT4/mql4 to live forever ?
Anyway if you don't know it yet I suggest you to study/test the mql5 trading system (API) as it's VERY different from mql4.
Honestly, after the big MQL4 update I expected the MT5 to die (I mean converge).
I know the orders handling is very different, but I do not expect serious complications in this area. You either buy or sell and that is the main point.