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My MT5 Corner

  • #61
  • Nov 11, 2018 3:34am Nov 11, 2018 3:34am
Quoting MetBo
{quote} Well, if you check the release notes of both you will see that MT4 only gets corrections/ minor improvements. While MT5 gets major improvements, new functions. Some days ago they introduced a new function to dock/ undock your charts or they announced the compatibly with .net framework. The latest version is much more stable etc. So MT5 is getting better and better. I see no reasons to leave MT5.
I don't see issues with people using MT5 for manual trading. Don't know, may be you don't know the platform as long as I do but docked charts have been a MT4 feature already 6-7 years ago. Until MetaQuotes blocked 3rd party plugins. Now they introduce it as something new. What a joke.
It takes blood, sweat and enough tears to wash away the blood.
  • #62
  • Nov 11, 2018 3:36am Nov 11, 2018 3:36am
What I like about MT5 (compared to MT4) so far:

  1. Execution Speed
  2. Additional Order Types
  3. Real Ticks history
  4. Multi-Symbol back testing

No guts, no glory
  • #63
  • Nov 11, 2018 3:50am Nov 11, 2018 3:50am
Quoting MetBo
{quote} Well, if you check the release notes of both you will see that MT4 only gets corrections/ minor improvements. While MT5 gets major improvements, new functions. Some days ago they introduced a new function to dock/ undock your charts or they announced the compatibly with .net framework. The latest version is much more stable etc. So MT5 is getting better and better. I see no reasons to leave MT5.
Hey MetBo,
This is a very interesting thread.
I think you cannot ignore the very series complains emmzett has about MT5 but of course you have your own opinion and I think MT5 or MT4 can be as useful to you as much as what you want to use them for.
I am gladly coming to the understanding of major differences between MT4 or MT5, if you ask people about it most of them can't really tell the differences and what ever they say it doesn't make much sense because not much practicality in it.
  • #64
  • Nov 11, 2018 4:02am Nov 11, 2018 4:02am
Quoting emmzett
{quote} MetaTrader5 was introduced at the 09 of September 2009 and since then MetaQuotes hasn't been able to release a version as stable and usable as MetaTrader4. One year in this now decade-old story is not much. The truth is that there's no hope for MT5. The obvious reason and show-stopper is the missing programmatic access to price history, but what really kills people in the long run is the bugginess and lack of stability. Every single released build introduces more bugs and an end is not in sight. Waiting for MT6 is not an option as I have...
Thanks a lot emmzett, I really appreciate your comment and the advise.
Thank God I have a very series mentor on automated trading (MT4 and MT5) and when I began my training the big question was if I should learn MT5 only or MT4 too?
When I asked him he didn't advocate for any of them but wasn't suggesting too much either. Now I see he wanted me to get my own experience and he is waiting for me to come to a conclusion
Ever since I spent more time with MT5 but I have learned MT4 too.
My conclusion is that I will not neglect MT4 and I will continue with both to pro level so I will always know which one to use for a given task. Clearly MT5 is not absolute superior of MT4, so I am wondering what MetaQuotes is up to but I am almost sure they will come out with MT6 soon or later and I hope it will not confuse us even more...

emmzett, how could I talk with you in private?
And do you know how to code in mql5?
  • #65
  • Nov 11, 2018 1:18pm Nov 11, 2018 1:18pm
ok guys,
why should MetaQuotes release a MT6 instead of continue their work on MT5? What could they improve in MT6, what they can't in MT5?
The big difference between MT4 and MT5 is the architecture. MT4 is built with 32bit and MT5 is build with 64bit; so from the basic principle, MT5 is the logical next step.

Quoting emmzett
{quote} I don't see issues with people using MT5 for manual trading. Don't know, may be you don't know the platform as long as I do but docked charts have been a MT4 feature already 6-7 years ago. Until MetaQuotes blocked 3rd party plugins. Now they introduce it as something new. What a joke.
Yes i know, but why should i pay money for a plugin?? when i can use it for free directly integrated into the platform?

Anyway, it depends on your requirements which platform fits at best. It's like Android fans vs. Apple fans ..... Use the platform you like till its dead.
  • #66
  • Edited 4:57pm Nov 11, 2018 1:24pm | Edited 4:57pm
Quoting Gihon
{quote} Thanks a lot emmzett, I really appreciate your comment and the advise...
...how could I talk with you in private? And do you know how to code in mql5?
There is a private messaging function here. You are welcome. :-)

Yes, you could say that I know how to code in MQL5. I'm a fulltime software developer in multiple languages for the last 18 years. However I'm not available for hire. I'm also the author of a free MQL4 development framework consisting of multiple sub-projects, which you can find here:

https://github.com/rosasurfer/

These projects are for MetaTrader 4. For example one can download, create and update real tickdata (from Dukascopy), or create synthetic instruments and chart them in real-time, or write history sets of all available timeframes at once. At the moment I'm working on a test analyzer more powerfull then anything from MetaQuotes. I'm also thinking about publishing this as a free online service, but at the moment it's too early for that.

Be aware that I intentionally don't support MetaTrader5, and I have no plans to change that decision.
It takes blood, sweat and enough tears to wash away the blood.
  • #67
  • Nov 11, 2018 1:29pm Nov 11, 2018 1:29pm
Quoting MetBo
ok guys, why should MetaQuotes release a MT6 instead of continue their work on MT5? What could they improve in MT6, what they can't in MT5? The big difference between MT4 and MT5 is the architecture. MT4 is built with 32bit and MT5 is build with 64bit; so from the basic principle, MT5 is the logical next step. {quote} Yes i know, but why should i pay money for a plugin?? when i can use it for free directly integrated into the platform? Anyway, it depends on your requirements which platform fits at best. It's like Android fans vs. Apple fans ........
I can't see a MT6 at the horizont. MetaQuotes made a huge mis-calculation with MT5 but that is the version we have now and over time MT4 users will become less and power users will start to forget what once existed and just go with what is currently available. MetaQuotes is in a difficult situation. The cannot give up MT4 because that's where they make money with, and they cannot afford to give up MT5 because that's where they invested all their money. The only chance they have is to make people slowly forget about MT4 and to hope that they are able to survive that time, because it will be a long and draining process. We are now at 10 years, an end is not in sight and MetaQuotes has to offer MT5 for less than MT4 to customers (as nobody wants it). The future will show if the company can survive.
It takes blood, sweat and enough tears to wash away the blood.
  • #68
  • Nov 12, 2018 6:18pm Nov 12, 2018 6:18pm
Quoting emmzett
{quote} I can't see a MT6 at the horizont. MetaQuotes made a huge mis-calculation with MT5 but that is the version we have now and over time MT4 users will become less and power users will start to forget what once existed and just go with what is currently available. MetaQuotes is in a difficult situation. The cannot give up MT4 because that's where they make money with, and they cannot afford to give up MT5 because that's where they invested all their money. The only chance they have is to make people slowly forget about MT4 and to hope that they...
It's totally logical what you say but if the company want to survive they rally have to pull up their socks because there are already a few alternatives to Metatrader and more is on the way... So they have to come up with something that is better than the competition and if we look at the customers nobody is really satisfied with MT4 nor MT5. Recently they have removed the option of reaching out to service desk or reporting a bug unless it is a financial matter.

Interesting move. Their only chance is something new, something clean and rocking which works smoothly.

Anyway, let's see what the future brings.
  • #69
  • Nov 30, 2018 2:17am Nov 30, 2018 2:17am
Look at what kind of joke this platform is: https://www.mql5.com/en/forum/292659
After 10 years of development they don't even got the resource handling right.
And what is the response from MetaQuotes? They say in all seriousness "You have to release an invalid handle."

Inserted Code
int hInd = ChartIndicatorGet(0, 0, shortname);
if (hInd == INVALID_HANDLE) {
    IndicatorRelease(hInd);
}
Of course their "recommendation" doesn't fix the issue but just opens another can of worms. MetaTrader5 is still in alpha stage.
It takes blood, sweat and enough tears to wash away the blood.
  • #70
  • Dec 8, 2018 1:31am Dec 8, 2018 1:31am
MT4 and MT5 memory management comparison - MetaTrader 5 very poor

Quoting Tsvetan Tsvetanov
This problem with MT5 is not new. It was like this from the first version in 2010. And the fact that MetaQuotes did not fix these problems for so many years means that there is some major flaw in the architecture of the platform.
...
Currently MT5 is slower than MT4 in almost every aspect and it consumes more resources. I also notice that the trade execution in real time takes on average 2.5 times longer on MT5 using the same broker. Only the tester is better because it allows you to trade portfolios with multiple symbols using real tick data.
Nothing more to add except that the tester is useless too, because it doesn't allow programmatic access to the history anymore.

PS: MetaQuotes has the tendency to remove/censor critical posts shortly after they are made. It may well be that tomorrow the link...disappeared.
It takes blood, sweat and enough tears to wash away the blood.
  • #71
  • Dec 10, 2018 3:48am Dec 10, 2018 3:48am
As predicted MetaQuotes censored the article, rephrased the original title (see above) and removed the main conclusion.
It takes blood, sweat and enough tears to wash away the blood.
  • #72
  • Apr 18, 2019 3:30am Apr 18, 2019 3:30am
Quoting emmzett
As predicted MetaQuotes censored the article, rephrased the original title (see above) and removed the main conclusion.
I have to agree, MQ and MQL is a total POS now. I wish more brokers offered APIs, but why offer an API when you can use the MetaDeskClientRipperOffer.
  • #73
  • Apr 18, 2019 3:52am Apr 18, 2019 3:52am
After reading some constraints or problems when using the MT5 platform... I started losing my motivation in migrating the MT4 indis I used to MT5.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #74
  • Jul 24, 2019 10:20am Jul 24, 2019 10:20am
Quoting abokwaik
Need4Speed indicator / mt5 version. For more info refer to Need4Speed thread. {file}
Thank you! Is there anyway you can make this into an EA for MT5?
  • #75
  • Jul 26, 2019 3:05am Jul 26, 2019 3:05am
Hello everyone, I surely need your advice with regards to my mt5 data usage. I happen to be incurring over 400Mb per hour in just analysing the markets and it's really suffocating especially that I have a limit to my data usage.
What should I do to cut down on this extreme consumption of data? My mt4 works pretty well at a low usage, but ever since I started using mt5 for binary trading things have really been bad. I need your help.
  • #76
  • Jul 26, 2019 10:06am Jul 26, 2019 10:06am
Is anyone able to convert this useful indicator used by many people of this forum and others to MT5?
Attached File(s)
File Type: mq4 TradeReport_compact.mq4   53 KB | 400 downloads
  • #77
  • Sep 13, 2023 12:53pm Sep 13, 2023 12:53pm
Quoting abokwaik
Need4Speed indicator / mt5 version. For more info refer to Need4Speed thread. {file}
Hi abokwaik. Any chance you can make this with readable buffers as a histogram and with optional atr percent for the points calculation?
  • #78
  • Sep 23, 2023 4:24am Sep 23, 2023 4:24am
I'm looking for Previous day hilo for MT5 or the ISM_Daily_hilo [this is preferable], can someone help with this indi please...thankx.
  • #79
  • Sep 23, 2023 12:22pm Sep 23, 2023 12:22pm
Quoting forexday
I'm looking for Previous day hilo for MT5 or the ISM_Daily_hilo [this is preferable], can someone help with this indi please...thankx.
I use this for previous day, week, and month highs and lows.

https://www.mql5.com/en/market/produ...low+open+close
Virtue signaling is for those who are devoid of actual virtue
  • #80
  • Sep 25, 2023 2:08pm Sep 25, 2023 2:08pm
Quoting Butters
{quote} I use this for previous day, week, and month highs and lows. https://www.mql5.com/en/market/produ...low+open+close
thank you Butters, appreciate it..will give it a try now thankx mate..
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