Metatrader 5

[gkris6]

Re: MQL5 Manual draft released

 

Does anyone know if the EA's will continue to work on MT5?

Kris

[manganate]

Re: MQL5 Manual draft released

 

EX4 ea will not work on MT5 platform, as far as I know because coding is more toward C/C++ than MT4 was.

This should mean that decompiling will be easier. :D

 

I found the following summary info - hope it is of some use:

 

 

 

 

The major changes in MetaTrader 5

 

 

MetaTrader5 improvements

 

- High performance and outstanding working speed;

- 3 chart-types, 21 timeframes and over 70 analytical tools;

- 5 order types and 4 execution modes available for trading;

- trading operations on different markets (Forex, options, futures and stocks, DOM – depth of market feature);

- Advanced built-in reports on all trading activities;

- Working with MQL5 will be easier: there will be more data types, structures, classes; it’ll be easier to transfer C++ source codes into MQL5, EA execution speed will increase.

 

MT4 and MT5 compatibility

 

Unfortunately, Metatrader4 Language (MQL4) will not be compatible with MetaTrader 5 (MQL5). The

 

decision was made in favor of new opportunities in programming language and execution speed, which to

 

some regret of existing MT4 clients means, their custom indicators and EAs (.mq4 and .ex4 files) won’t

 

work with MT5 platform; and need to be rewritten.

 

Here is the official announcement about MQ4 and MQ5 compatibility:

 

"From the beginning of Metatrader 5 development we thought that we will be able to save the

 

compatibility. And we said about it many times. But the numerous traders/developers requests made us

 

change our mind. We`ve understood that just can’t make a new language compatible. At the same time we

 

have made MQL5 more powerful and in this way we gave you, traders and developers, more abilities -

 

that was our main goal in developing of MQL5 IDE. From one side, new language with the new abilities,

 

and from the other side - MQL4 and MQL5 compatibility. Unfortunately, these two aims can’t be reached

 

at the same time."

 

The interview with the leading developer at Metaquotes.

 

Common sense suggests that there should probably be some thoughts on adding MT4/MT5 compatibility

 

tool, after all not all Forex traders are experienced C++ or MQL programmers, but vast majority of

 

them uses custom MT4 indicators nowadays. But this is just hopes…

 

MT5 position/order management

 

To meet Forex industry standards, MT5 has changed the entire core of position handling. From now on

 

MT5 traders will be able to keep only one position of any single trading instrument/currency pair.

 

Hedging at this point is eliminated and so is the separate management of two different in time orders on the same currency pair.

 

For example,

8:00am Long EURUSD 1 lot @ 1.2000,

and later added

12:00am Long EURUSD 2 lots @1.2500,

 

will be seen on Metatrader 5 account as one position "Long EURUSD 3 lots".

 

This reflection of orders aligns with the new FIFO (first-in, first-out) rule implemented by NFA as an industry standard in summer 2009.

 

Closing the above mentioned orders will now look next way:

The first order to close is always the order that was initiated first, so it’ll always be the 8:00am. Long position to close in our example above.

 

Buying and Selling the same pair (hedging strategy) will result in zero positions being open.

 

 

Will all Forex brokers transfer to MetaTrader 5?

 

Definitely all NFA regulated Forex brokers in US will make the transfer, as they have to comply with new NFA rules.

 

Regarding other Forex brokers, we believe they will be free to choose: stay with MT4 or upgrade to MT5. Retail clients are expected to influence the choice: while there is a large demand for MT4 platform base due to extensive use of MT4 custom indicators and reluctance to give up hedging and customary position management style, retail brokers should be able to provide the option.

 

If, however, there will be a tool to convert existing Expert advisors and indictors from MT4 to MT5, the process of introducing new MT5 platform to retail clients will be smoother.

 

 

 

[vinsley]

Metatrader 5= x use for mq4 indicator?

 

Halooo!! :) Here is the story.I already develop a system with modified indicator,then i here that Metatrader company will introduce new client terminal which is call Metatrader 5; using mq5 as its indicator's file extension and new programming code for fast and accurate result.

So i just want to hear ur voice/comment about this.This will be in the end of this year.

My question would be:

1.Is tht any converter to convert my mq4 file into mq5 file?

2.If no,what can i do for this? :((

 

 

A statement likes this:

"MT5 has a new integrated development environment called MQL5 which includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5). Unfortunately the MQL4 and MQL5 languages are not compatible. This means that every custom indicator and EA must be rewritten to work with Metatrader 5. It is not clear yet if there will be a tool which converts the MQL4 source code to MQL5 or allows MQL4 executables to run in MT5."

 

So scare to heard that..

I just a normal student ,x a programmer de.I dun know how to do

Plz give some comment on this.

Thank for reading

[Hacker1713006064]

Re: Metatrader 5= x use for mq4 indicator?

 

Theres already a MT5 thread over here...

 

http://www.indo-investasi.com/viewtopic.php?f=5&t=3295&hilit=mt5

[vladv]

Re: Metatrader 5= x use for mq4 indicator?

 

I think that we will have to recode all/most of our EAs and indicators for the new MetaTrader5 platform......

[traderethan]

Re: Metatrader 5= x use for mq4 indicator?

 

it is troublesome if mq4 needs to be recoded into mq5 :-??