I've been using Metatrader 5 for the past week or so and I'm really liking it. My broker just started offering it and it would cut out that awful IB interface out of the equation. The only real downside I've seen so far is it forces you to use GMT and the steep learning curve of the scripting language. But, I'm wondering if there is something I'm missing. Is there something Amibroker can do that MT5 can't? Anyone have any other opinions?
I can't tell you what MT can do BUT I can list some things that AB can do and you can take it from there .. 1) You can create triggers based on foreign tickers. ex. given a list of energy stocks you can create scans/backtests which introduces a foreign ticker into your buy criteria like WTI Crude or OIH ETf. 2) You can create your own virtual indices so using the same example above, you can create "myoilindex" comprised of (WTI+oih+Exon)/3 3) and use it for triggers 3) you can create option payoffs so again using above example. I want to sell puts whenever OIH goes above a moving average. How will it perform? 4) you can be creative with stops eg... buy 10AM sell at 3:45pm. I am sure there are similarities in functionality between AB, MT, Ninja,etc. but the differences lie in the last 10% which u might need or could care less about. Good luck.
Metaquotes continue developing MT5, that's for sure. They recently released a an updated version of the iOS application of the trading platform. The upgrade provides MT5 iOS users with the possibility to view market statistics of financial instruments traded in the exchange execution mode.