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renko chart in mt5

  • #21
  • May 13, 2019 8:08am May 13, 2019 8:08am
Quoting emmzett
{quote} The only thing you can (and should) do with an MT5 account is... closing it.
I received an email asking me to reconsider closing my account because MT5 offers over 500 stocks from various countries. I already knew that but trading stocks with MT5 is stupid since forex brokers charge swaps while stock brokers charge nothing. It's one more way to milk traders and this was probably one of the reasons to only offer MT5.
  • #22
  • May 15, 2019 8:56am May 15, 2019 8:56am
Quoting emmzett
{quote} The only thing you can (and should) do with an MT5 account is... closing it.
Hello, emmzett. Could You please explain how to use Fractal Volatility indicator?
  • #23
  • Edited 11:15pm May 15, 2019 4:07pm | Edited 11:15pm
Quoting w4rw4r
{quote} Hello, emmzett. Could You please explain how to use Fractal Volatility indicator?
Sorry, I can't help. Never used such an indicator.

Well, I forgot that August last year I was playing with Kaufman Volatility (which is as a type of Fractal Volatility) and with Kaufman Efficiency Ratio. I even rewrote the indicators to get a clearer picture. Immediately after I abandoned the idea. My conclusion was that in today's intraday trading such vola indicators have no predictive value anymore. They signal rising volatility after the fact, something a simple Bollinger Band can much better detect and predict.
It takes blood, sweat and enough tears to wash away the blood.
  • #24
  • Nov 29, 2019 2:58pm Nov 29, 2019 2:58pm
Quoting braintheboss
{quote} MT5 have something better. You can do it with custom symbols evidently
The disadvantage with Custom Symbols is that it is not possible to place a trading robot on the graph afterwards.
  • #25
  • Edited Nov 30, 2019 3:34am Nov 29, 2019 3:17pm | Edited Nov 30, 2019 3:34am
Quoting Agima
{quote} The disadvantage with Custom Symbols is that it is not possible to place a trading robot on the graph afterwards.
I know tester can work with custom symbols then you can use EA for backtest. Look many stuff are for work with tester. Maybe they want their store grow because only features they are improving are language and tester. Precisely both used mainly for their services

In my case not affect me because I only need custom symbols for create feed sessions within a date range
Try don't lose pants never...
  • #26
  • Nov 30, 2019 3:17am Nov 30, 2019 3:17am
Yes, but I don't understand why MetaQuotes doesn't make it easier than that to use Renko and Heinken-Ashi.
Whether it is with MT4 or MT5, it remains a gas factory to be able to use these graphical representations with trading robots.
Some will say that it is easy to calculate Renko candles in a robot, but if you have to redo all the analysis functions (MMA, RSI, MACD...) it starts to become very long and especially a source of bugs.
So I find it strange that with MT5, MetaQuotes did not integrate Renko, Heinken-Ashi and other representations natively into the product as most other publishers do (ProRealTime, TradingView...)
  • #27
  • Nov 30, 2019 4:37am Nov 30, 2019 4:37am
Quoting Agima
Yes, but I don't understand why MetaQuotes doesn't make it easier than that to use Renko and Heinken-Ashi. Whether it is with MT4 or MT5, it remains a gas factory to be able to use these graphical representations with trading robots. Some will say that it is easy to calculate Renko candles in a robot, but if you have to redo all the analysis functions (MMA, RSI, MACD...) it starts to become very long and especially a source of bugs. So I find it strange that with MT5, MetaQuotes did not integrate Renko, Heinken-Ashi and other representations natively...
Platform is enough flexible for allow expand it as you want. Really i don't think as a problem they provide a naked platform. They added news/custom symbols API. For me its more valuable that add different feed representation. I never needed smooth candles for trade. Really I don't think any profitable trader uses them
Try don't lose pants never...
  • #28
  • Nov 30, 2019 10:22am Nov 30, 2019 10:22am
I don't agree with you, because who can do the most can do the least.
The Custom Symbols of MT5 are a nice evolution from the MT4 offline archive, but why not allow trading on custom symbol ??!!
Everyone knows that backtesting is fun, but it's far from enough to validate a robot.
And on MT4, the poor 32bit program that can't take it anymore as soon as you ask it too much, it quickly becomes complicated if you need 2 robots for a pair to be able to do Renko.
  • #29
  • Nov 30, 2019 11:08am Nov 30, 2019 11:08am
Quoting Agima
I don't agree with you, because who can do the most can do the least. The Custom Symbols of MT5 are a nice evolution from the MT4 offline archive, but why not allow trading on custom symbol ??!! Everyone knows that backtesting is fun, but it's far from enough to validate a robot. And on MT4, the poor 32bit program that can't take it anymore as soon as you ask it too much, it quickly becomes complicated if you need 2 robots for a pair to be able to do Renko.
As users we have adapt to platform owner. But any platform is perfect. Always they "miss" something that others have
Try don't lose pants never...
  • #30
  • Nov 30, 2019 11:35am Nov 30, 2019 11:35am
We have no choice but to adapt to the platform and do with what it offers
  • #31
  • Nov 30, 2019 1:21pm Nov 30, 2019 1:21pm
Quoting Agima
We have no choice but to adapt to the platform and do with what it offers
The more comments I read in this thread the more I hate MT5.
  • #32
  • Dec 2, 2019 5:32am Dec 2, 2019 5:32am
Quoting Hutch
{quote} The more comments I read in this thread the more I hate MT5.
I now prefer MT5 for the following reasons:

  1. 64 bits
  2. Much more frequent update by MetaQuotes
  3. I have not found anything that is possible in MT4 and not possible in MT5
  4. Less disk space
  5. Might as well prepare yourself gently at the end of MT4 that will come one day (32-bit abandonment by Windows)

It's more of a choice of reason than anything else as you can see.

  • #33
  • Dec 2, 2019 6:45am Dec 2, 2019 6:45am
Quoting Agima
{quote} I now prefer MT5 for the following reasons: 64 bits Much more frequent update by MetaQuotes I have not found anything that is possible in MT4 and not possible in MT5 Less disk space Might as well prepare yourself gently at the end of MT4 that will come one day (32-bit abandonment by Windows) It's more of a choice of reason than anything else as you can see.
Unfortunately I must agree with you that your points are valid except your statement "I have not found anything that is possible in MT4 and not possible in MT5". Please let us know if this old MT4 indicator works on MT5.
Attached File(s)
File Type: ex4 DeMark Trendline Trader.ex4   59 KB | 297 downloads
  • #34
  • Dec 2, 2019 6:59am Dec 2, 2019 6:59am
Quoting Hutch
{quote} Unfortunately I must agree with you that your points are valid except your statement "I have not found anything that is possible in MT4 and not possible in MT5". Please let us know if this old MT4 indicator works on MT5. {file}
ex4 files of MT4 cannot be transferred to MT5
It is necessary to take the source code, make some modifications, then compile it in order to be able to use it on MT5
The ideal today is to use a library that allows you to have code compatible for both environments, which is not the case with many programs unfortunately.
And MetaQuotes does nothing to help since the company wants everyone to abandon MT4 and switch to MT5
  • #35
  • Dec 2, 2019 7:40am Dec 2, 2019 7:40am
Quoting Agima
{quote} ex4 files of MT4 cannot be transferred to MT5 It is necessary to take the source code, make some modifications, then compile it in order to be able to use it on MT5 The ideal today is to use a library that allows you to have code compatible for both environments, which is not the case with many programs unfortunately. And MetaQuotes does nothing to help since the company wants everyone to abandon MT4 and switch to MT5
Thank you this proves my argument. Here is the source code. Since it was made almost 20 years ago I doubt that it can be converted for use with MT5. Since you haven't found anything that is possible in MT4 and not possible in MT5 please compile it and post it so it can be used by MT5 users.
Attached File(s)
File Type: mq4 DeMark Trendline Trader.mq4   24 KB | 345 downloads
  • #36
  • Dec 2, 2019 7:44am Dec 2, 2019 7:44am
Quoting nahyan
we need renko chart in mt5 , but unlike mt4 it doesn't have offline chart , there is indi for mt5 but it creates rnko in subwindow and it wont update in real time we cant put indi in those . can anyone make renko charts in mt5 using mt5's custom symbol
https://www.mql5.com/en/market/product/29005
if you're doing we all have results with all
  • #37
  • Dec 2, 2019 7:49am Dec 2, 2019 7:49am
Quoting Hutch
{quote} Thank you this proves my argument. Here is the source code. Since it was made almost 20 years ago I doubt that it can be converted for use with MT5. Since you haven't found anything that is possible in MT4 and not possible in MT5 please compile it and post it so it can be used by MT5 users. {file}
1°) This indicator must not be 20 years old because I tried to decompile it with the Ex4_to_mq4 utility and it is not possible. So it's not that old or it's been recompiled in the meantime.
2°) When I said that I didn't find anything feasible in MT4 that couldn't be done in MT5. I was not talking about being able to transfer programs and indicators from one to the other, but about the functionality of the programs. With the source code of your indicator, it would have been perfectly possible to convert it, then compile it into MT5
Hutch, I didn't say that MT5 was a great program and MT4 wasn't. I just said that one day or another, we'll have to switch to MT5 and if it's not because of MetaQuotes, it will probably be because of Windows that will abandon the 32-bit
  • #38
  • Dec 2, 2019 10:32am Dec 2, 2019 10:32am
Quoting Agima
{quote} 1°) This indicator must not be 20 years old because I tried to decompile it with the Ex4_to_mq4 utility and it is not possible. So it's not that old or it's been recompiled in the meantime. 2°) When I said that I didn't find anything feasible in MT4 that couldn't be done in MT5. I was not talking about being able to transfer programs and indicators from one to the other, but about the functionality of the programs. With the source code of your indicator, it would have been perfectly possible to convert it, then compile it into MT5 Hutch,...
I provided the source file in my last post. When you open it with the MT4 MetaEditor you will see that the property copyright on the source file shows that it is from 2005. You can copy the file and transfer it to the MT5 MetaEditor then compile it and see if that indicator works using MT5 although you may need to update some coding lines. I think that you agree with me that the MT5 Renko capabilities are below par. Other things that are not good in MT5 are that hedging is impossible and you have to use FIFO. However, the worst thing, as far as I'm concerned, is that Metaquotes did not bother to program MT5 so that all EAs and indicators that worked with MT4 would also work using MT5. I guess the thinking was that traders would switch to MT5 but it hasn't been the case since, after the release of MT5 in 2009, the majority of traders still use MT4 ten years later. I also very much doubt that Microsoft will abandon 32-bit programming because there are tens of millions of programs that work using 32-bit and some are even backward compatible to 16-bit and 8-bit.
  • #39
  • Edited 11:00am Dec 2, 2019 10:40am | Edited 11:00am
Quoting Hutch
{quote} I provided the source file in my last post. When you open it with the MT4 MetaEditor you will see that the property copyright on the source file shows that it is from 2005. You can copy the file and transfer it to the MT5 MetaEditor then compile it and see if that indicator works using MT5 although you may need to update some coding lines. I think that you agree with me that the MT5 Renko capabilities are below par. Other things that are not good in MT5 are that hedging is impossible and you have to use FIFO. However, the worst thing, as...
I think your clock stopped 2 years ago because hedge is supported long time ago...
Try don't lose pants never...
  • #40
  • Dec 16, 2020 6:48pm Dec 16, 2020 6:48pm
Hi Bro, could you please tell me if in MT5 you can move the BID/ASK whindow from de left top position in the chart to botton righ, because is more easy to trade scalp whith one click for me. Is posible and how? Thanks for your answers.
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