Metaquotes

Comparison between MT4 and MT5

Metatrader 5 is highly awaited system for its users. The developers have said that it will be released in near future. Many things are said about its new advanced features as compared to Metatrader 4. It will allow working on much wider range of markets than mt4. Metatrader 5 has introduced new programming language for indicators, expert advisors and trading strategies whereas MT4 had different programming language for all this. There are certain features that have been enhanced or removed from metatrader 4 for users’ benefit. Sadly there is no compatibility between MT4 and MT5. It cannot be called as the updated version of metatrader 4 as the client terminal is rewritten completely.

In metatrader 5 there is new integrated development environment called as MQL5. This environment has Metatrader 5 Strategy Tester, MetaTrader 5, and MetaEditor 5 and MetaQuotes language 5 (MQL5). Due to this, all the indicators and expert advisors have been re-written in Metatrader 5. MQL 5 has been made powerful for traders and developers by adding more features as the compatibility could not be preserved as stated by MetaQuotes. They also said that the language will provide faster execution speed which will be almost 20 times faster than previous language. Initially they thought that they will be able to make this platform well-suited with metatrader 4 but that was not the case. So to compensate this problem they developed many other features. MQL 5 is more object oriented then MQL 4 which makes the progress of expert advisors faster and smoother particularly for autotrader developers.

In addition, MQL 5 will enable the usage of difficult expert advisor’s which are capable of processing large amount of data per time and hence will gain more exact forecasts of price dynamics. Its programming environment has introduced new intelligence system which helps to speed up the development process. Metatrader 4 did not have any such systems to improve their development process. The built-in debugger for testing is faster in finding and resolving errors as compared to previous version. The difference between Metatrader 5 Strategy Tester from MT4 is not much apart from its advanced system. It also has 5 order types and 4 execution modes for trading.

The order management system is also changed completely in metatrader 5. Here an order is a request to execute a trade operation whose outcome can be trade. You can have infinite order but the resulting position per pair will be only one. This change was made in order to make metatrader 5 compatible with other markets. Thus by equalizing the long and short trades into one position, mt5 will eliminate the hedge ability. In the end Metatrader 5 has reduced many problems that were faced by the traders using MT4.

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