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.
I hope you solved the moving trendline problem in metatrader4. When you plot a trendline and switch timeframe, the trendline moves and doesn't remain on the samle levels in different timeframes...I hate this..so I have to use other platforms too
Did you managed to solve the memory issues like in MT4? Will there be multi core optimalisation? Are Calculations optimized when using charts with lots of indicators? Can we use range bar charts if so is it possible to backtest on rangebar charts? What about the backtester? New detailed reports, daily, monthly reports, portfolio testing, any chance?
Would like to see a capability to plug in to external data feeds. Any chance of this, or perhaps there is already a way?
It wasnt a problem. You just should understand how it works. For example you are working on a 5M timeframe and placing a trend with starting point on 21:25. Then you switching to H1-period and terminal redraws the line. But in this case he has not ability to place it directly on the same point. The minimal step in H1 is one hour. The bars are build on 21:00, 22:00, 23:00 and so on. There is no any minutes any more. So terminal places the trendline on a nearest points. In our case its 21:00. That how it works and its not an issue.
We never heard of most of these "issues". Please give the detailed descriptions about "memory issues", "core optimization", "range bars" on www.mql4.com. Our developers will answer if you supply your questions with the details. Now they just not sure that understand you well. For example, what is a "memory issues"? lol "Backtester reports" is the only thing we understood. And our answer: yes, there are a new detailed reports in MetaTrader 5.
Of course, no. The MetaTrader 5 Client Terminal is a part of MetaTrader 5 Trading Platform. It can work only in a frame of the Platform. Its designed to connect to MetaTrader 5 servers only, which are providing the data feeds and perform the trading operations. At the same time you may load the prepared history data to the terminal to analyze it. But it will be only a history and, of course, you will not be able to trade on it.
Thanks! its very intersting! but it would be more interesting to read a comparison not between mt4 and mt5... could you comapare mt5 and product of other company?
It looks like you have already had an inquiry from your forums by user "MrH" . His inquiry is quoted <b> "Too bad you are once again neglecting alternative methods of displaying price, like Renko bricks, Constant Range Bars and Equal Volume Charts."</b> Perhaps you should address these issues before releasing a platform without the tools that some traders use like those mentioned and possible "tic charts" "P&F" and other charting methods
Our experience show, that the huge army of traders do not need such rare things. If we will understand that the amount of such requests is increasing we will do it. But for now its your empty "issues" and ONE request from one man. Have a nice day.