MQL5/MT5 | Forex Factory

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MQL5/MT5

  • #1
  • First Post: Aug 22, 2010 11:58am Aug 22, 2010 11:58am
I just downloaded a MQL5 demo platform today and wrote a little EA. I notice there's no more history data and it [Apari UK] downloads the data for the backtest automatically. (This is definately welcome)

Anybody here got any more experience of MT5? It doesn't seem to be widely adopted yet but I'd say it will as MT4 is old and buggy. Also, for this backtest I'm using the default MT5 EURUSD tick data. Anybody know how good this data is? There seems to be 10-20 ticks per minute. Is this the exact same data as the live prices or is it doctored or stripped-down somehow?

I attached the chart for backtest on Jan 1 2009-Present. Seems a very good result but as it uses a scalping strategy of 80-pip (5 digit broker) for TP and SL I'd be a bit worried about slippage (deviation). I have it set to zero. Also there's this new ORDER_FILL parameter (or whatever its called) I don't have a clue what this is about so if someone can enlighten me I'd be happy. The manual doesn't explain it ery well.
Attached Image (click to enlarge)
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  • #2
  • Sep 17, 2010 1:24pm Sep 17, 2010 1:24pm
FrinkFX, can you share or sell the ea that you written?
  • #3
  • Sep 17, 2010 1:52pm Sep 17, 2010 1:52pm
Could you post a step by step setup on how to do backtesting on MT5? I am just start to look at it.

Thanks!
  • #4
  • Sep 24, 2010 11:18am Sep 24, 2010 11:18am
I re-wrote this EA on MQL4 and it failed miserably. The reason it worked so well on MT5 had something to do with the way it interpolates missing data.
  • #5
  • Nov 28, 2010 8:49pm Nov 28, 2010 8:49pm
I've spend the last year or two learning mt4 and while it can't do everything, its intuitive. Through iterative attempts, you can teach yourself the code. Almost all the code for and EA sits on the same page. Modifications are easy because its all in front of you. Its because of this, thousands, perhaps of millions of forex enthusiasts and traders love it.

Now, with MQL5, holy @$%#. Every thing depends on something else, and its all hidden away in folders and sub-folders, none of it... let me repeat NONE... of it is intuitive. Its a game of remembering 1,000,000 littles rules and hiding things away. If you forget a rule and can't find where the sob is hidden, your dead in the water. Nothing is already created. You have to create your own objects to use. You can't just throw an indicator on a chart and make a simple EA to trade off of it.

Not only that, its a bastardized version of C++ so even if you felt like learning C++ that can also enable you to use it for other applications, MQL5 is not-but-almost C++, just more confusing. Can't be used for anything else.

I've made several attempts, maybe 7 or so, to follow tutorials for MQL5, and started reading the reference pdf file. My brain just shuts down and goes out the back door. I looked at an example EA for two MA EA. Within two minutes, I was lost, mind fogged ready to break something.

This is just me venting, wondering if anyone else is coming unglued like me.

I WILL learn this mess of a new version if its the last thing I do, but Metaquotes and the designer of MQL5 should have thought about how many people they will be driving away with this new version.

Once learned, I understand how powerful it will be, but powerful its not if you can't learn it.
  • #6
  • Nov 29, 2010 10:31am Nov 29, 2010 10:31am
Quoting ffjbentz
[rant]
lol.
  • #7
  • Nov 29, 2010 1:52pm Nov 29, 2010 1:52pm
ffjbentz, I agree that learning Object Oriented concepts as well as MQL5 is very challenging. I did find several things I liked about MQ5. The reference PDF was easy to master and the auto completion feature saved a lot of lookups and typing. But I think the feature that will make MQL5 a winner is the debugger. With it you have a chance to do thorough testing without becoming thoroughly pissed off like in MQL4.

What do you think about the chances of automating the conversion of MQ4 to MQ5?
  • #8
  • Nov 30, 2010 12:29pm Nov 30, 2010 12:29pm
I thought there was already a conversion utility for converting MQL4 indicators/EAs to MQL5. But I heard it only does it half right, and you still have to go through and correct mistakes. Like when VB changed to VB.net. Same issue. So, if you don't know MQL5, then you're out of luck because you won't even be able to make the necessary corrections to the converted file.
  • #9
  • Nov 30, 2010 2:43pm Nov 30, 2010 2:43pm
But there seems to a hardcore of people out there that believe otherwise. They are sure that the script will produce error free code and that if it doesn't somebody will put together such a script.
  • #10
  • Dec 1, 2010 1:10am Dec 1, 2010 1:10am
Well, it would be nice if its true, but that really depends on someone fully understanding both. Since I can't get my brain wrapped around MQL5 yet, I have no clue what to do. Ask me again in a year, I'll might be able to help!

Does anyone know how long brokers will continue allowing trades in MT4?
  • #11
  • Dec 6, 2010 8:13pm Dec 6, 2010 8:13pm
Hi FrinkFX,

Sorry to disappoint you, Mt5 backtest is useless. Don't belieave me, run yr test scalping ea on demo fwd and compare with the backtest result.

Well my point to every one, No mt shit, mt4 is used to fuked up trader, and mt5 is even worse.

Who is mtquotes 's customers ( main income) , you traders or brokers ? So what features will they make on brokers admin to cheat you ? so i hope you can see what they shitty features they will add to mt5 for brokers to steal you traders' money

Quoting FrinkFX
I just downloaded a MQL5 demo platform today and wrote a little EA. I notice there's no more history data and it [Apari UK] downloads the data for the backtest automatically. (This is definately welcome)

Anybody here got any more experience of MT5? It doesn't seem to be widely adopted yet but I'd say it will as MT4 is old and buggy. Also, for this backtest I'm using the default MT5 EURUSD tick data. Anybody know how good this data is? There seems to be 10-20 ticks per minute. Is this the exact same data as the live prices or is it doctored or stripped-down...
  • #12
  • Dec 7, 2010 7:04am Dec 7, 2010 7:04am
Quoting yster
Who is mtquotes 's customers ( main income) , you traders or brokers ? So what features will they make on brokers admin to cheat you ?
Can you name a few such new "features" or are you just trolling?

Without being able to explicitly name them your above posting is not more than just some vague and unfounded allegations and your entire posting has not much more weight than a medium sized heap of BS.
  • #13
  • Dec 7, 2010 8:57am Dec 7, 2010 8:57am
Quoting 7bit
Can you name a few such new "features" or are you just trolling?

Without being able to explicitly name them your above posting is not more than just some vague and unfounded allegations and your entire posting has not much more weight than a medium sized heap of BS.
agreed.

i'm still waiting on the proof. i don't doubt that bullshit CAN be pulled, i'm just waiting for someone to prove that IT DOES get pulled.

that's my 2c on the "mt4/5 is teh theef lolwtfbbq" talk. now my extra 2c on the mql arguments... i haven't seen mt5 yet, but the posts here alone are enough to convince me that it IS an upgrade in the right areas.

it is unfortunate that many people consider themselves programmers just because they can write a little script that does some basic math. it's the same mentality of people that go to some form of martial arts gym once a week and call themselves martial artists (lol, or worse, 'fighters'). it's swimming in the kiddy pool while calling yourself an athlete.

i've done a lot of real programming, but as a hobby and for my own interests and requirements. i don't consider myself a programmer though. i know a lot of stuff and have years of hobby programming experience, but i'm in the kiddy pool compared to real programmers who do it as their bread and butter.

if the scripting in mt5 has migrated towards c++ and is much more difficult to pick up and run with then it is simply going to leave a LOT of people behind. that's the price of progress. you either step up your game or you roll over and die. this in a way is a good thing as there will be a dramatic drop in "i have this indicator and i need it to add 3 to the 5th last candle. please make it for me" noobness. it'll be too hard for them to get any type of grasp on and so they will be naturally culled. the problem on the flipside is the elite will still be bombarded by the average who haven't been culled. sux to be great, not that i will ever have that problem, lol.

/rant
Congratulations ScalaFX for coming out of the closet!
  • #14
  • Dec 8, 2010 2:55am Dec 8, 2010 2:55am
Quoting nubcake
agreed.
...it is unfortunate that many people consider themselves programmers just because they can write a little script that does some basic math... please make it for me" noobness. it'll be too hard for them to get any type of grasp on and so they will be naturally culled. the problem on the flipside is the elite will still be bombarded by the average who haven't been culled. sux to be great, not that i will ever have that problem, lol.

/rant
Wow, you're really angry aren't you. Maybe a little self-righteous as well. So you never had anyone help you learn what you know? Certainly, you didn't learn compassion.

Well, I always stick up for the underdog... which of course, is me. Yeah, I can "write a little script" but thats about it. But its fun, passes they time and gives me a chance to see if I can make a few bucks. For sure, I'm not a "real" programmer, or I wouldn't have even mentioned the difficulty of MQL5. But, Forex is out there for whoever wants to give it a try. No one said they had to be professional traders or programmers. And everyone's got to start somewhere. I can write a lot better code now than I could a year ago, because I used other peoples code that were better than me.
I will agree, however, it is a bit annoying when someone asks you to do everything for them instead of learning for themselves. Now that I know a little coding, I find it happens, but I try to be generous. I always get something in return anyway, even if its just learning how to do something I hadn't been able to do before.

I'm not sure of the motivation for the makeover of MQL5, but I have to guess there are a sizeable number of serious coders out there that will have no problem with MQL5, and the brokers will make tons more money from that than all the "newbys" losing their last $500, so economically, it makes sense. It just makes it difficult for us little guys to have fun with our otherwise boring possibly miserable lives.
  • #15
  • Dec 8, 2010 3:24am Dec 8, 2010 3:24am
Quoting ffjbentz
Wow, you're really angry aren't you....
lol, i'm not angry. the question is... are you paranoid? i would suggest that the reason the mql from mt4 has been killed is because, quite simply, it was wrong and broken and BAD. perhaps it was somewhat intuitive for newbies, but that's because they don't know anything.

i can only guess that it's mql in mt4 is like riding a gokart on the sidewalk versus in mt5 where it's more like driving a jeep on the highway.
Congratulations ScalaFX for coming out of the closet!
  • #16
  • Dec 9, 2010 2:12am Dec 9, 2010 2:12am
Quoting nubcake
lol, i'm not angry. the question is... are you paranoid? i would suggest that the reason the mql from mt4 has been killed is because, quite simply, it was wrong and broken and BAD. perhaps it was somewhat intuitive for newbies, but that's because they don't know anything.

i can only guess that it's mql in mt4 is like riding a gokart on the sidewalk versus in mt5 where it's more like driving a jeep on the highway.
I'm saving up for the jeep.
  • #17
  • Feb 21, 2011 4:35am Feb 21, 2011 4:35am
mt4 history data comes from metaqoutes.
what is the source for mt5 history data?
is more reliable?
  • #18
  • Mar 21, 2011 8:40pm Mar 21, 2011 8:40pm
For those who are very familiar with software and communications, is any mql5 EA you write visible or retrievable by someone within Metaquotes?

Wouldnt want to spend my time learning it, writing a good EA, and its just taken.

Any thoughts?

btw i heard it is expected to launch in June 2011
  • #19
  • Apr 6, 2011 11:26am Apr 6, 2011 11:26am
I've just tested MT5 and it's holy shit..It's much slower than MT4, no added value, C++ sucks, consume 100%CPU, 5times more memory..The same strategy backtested on MT4/MT5..MT4 much quicker results, you can use any data you want, easy readable code, etc. (It reminds me the story of MS and his .NET..:-). If you can, stay away from MT5. What is simple is good, everything else is just marketing..
  • #20
  • Apr 10, 2011 12:27am Apr 10, 2011 12:27am
Quoting JuliusS
I've just tested MT5 and it's holy shit..It's much slower than MT4, no added value, C++ sucks, consume 100%CPU, 5times more memory..The same strategy backtested on MT4/MT5..MT4 much quicker results, you can use any data you want, easy readable code, etc. (It reminds me the story of MS and his .NET..:-). If you can, stay away from MT5. What is simple is good, everything else is just marketing..
Ha, good to know. At least you figured it out enough to test it. It just paralyzes my brain when I look at it and haven't even gone back to it to try again.
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