For with good knowledge of the two software programs which would be better to code a mechanical strategy. I am more interested in which would be better for actually just coding a strategy, thats all. Thanks.
If it comes down to just those two choices, I would have to say TradeStation simply for the data quality issues. All of the MetaTrader brokers are notoriously bad when it comes to data quality - inaccurate close times, Sunday candles, non-conformity to interbank trading hours, etc. That's just the tip of the iceberg, you also have to factor in all of the spread games inherent in the dealing desk environment. Case and point, run the same system on any two different MT4 brokers and you'll come up with completely different results (sometimes drastically different). TradeStation also widens their spreads (they use Gain, but add 0.5 pip to Gain's spreads). Since they charge the same commission, essentially this is outright fraud on behalf of TradeStation, but in the wild west world of unregulated FX, anything goes. What I would really recommend is using eSignal's feed (aggregate of 140 banks) and import that into any other advanced system software (ex. Amibroker) and then trade with an ECN that supports API trading (IB, Dukascopy, etc).
Ahhh.......i guess you always have to tread softly when dealing with the retail fx market. I have acutually taken a look at the data quality issues on metatrader and you are right very bad, just last week i was looking at their 1min data and it jumped from around Dec28 to Jan 7. Looking at the TS, it is very clean but i guess it just means that if you use metatrader, you have to buy your own data which comes at a good price. My main issue is that i have tried coding some stuff on TS and it lacks a dergree of flexiblity. I was hoping in finding out if metatrader offers more from a programming point of view. PS. I had used the esignal data feed for about two years, but it really doesnt add value as there is some much variance in the qoutes from all those 140 guys but i have noticed that over the years fx qouting is actually much better now than 6yrs ago.