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The 3 Most Important Tools You May be Missing in Mt4 Platform

  • Poll

  • plz choose the most 3 imortant options
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  • #1
  • First Post: Oct 27, 2013 12:09pm Oct 27, 2013 12:09pm

Personally, I think MT4 is a bit more than a moderate platform that can be enough for some trading strategies. I was thinking about ,

what are the most important tools or option that MetaQoutes could add in order to propose better platform.


I will add a poll in order to have detailed statics about traders priorities.

  • #2
  • Oct 27, 2013 12:28pm Oct 27, 2013 12:28pm
Custom indicators usable in MT4 mobile platforms. Currently no.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #3
  • Oct 27, 2013 1:03pm Oct 27, 2013 1:03pm
Quoting smart pivots
Personally, I think MT4 is a bit more than a moderate platform that can be enough for some trading strategies. I was thinking about , what are the most important tools or option that MetaQoutes could add in order to propose better platform. I will add a poll in order to have detailed statics about traders priorities.

Tick Charts - well first up the brokers do not send all the tick data to to the platform in the first place as they like to save on bandwidth so even if MT4 had it the tick charts would not match a proper tick chart, and even then MT$ does not and will not store ticks go back it is not built that way.

More TF options I agree with you

More Custom Indicators - what does that mean you can have as many custom indicators as you like?

Transparency can already be done using custom indicator function

Money and trade management options can already be done using an EA, even if they offered something more in this area, people would say but I wanted "this".... it's a very personal thing


Not being negative I just happen to think that apart from more time frames, you can already do it using the capabilities of MT4 or as with the Tick Charts it is just a no go anyway
  • #4
  • Oct 27, 2013 4:25pm Oct 27, 2013 4:25pm
Quoting MaxDoom
Not being negative I just happen to think that apart from more time frames, you can already do it using the capabilities of MT4 or as with the Tick Charts it is just a no go anyway
You can create your own timeframes from M1 data and offline charts . . .
20 pips a day isn't too much to ask . . .
  • #5
  • Oct 27, 2013 11:12pm Oct 27, 2013 11:12pm
Quoting MaxDoom
{quote} Tick Charts - well first up the brokers do not send all the tick data to to the platform in the first place as they like to save on bandwidth so even if MT4 had it the tick charts would not match a proper tick chart, and even then MT$ does not and will not store ticks go back it is not built that way. More TF options I agree with you More Custom Indicators - what does that mean you can have as many custom indicators as you like? Transparency can already be done using custom indicator function Money and trade management options can already...
-these days, trends are more and more being affected by tick analysis and you can see tick chart options in many trading platform. if Metaqouts wants to be in the race, then adding tick chart options is a must.
-I mean there could be some better options in custom indicators as default. i know we can add as many as we want, but some of them like Pivot,DPO,candle timer, more moving averages and .... can be there in the list. in MT5 this issue is almost removed and there are many default indicators.
-transparency plotting can not be done in mt4. there is no such option in mql4(plotting is not Fuzzy in mql4 ,you can plot=1 or you can not=0),if you mean watermark indicators, they also do the same just with light colors and
-yes we can add any MM EA or add any modifying script we want,but the problem is,we must use a VPS for running these codes or for the proper functioning . even with help of a VPS there are many unpredictable issues
for example you are opening 1 lot position in Point A and you want 30% of the volume be closed at B(case of win) or C(case of lose) the rest at D or F and you are a mid time trader. and maybe for days the trade is running, you can not trust any cheap VPS service for this, but this is very easy for Metaqoutes to add such option. someone could say we could open a 0.3 and 0.7 with different TP SL setting but for some trading styles these could take time.
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  • #6
  • Oct 27, 2013 11:26pm Oct 27, 2013 11:26pm
Quoting RaptorUK
{quote} You can create your own timeframes from M1 data and offline charts . . .
yes, we can do that, and for some strategies this solution is enough, but for some, the answer is not
lets consider this case:
you want to use a cluster indicator , something like CC or CCP, or any currency strength in 8H timeframe and suppose you are clustering your information from 20 symbols information in this timeframe, so you need 20*2 charts(20 H1 or H4 TF charts + 20 H8 offline chart) in your platform and definitely your meta will crash
this is not a big request from Metaqouts to have customize able TF in MT4 just like MT5 or maybe much better like adding an option for different time zones candles
  • #7
  • Oct 28, 2013 3:21am Oct 28, 2013 3:21am
Quoting smart pivots
{quote} yes, we can do that, and for some strategies this solution is enough, but for some, the answer is not lets consider this case: you want to use a cluster indicator , something like CC or CCP, or any currency strength in 8H timeframe and suppose you are clustering your information from 20 symbols information in this timeframe, so you need 20*2 charts(20 H1 or H4 TF charts + 20 H8 offline chart) in your platform and definitely your meta will crash this is not a big request from Metaqouts to have customize able TF in MT4 just like MT5 or maybe...
How would you do a H9 chart on MT5 ? you can't, but you can on MT4 . . . be careful what you wish for.

The logical way to do what you are describing would be to have the Indicator create the H8 timeframe internally and use that data in it's buffer calculations, meaning that offline charts would not be used with the Indicators at all.
20 pips a day isn't too much to ask . . .
  • #8
  • Oct 28, 2013 5:22am Oct 28, 2013 5:22am
Being able to view account history in pips.
  • #9
  • Oct 28, 2013 6:15am Oct 28, 2013 6:15am
To me mt4 lacks two profound features:
(1) direct accessibility of functionallity from outside (dll), instead you have to interface with script/ea, and
(2) asynchronous handling of orders in one and the same instrument
Return To Disorder
  • #10
  • Oct 28, 2013 8:29am Oct 28, 2013 8:29am
Quoting RaptorUK
{quote} How would you do a H9 chart on MT5 ? you can't, but you can on MT4 . . . be careful what you wish for. The logical way to do what you are describing would be to have the Indicator create the H8 timeframe internally and use that data in it's buffer calculations, meaning that offline charts would not be used with the Indicators at all.
i am not saying mt5 is better than mt4 or not.personally I like mql4 coding. it is easy and suitable for me
also i think adding all possible timeframe 's options is very easy as a default tool. why Metaqoute is not supporting customers while almost all other professional platforms have such primary options like tick charts and customize able timeframes.
  • #11
  • Edited 12:55pm Oct 28, 2013 8:32am | Edited 12:55pm
Quoting jen101
Being able to view account history in pips.
completely agree with you .although we can do it using scripts but this is a must for a professional platform
  • #12
  • Oct 29, 2013 4:09am Oct 29, 2013 4:09am
Quoting smart pivots
{quote} completely agree with you .although we can do it using scripts but this is a must for a professional platform
I disagree, professional traders don't give a damn about pips all the work is done in percentages.
  • #13
  • Oct 29, 2013 1:47pm Oct 29, 2013 1:47pm
Quoting smart pivots
{quote} completely agree with you .although we can do it using scripts but this is a must for a professional platform
I don't think MT4 was intended for professional traders and why would professinal traders use MT4?
  • #14
  • Last Post: Oct 29, 2013 5:59pm Oct 29, 2013 5:59pm
Quoting MaxDoom
{quote} I disagree, professional traders don't give a damn about pips all the work is done in percentages.
+1
20 pips a day isn't too much to ask . . .
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