MetaTrader 5 Client Terminal

Two years ago we started the development of MetaTrader 5 platform. Now this work is approaching completion and by autumn we are planning to release the new platform. Beta testing of the new client terminal and MQL5 development environment starts in summer.

The trading system of the MetaTrader 5 terminal was re-written from scratch, as well as the whole platform. As compared to MetaTrader 4, trading possibilities of the new terminal are much wider. First of all, the MetaTrader 5 terminal allows working in various markets. Directly from the terminal you will be able both to execute trading operation in Forex and work with options, futures and stocks.

http://forum.mql4.com/c/forum/2009/0...t_terminal.png

Secondly, in addition to already familiar Market Watch, the Depth of Market will be available in MetaTrader 5. This tool is necessary for working in stock markets. Thirdly, the order system is extended: the total number of order types is equal to 5 (in MetaTrader 4 there are 4 types of orders).

MetaTrader 5 terminal supports 4 types of operation execution: Market, Instant, Request and Exchange. The new execution type Exchange is developed for processing trade operations with stock symbols.

Profound differences between notions of position, order and trade appeared in MetaTrader 5. Order is a request to execute a trade operation, the result of which can be a trade. A position is the total state of trades on a certain financial security. Any financial security can have only one position.

http://forum.mql4.com/c/articles/200...ositions_1.png
Differences between trade positions in MetaTrader 4 and MetaTrader 5

Special reports are available in the new terminal for the convenient analysis of trading activities. Reports show not only initial and final deposit values, but also other parameters. Using these reports, you will know such results of your trading as, for example, GHPR, Z-score, Profit Factor and others.

Analytics

Analyzing price dynamics of financial securities is the most important component of a successful trading experience. In MetaTrader 5 we tried to provide traders with as many analytical tools as possible.


Three types of charts are available in MetaTrader 5: broken line, Japanese candlesticks and bars. For the analysis of these data 38 built-in indicators, 39 graphical objects and the large variety of MQL5 indicators can be used. All these analytical tools can be combined in different ways: objects can be applied to indicators; indicators can be built on the basis of other indicators and so on.

The history of quotes in MetaTrader 5 is stored only in M1 form and all charts are built based on them. This solution allows extending the number of timeframes up to 21, so that any period from minute to month can be used to analyze quotes. The main limitation on timeframes is their multiplicity: one hour must contain the integer number of minute periods. The following timeframes comply with this rule: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.

Besides, format of history data storing in MetaTrader 5 is space-efficient. For example, M1 history of GBPUSD quotes for ten years occupies about 10 MB only. This history being downloaded once, you will be able to build any charts on this symbol starting from M1 till MN1.


Autotrading

The integrated development environment MQL5 is responsible for the development and use of Expert Advisors, custom indicators and scripts in MetaTrader 5. It includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5).

The MQL5 language for programming trading strategies is distinct for high speed of execution and approaches C++ in terms of this parameter. As compared to MQL4, the new language is 4-20 times quicker. This allows using more complex Expert Advisors able to process large amounts of data per time unit and therefore obtain more precise forecasts of price dynamics. Besides, the new language is object-oriented which makes the development of Expert Advisors quicker and easier.

http://forum.mql4.com/c/forum/2009/05/MT5_debug.png

For writing Expert Advisors MetaEditor 5 is used, which includes the new IntellySence system. It automatically completes various constructions of the language thus quickening the EA development process. The built-in debugger allows to quickly find errors and fix them. After the EA is ready and its compilation is performed, it automatically appears in the terminal and can be immediately started to work in the market.

MetaTrader 5 Strategy Tester is a very powerful tool for any developer of Expert Advisors. It helps to obtain results of an EA behavior on the history before using it in real trading. Detailed reports on a trading system allow to estimate the Expert Advisor and detect its weak points, as well as to compare the EA with other developments. Besides, optimization of Expert Advisors allows to define the most efficient parameters of their variables and make the EA maximally profitable.

Very nice.. I like Intellisense.. I remeber when it was first introduced, in VB6.. The good ol' time.

Question:
Will MT4 EAs and Indicators work in MT5?

Thanks!

MT5 is looking cool already. Have any of the beta testers tried it in Linux under WINE? I run MT4 in Linux for safety of my accounts from keylogger trojans and viruses.

What about a linux native version?

Good question and on the other side will MT5 EA's and Indicators compiled under MT5 be backwards compatible with MT4? Just in case we all don't want to update to MT5 right away when it comes out.

is there a Demo I could test available for download right now?

http://icanhascheezburger.files.word...05/do-want.jpg

Unfortunately, MQL4 EAs are not compatible with MQL5. From the beginning of the MetaTrader 5 development we wanted to save the compatibility, but its appeared to be too complicated.

Unfortunately, we never thought to the terminal for Linux. Look like you will have to run it under WINE, as you did with MetaTrader 4.

Tjpld, nice picture

That's a VERY BAD news,I have so many GOOD EA's and indicators for MT4!

Is there any way to easily convert EAs/indicators to MT5? Or maybe a function which allows us to import signals from MT4 into MT5?

Some kind of MT4 to MT5 code converter is a MUST!!!

If not, I think I will just switch back to AmiBroker and convert what I am using or take all of my business over to IB with TradeStation. I actually like what I can do in MT4 better than TradeStation, but I am not going to go through this every time they make an ill-conceived update; not taking their end users into consideration. This is very poor customer relations.

Will anything change to the bars/candles?

Can't see what else matters other than the price feed?




Glad to hear it works with wine still though.

Agreed... I'll be staying with 4 for a long time it seems until we get some sort of app or go through the trouble of having to rewrite so much code.

MLQ5 will be very different from MLQ4 ? I mean will all the functions and keywords be the same and something extra ? Because if it will be like this than we simply have to change extention to all our files from .MQ4 to MQ5. If not that ... well .... lots of people will be very sad .... Me included

LOL, the price feed of any MT4 broker is the least accurate thing they have. I like being able to write scripts that can do complex orders. This is how I have avoided most re-quotes and other shenanigans from these retailers.

I do agree with your above remark. Too bad that is the most contentious area of any MT4 broker.

Same old mistakes, why do they insist on creating their own language as opposed to providing an API so the developer can leverage the already available far superior tools for debugging and development? It just makes no sense, especially since they have not seen fit to retain backward compatibility. But it certainly looks purdy.

I'm surprised nobody has busted a cog over the lack of 'hedging'

Oh now that's something I can't argue with... its more unreliable than a volume based strategy!

But, spot FX is give or take a few pips anyhow so it'll do! Its a handy guide alongside broker prices...

That's not the old 'going long sterling/yen and short at the same time chestnut is it?!'

Yea, merlin coined it Nedging, because it is newbie hedging. LOL.

Interview with Stanislav Starikov: Features of New MQL5

Stan, due to the prodding of Merlin, was convinced that Nedging was no longer useful, so he did not include it while coding MQL5.

i don't' why they don't include hedging. t works IF you know how to use the EA's that are programmed for it http://testing1234.mt4stats.com/ proves that.