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MetaQuotes "This is the last MT4 upgrade"

  • #281
  • Jan 5, 2017 6:53am Jan 5, 2017 6:53am
Quoting Mingary
{quote} MQL5 code is rather easy to work with, and the new platform cannot possibly be worse that MT4... Concerning rewrite / converting from mq4 to mq5 out of the thousands of indicators and EAs that have been written in mq4 only a tiny tiny number of them (I am being generous) are of any value.
Honestly don't exists good or bad indicators. Only good or bad traders. You have people can be profitable with a naked charts. And you have it can be profitable with charts like Christmas tree. Really it's more a psychology thing as how tools change your perception about how much control you have trading...
Try don't lose pants never...
  • #282
  • Jan 5, 2017 11:28am Jan 5, 2017 11:28am
Quoting braintheboss
Honestly don't exists good or bad indicators. Only good or bad traders. You have people can be profitable with a naked charts. And you have it can be profitable with charts like Christmas tree. Really it's more a psychology thing as how tools change your perception about how much control you have trading...
Agreed. Indicators don't have to be signal generators. Instead, they can form a roadmap that forms a lens through which a trader focuses his study of price. Or they can objectively highlight significant phenomena that would not otherwise be obvious from a naked chart.

And there are also indicators that display 'peripheral' info like news events, session start/end times, current times in different cities, previous key price levels, candles from other TFs, daily range stats, etc etc ..... whatever the trader finds useful.
  • #283
  • Jan 6, 2017 5:28am Jan 6, 2017 5:28am
Quoting AiWoZhongHua
{quote} I'm affraid not. If it were so easy to know the value of an indicator, this skimming process would have already begun under MT4. That's not the good indicator that stays in the business, that's the good trader and the hooked loser.
I'm not agree 100%. For sure it takes a good trader to make profit out of naked charts or indicator loaded charts. But when you look around here how many indicators are invented 3,4,5 times. How many rubbish MA cross stuff under trillion of names comes out only that a losser can be a guru for a short time and hundreds of lemmings follow them until he goes broke and the next guru lurks around the corner. Those silly shit will hopefully not converted and dry out. Nothing more nothing less.
And if I read stuff like I need a decompiler for this or that I can throw up all the time. If I understand my trading and/or work I can be profitable regardless of the tools. But those relying on the holy grail indicators and not respecting the IP and work of others. And I'm happy that those bunch of guys has to start from zero. I'm willing to help who is willing to help also but I hate those collectors, leechers with the mentality only to take without giving.
  • #284
  • Jan 6, 2017 7:16am Jan 6, 2017 7:16am
Quoting Mingary
{quote} MQL5 code is rather easy to work with, and the new platform cannot possibly be worse that MT4... Concerning rewrite / converting from mq4 to mq5 out of the thousands of indicators and EAs that have been written in mq4 only a tiny tiny number of them (I am being generous) are of any value.
Oh yes, It's worse! Not only that, but there is nothing new or innovative in mt5. It's the same base source code from 2004. (like mt4) only with tons of bugs in it.

Sure, coding with mql5 is easy...but it's not easier than mql4.
Many of the functions are more complicated, you have to write more code, not mention the way you have to call the indicators... it sucks......
I already converted a few of my EA's and indicators to mql5 for testing purposes, and so far I'm very disappointed. MT5 is slower, uses more CPU, and things just doesn't run as smoothly as they do in MT4.
Already found at least 15 different bugs in MT5. Bugs with graphical objects, several functions not working correctly, bugs in user interface, bugs in the tester, again some functions not working.....just terrible.

7 years after the initial release, and MT5 is still one buggy peace of garbage.
At the same time they want to ditch MT4..... so yeah.

Metaquotes must really get their shit together if they want to stay in business.
  • #285
  • Jan 6, 2017 7:52am Jan 6, 2017 7:52am
Quoting alphaomega
{quote} not mention the way you have to call the indicators... it sucks......
We already had the discussion about the iCustom calls within MT4. Using indicator handles is one of the better new features of MT5.
MT4 has also a lot of bugs in the graphical part (since i use a own base for full colored i have seen most of them for sure) so MT5 will there not worse.

Can you proof that MT5 is slower as MT4 for the same parts?

Even when MT5 is as worse as MT4, the possibility to use ticks gives MT5 an edge over MT4. And even the traders, that are whining here must admit that this a hughe advantage. Sure not all tick informations are available for any instrument but much more information you ever get from MT4.

We will see how many traders and developers are migrating to MT5 or alternatives. I bet the 1500 bucks for ninjatrader + monthly subscription for data feeds will be way to much for most of the MT4 users. But this i want all for free mentality here will lead 99% of them to the "shitty" and free MT5.
  • #286
  • Jan 6, 2017 8:52am Jan 6, 2017 8:52am
Quoting alphaomega
{quote} Oh yes, It's worse! Not only that, but there is nothing new or innovative in mt5. It's the same base source code from 2004. (like mt4) only with tons of bugs in it. Sure, coding with mql5 is easy...but it's not easier than mql4. Many of the functions are more complicated, you have to write more code, not mention the way you have to call the indicators... it sucks...... I already converted a few of my EA's and indicators to mql5 for testing purposes, and so far I'm very disappointed. MT5 is slower, uses more CPU, and things...
of all the comments in here , this guy is one of the few people who knows what he's talking about

just look at how many people liked his post versus all the rest
  • #287
  • Jan 6, 2017 9:16am Jan 6, 2017 9:16am
Quoting alphaomega
{quote} Oh yes, It's worse! Not only that, but there is nothing new or innovative in mt5. It's the same base source code from 2004. (like mt4) only with tons of bugs in it. Sure, coding with mql5 is easy...but it's not easier than mql4. Many of the functions are more complicated, you have to write more code, not mention the way you have to call the indicators... it sucks...... I already converted a few of my EA's and indicators to mql5 for testing purposes, and so far I'm very disappointed. MT5 is slower, uses more CPU, and things...
MT software always is buggy. If you survived 12 years to MT4 bugs you can survive others 12 years to MT5 bugs...
Try don't lose pants never...
  • #288
  • Jan 6, 2017 9:45am Jan 6, 2017 9:45am
voice of the truth
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  • #289
  • Jan 6, 2017 9:51am Jan 6, 2017 9:51am
Quoting MXT
{quote} of all the comments in here , this guy is one of the few people who knows what he's talking about just look at how many people liked his post versus all the rest
100% . One of few relevant to OP's original topic. Rest preaching how to trade and emphasis indicators, how shitty indicators are and worthless to use. Why don't they realize we can't make trader like this way, trading isn't herbal tree leaves and traders never born chewing such tree leafs. If they feel Mt4 useless its okay, for some people I see Forex trading useless also , Okay then why they waste their time in a topic where they can add no value to topic !
Never Gamble Forex
  • #290
  • Jan 6, 2017 11:29am Jan 6, 2017 11:29am
Quoting MXT
{quote} of all the comments in here , this guy is one of the few people who knows what he's talking about just look at how many people liked his post versus all the rest
Is he? I don't see any proof of it. Where is MT5 slower and need more resources? Where is the proof that both using the same codebase? Does he have access to the original sourcecode of both? I can make any assertion here without proof. And that most of the traders, who dislike MT5 are liking his post who is wondering about that. When I will say taxes are rubbish, how many likes do I get?
  • #291
  • Jan 6, 2017 12:50pm Jan 6, 2017 12:50pm
Quoting alphaomega
{quote} Oh yes, It's worse! Not only that, but there is nothing new or innovative in mt5. It's the same base source code from 2004. (like mt4) only with tons of bugs in it. Sure, coding with mql5 is easy...but it's not easier than mql4. Many of the functions are more complicated, you have to write more code, not mention the way you have to call the indicators... it sucks...... I already converted a few of my EA's and indicators to mql5 for testing purposes, and so far I'm very disappointed. MT5 is slower, uses more CPU, and things...
Thanks
  • #292
  • Edited 5:16pm Jan 6, 2017 1:34pm | Edited 5:16pm
Quoting alphaomega
{quote} Already found at least 15 different bugs in MT5. Bugs with graphical objects, several functions not working correctly, bugs in user interface, bugs in the tester, again some functions not working.....just terrible. 7 years after the initial release, and MT5 is still one buggy peace of garbage. At the same time they want to ditch MT4..... so yeah. Metaquotes must really get their shit together if they want to stay in business.
Hmm...so what software doesn't have bugs? Certainly not any flavour of Unix I've used and not even Windows10 which is an excellent product despite the bugs. Angry Birds have a very mixed track record with regard to bugs and performance. The only software I can recall using that didn't have obvious bugs was the Oracle DBMS but it was a hog performance.

Software companies seem to do quite well despite their buggy code. A Ethereum client recently lost $50 million to hackers due to their crappy coding but that is the only instance I can recall of bugs dooming a company. There may have been some others that went under, but I can't recall any off the top of my head.

EDIT
Short of someone finding an exploit to drain trading accounts, Metaquotes has little to worry about as a threat to their continued success in the future.
  • #293
  • Jan 10, 2017 9:50am Jan 10, 2017 9:50am
Metaquotes is increasing the pressure on brokers to adopt MT5. I am sure that saving $900,000 per year will appeal to a lot of brokers.

https://smnweekly.com/2016/12/22/met...to-promote-mt5

Quote
The news comes only days after MetaQuotes told its clients it is also raising the monthly support fees for MT4. At the same time, the support prices for MT5 are remaining the same and the number or brokers offering the newer trading platform has already surpassed 100.
Calculations of the Finance Magnates show that currently the MT4 license costs USD 100 000, while that for MT5 stands at USD 25 000.
  • #294
  • Jan 10, 2017 11:12am Jan 10, 2017 11:12am
Quoting CodeMeister
Metaquotes is increasing the pressure on brokers to adopt MT5. I am sure that saving $900,000 per year will appeal to a lot of brokers. https://smnweekly.com/2016/12/22/met...to-promote-mt5 {quote}
This is old news.....anyway..
MT5 was garbage from day one, it is garbage today, and I don't think this is ever going to change! So many bugs have been reported, and for years nothing gets fixed.
It seems that nobody cares.... and their CEO is totally asleep at the wheel....

MT4 also is garbage, but at least works relatively stable, and most of the bugs are cleared. Plus the language is easy to work with.

And honestly, the whole concept with mt5 as a separate platform is just plain wrong and makes no sense.
The people who run this company probably lost their minds after the spectacular success of MT4.

Instead of focusing on the core product by just updating it and making it better, and better, and by adding new features, instead, they decided to try to conquer the whole retail market for all services.
So they spend all of their resources on the external things like VPS, the market for apps, the mobile apps, the web terminal...... all these useless web services.
They spend 7 years developing all this crap, while their core product is just sitting there almost unusable.
As a result, now MT5 is already old and obsolete concept.

And the main problem,
They want to offer platform for exchange traded products, unfortunately they have no idea what they're doing!
They don't even know how to make proper ladder interface, with usable DOM.(what they did in mt5 is a parody)
Or how about some proper level 2 window for stock trading?
How about detachable charts with links or modular structure of the whole platform?
How about some proper range bar charts, volume based charts, real renko, full screen tick charts???
Nothing. They did nothing.
Not even the most basic stuff which can be found in every professional platform.

Best thing would be to just throw MT5 in the garbage bin, and to start new project for MT6. Oh, and better hire some specialists(traders) who know and understand the needs of the professional traders.
I'm sure their programmers can code everything, but they need someone to guide them. Someone to create the design of the platform.
  • #295
  • Jan 10, 2017 11:20am Jan 10, 2017 11:20am
know somebody, how to add indicators into MT5 tester manually, like in MT4, instead of using templates? (indicators which are not used in tested EA)
and how to draw objects manually?
  • #296
  • Jan 11, 2017 11:44pm Jan 11, 2017 11:44pm
Quoting alphaomega
{quote} This is old news.....anyway.. MT5 was garbage from day one, it is garbage today, and I don't think this is ever going to change! So many bugs have been reported, and for years nothing gets fixed. It seems that nobody cares.... and their CEO is totally asleep at the wheel.... MT4 also is garbage, but at least works relatively stable, and most of the bugs are cleared. Plus the language is easy to work with. And honestly, the whole concept with mt5 as a separate platform is just plain wrong and makes no sense. The people who run this company...

% what he said. Very Nice said.
Never Gamble Forex
  • #297
  • Jan 13, 2017 2:45pm Jan 13, 2017 2:45pm
Never be it for me to not have an opinion. But on this one, I can't resist.

  1. Metaquotes doesn't care what any of us think. We're not their customers. Brokers are. It's been that way for a while. Get used to it.
  2. They'll just keep raising the fees for MT4. Brokers will pay them. The reason, from what I hear from the rumor mill, is that the upgrade path for the back end to go from MT4 to MT5 is virtually non-existent. But, that's just what I hear from the rumor mill.
  3. In my opinion, I think a platform like cTrader might actually get some notice. Me, personally, I like a platform that's free AND supports a real programming language like C#. A platform that doesn't have a problem letting developers expand beyond it's own sandbox. But then again, that's just my opinion.

  • #298
  • Jan 13, 2017 9:31pm Jan 13, 2017 9:31pm
Quoting nondisclosure00
Never be it for me to not have an opinion. But on this one, I can't resist. Metaquotes doesn't care what any of us think. We're not their customers. Brokers are. It's been that way for a while. Get used to it. They'll just keep raising the fees for MT4. Brokers will pay them. The reason, from what I hear from the rumor mill, is that the upgrade path for the back end to go from MT4 to MT5 is virtually non-existent. But, that's just what I hear from the rumor mill. In my opinion, I think a platform like cTrader might actually get some notice. Me,...
You are wrong ....

Metaquotes DOES care what the traders think!

Because If there is very low demand for a particular platform and too many dissatisfied traders, there is absolutely no reason for the brokers to invest money into that platform.
(as is the situation with mt5) So the developer will lose in the end!

Look what happened with the hedging feature! Too many traders have been complaining for some time, and in the end Metaquotes had no choice, so they added this feature to MT5. Now you can chose between hedging or netting mode......so it does matter what the traders say. In the end of the day, WE PAY for this software (with our trading costs) not the brokers!

As for cTrader......this platform is useless! I would rather use the buggy MT5.
cTrader is maybe ok for simple manual trading and some basic EA's, but that' s about it.
You cannot do anything else.

You cannot make any graphical interfaces or advanced indicators. There is not even access to objects..... properties....nothing. Not to mention how heavy and slow this platform is.

Better alternative to MT is ProTrader...but for some reason the brokers do not offer this platform. (not enough demand from the traders)
But in reality there is no true good alternative to MT, and this is the problem! Metaquotes have no real competition right now.
  • #299
  • Jan 13, 2017 10:05pm Jan 13, 2017 10:05pm
Quoting alphaomega
{quote} You are wrong .... Metaquotes DOES care what the traders think! Because If there is very low demand for a particular platform and too many dissatisfied traders, there is absolutely no reason for the brokers to invest money into that platform. (as is the situation with mt5) So the developer will lose in the end! Look what happened with the hedging feature! Too many traders have been complaining for some time, and in the end Metaquotes had no choice, so they added this feature to MT5. Now you can chose between hedging or netting mode......so...
cTrader was just an example of a platform that uses C#. There are most likely others that are FAR better.
As far as Metatrader actually listening to the traders; you're wrong. The don't. They wait until they hear from the brokers (who get the brunt of the complaints from the users). THAT's when they make changes. Sorry to break it to you.
  • #300
  • Jan 13, 2017 11:21pm Jan 13, 2017 11:21pm
Quoting avibe
too much work re-writing code mt4 and mt5 can co-exist seriously no need to kill off mt4
Either MT4 is a resource hogger or it's just not compatible with some of the new systems anymore considering it's a 12-year legacy program and all. I know those are the top 2 reasons why a lot of old programs designed in the back old days retire.

But then again MT5 has been around almost as long as MT4 has so it really beats me why metaquote is letting one program stay and is canning the other one. And what perplexes me even more is that the two programs are almost duplicate of each other so WHY having both of them running at the same time when they could've retired one long time ago instead of letting people build up such a crap load of EA, custom indicators, and etc. and now it's going to take people even more time to recode everything into MT5. My guess is they've milked as much as possible from MT4 and now MT4 is really starting to become a drag and they have to kill it.

Everything is just $$$ to Metaquotes.
Make your losses in demo. Earn your profits live.
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