A wish list for MT4

MT4 is really the most popular platforms for retail traders. However, let us list its limitations

Continuing with this thread
http://www.forexfactory.com/showthread.php?t=80829

I believe still MT4 has more limitations to be listed.

What do you think the most limitation that bother you in MT4? And what is your suggestion to solve it as a wish list item?

I hope you share us with only one or two of the most important issues, from your point of view.

No “One cancels the other” order as internal function in MT4. You need a script for it

It's probably fair to say that MT4 was written primarily for br0kers, then programmers, and finally traders.

MT4's trading platform is deliberately minimalist, because its programming language allows you to automate virtually any kind of aspect of your trading. A half decent programmer can easily code not only OCO, but order systems that use multiple entry and exit points, conditional orders, straddles, grids, baskets, and any MM rules -- whatever's needed. And your entries and exits can be coded according to any combo of TA and 'price action' that you wish. If you're a programmer, MT4 is amazingly open-ended (and being free, it's cheaper than any other product that offers that kind of functionality). But if you're a trader who doesn't know how to code, then you're stuck with basic market and pending orders. In other words, the list of potential limitations is pretty much going to be your entire wish list, whatever it might be.

The same could be said about MT4's charting platform, where only a couple of dozen commonly used indicators, and a handful of line studies, are factory supplied. But check out some of the flash looking meters, dashboards, simulators, etc etc that have all been created using MQL4. They are a testimony to what is possible ---- again, if you're a programmer.

MT4's open-ended design philosophy was probably a result of something like: "well, we can't possibly cater for every possible trader's requirement, so let's provide a full-featured multi-purpose programming language, and let them develop anything that they want for themselves".

Br0kers pay MetaQuotes for a license to run MT4, hence it's only fair that their wish lists are prioritized, and if necessary, to the detriment of traders, who get to use the product for free. Hence traders who complain about br0ker duplicity, poor MT4 performance, latency, bugs in EAs that they're running, lack of trading/charting facilities etc etc should perhaps keep in mind that, no matter what their take on the imitations of MT4 might be, they're still getting more than their money's worth.