Amibroker vs mql5

I have been looking into mechanical systems recently and would like the opinion of some people who know. For back and forward testing of systems would you recommend I use Amibroker, some equivalent to Amibroker or mql5? I have started learning C++ and as I have some programming experience, albeit a long time ago, I am finding it fairly straightforward. This would lead me towards mql5 as I have heard it is based on C++ but would it be easier in the long term to use a different solution for programming and testing systems?

Also it would make life easier to be able to have the computer do the trading for me (with supervision of course). Is this an option with Amibroker or would I ultimately have to code an EA for mt5 anyway? The systems I am interested in are based on daily charts (think Donch channels) so I would just need to check the functioning of the EA on a nightly basis.

After a short trip via the recycle bin this thread has been allowed back for good behaviour. I wonder if anyone can help with my above query?

Hi Hugh,
Before giving my comments please realize that I ´m a complete programming nerd! Don`t know nothing about it and even that I`ve forgot. But I use Amibroker since almost 10 years and have survived.

Compared to learning AFL (the language) any C type language is overkill. AFL is ARRAY oriented, that gives short code. Just try to find a copy of TASC whre coding for a trading system (or indicator) is given for the different mainstream trading software packages: Amibroker`s is always shortest and most elegant - and readaable.

The advantage of using AFL instead of a C-type is because of trading related constructs being available.

The disadvantage of using AFL is its incompatibility (due to array) with other mainstream coding - be it mql, easylanguage, metastock or whatsoever. Everything has to be recoded. But there are lots of former MS, TS etc users.

For autotrading most use IB, an IB-API is now included within Amibroker. Formely I used a frontend for IB, which would execute signals from AB and control ordering process and max position sizes.

Some guys are using AB in connection with OANDA`s api --

Backtesting by AB using Oanda`s free 8 years of tickdata is a real pleasure.

Kind regards and thanks for your ongoing production of nice systems

Forex37

p.s. So for a nerd AFL is steep learning curve, for someone with some programming language (Excel wouldn`t be bad) its easy.

Some free afl coding examples:

wisestocktrader.com/indicators/1503-donchian-channels

Wise.../../51-alligator-trading-system

Wise../../555-atr-turtle-trading-system

That should give you an idea of the coding.

Regards


P.S. You might also look at wisestocktrader.NET for other free afl examples.

An outstanding answer, thank you very much for posting that.