MT4 or MT5, Which do you prefer? | Forex Factory

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MT4 or MT5, Which do you prefer?

  • Poll

  • MT4 or MT5 What do you prefer ?
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  • #1
  • First Post: Edited Jan 9, 2017 12:41pm Jan 7, 2017 4:54am | Edited Jan 9, 2017 12:41pm
MT4 or MT5 ? Which one do you like best ?
  • #2
  • Jan 9, 2017 3:58am Jan 9, 2017 3:58am
Poll Standing as of Jan 9
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  • #3
  • Jan 25, 2017 8:33pm Jan 25, 2017 8:33pm
Most trading platforms, brokers and traders are still using MT4.

It will take them some time (years?) to learn MT5 and upgrade their system.

It's like Windows, the latest version is 10 and yet most people are still using Windows 7...or even Windows XP.
  • #4
  • Jan 26, 2017 12:15am Jan 26, 2017 12:15am
Quoting Mr Breakout
Most trading platforms, brokers and traders are still using MT4. It will take them some time (years?) to learn MT5 and upgrade their system. It's like Windows, the latest version is 10 and yet most people are still using Windows 7...or even Windows XP.
Good example.

I prefer MT4.
Risk comes from not knowing what you're doing.
  • #5
  • Jan 26, 2017 12:17am Jan 26, 2017 12:17am
Traders will use mt5 if they make mt5 look and feel exactly like mt4.i don't use indicators/expert advisers and still prefer to use mt4.i don't like the new mt5 gui.
  • #6
  • Jan 26, 2017 1:23am Jan 26, 2017 1:23am
MT5 of course. More possibilities..
Return To Disorder
  • #7
  • Jan 26, 2017 1:32am Jan 26, 2017 1:32am
You cant compare mt4 and mt5 like windows 7 or windows 10.

They are allmost same shit with different colour wrapped, user interface.

mt5 your programming lang is tottally different, you have different time frames etc...
and that lang suck if thinking how fast you can code. ea's. or indies.
if you wrote program in win7, in 98% cases it will work windows 10
that wont happen in mt5

mt4 never designed, what traders wanted it, and now mt5 is designed by 10 years old c++ or java nerd, who thinks wc toilet seat should be operated by c++ language before you can use it.

would be very easy if mt5 keeps most of mt4 language features, and syntax. but metaquotes bright minds dont understand.
its cheaper make mql5 syntax similar mql4, because there are trillion ea's and indicators which have to rewrite.
and that is not cheap. even using far east low wage coders.
  • #8
  • Jan 26, 2017 3:24am Jan 26, 2017 3:24am
Quoting kk100
mt5 your programming lang is tottally different
Not true. Mql4 has been changed since build 600 and now is the same as Mql5, a subset of C++. Do not confuse language with implemented functionality (functions).
It is true that MQ almost left the possibility to code for mt4 in the old way, but one should not do that, for it complicates migration.
So, the real problem is anachronism, disinformation, that scares noobs away from progressing.
However, we all cannot be captives of the anachronism of few. Remember that is is people like you who made a shitty tech company big, now suffer well from their policy. Let the world move on. Technology must progress, and those who do not adapt will be left behind.
If you want your stuff to be immutable, then you have to take things out of of metatrader and implement your own user interface or use spreadsheets (office) that will communicate with what ever metatrader there is, and otherwise keep things to itself.
Return To Disorder
  • #9
  • Jan 26, 2017 4:21am Jan 26, 2017 4:21am
My personal opinion is that the MQ must create backward compatibility, so mq4 indicators or EAs to work on MT5 without re-coding them. Then the upgrade what be too easy and i think almost all traders will adopt the new platform.
  • #10
  • Edited 5:49am Jan 26, 2017 5:17am | Edited 5:49am
Quoting rockit
{quote} Not true. Mql4 has been changed since build 600 and now is the same as Mql5, a subset of C++. Do not confuse language with implemented functionality (functions). It is true that MQ almost left the possibility to code for mt4 in the old way, but one should not do that, for it complicates migration. So, the real problem is anachronism, disinformation, that scares noobs away from progressing. However, we all cannot be captives of the anachronism of few. Remember that is is people like you who made a shitty tech company big, now suffer well...
Look the syntax, its not same at all.

I dont mind if the syntax would be more similar, MT5 have good features, but the price for community will be huge
heh, a new development not guarantee better systems or applications.

hahaha me using mt4 and reason for growing m-quotes big., i have been using bloomberg,reuters,tradestation,telerate,sierra,ninjatrader,cqg,jtrader before your have no clue of these systems.

as i can see your occupation, you are programmer, every ten year old can be program, that's not a big deal, but developing and be architect of real time system user base more than 1mio, need much wider and open mind and thinking other issues too.


here is the link for migration, and that's not include trade functions/methods or other code syntax.
https://www.mql5.com/en/articles/81
  • #11
  • Jan 26, 2017 5:38am Jan 26, 2017 5:38am
Shame to hear Metatrader stopped development on MT4, most people are so used to this as it is so flexible.
  • #12
  • Jan 26, 2017 6:40am Jan 26, 2017 6:40am
Quoting kk100
{quote} Look the syntax, its not same at all. I dont mind if the syntax would be more similar, MT5 have good features, but the price for community will be huge heh, a new development not guarantee better systems or applications. hahaha me using mt4 and reason for growing m-quotes big., i have been using bloomberg,reuters,tradestation,telerate,sierra,ninjatrader,cqg,jtrader before your have no clue of these systems. as i can see your occupation, you are programmer, every ten year old can be program, that's not a big deal, but developing and...
Then you have less 10 years old...
Try don't lose pants never...
  • #13
  • Jan 26, 2017 10:39am Jan 26, 2017 10:39am
IMHO, MT4 is not great. But it serves its purpose, in the sense that it allows me to make money as a trader (when my decision making is good enough!)
As a programmer, I have -- over time -- developed code libraries and samples that allow me to write EAs and indicators fairly quickly.

Back in 2006, my first FX account was with a br0ker named WSD, who used MT3. MT3 soon got discontinued. MT4 build 509 is now unusable. At some point -- whether sooner or later, but as MetaQuotes' dictate -- the data feed for MT4 will likewise be turned off, and traders like me will be forced to move to MT5, or switch to another product like cTrader. Either way, indicators and EAs will have to be rewritten, which for me is a considerable nuisance. These days I want to focus on improving my trading, not wasting time re-coding everything. As a programmer, I fully understand the need to periodically modernize languages and tools, but the whole point of a charting/trading platform is to allow you to trade!

I might end up paying a programmer to help me with the re-coding. Each of the 3 main EAs that I use comprise several hundred lines of code, and I also have maybe 15 essential indicators, all of which call functions from a moderately large code library. Hence, when you also factor in re-testing everything thoroughly -- I can't afford to have bugs costing me money on a live account -- it's not going to be a trivial job.

I haven't even looked at MT5 yet. From what I've read it's less than impressive, in terms of functionality, but I'll wait and form my own opinion. My expectation is that, most of the time, you get what you pay for, and MetaTrader is free. Having said that, I trialled eSignal ($250/month plus data feed costs, if I recall correctly) for a short while. It had some great features platform-wise, but the data feed froze occasionally, making it unusable.
  • #14
  • Jan 27, 2017 11:55am Jan 27, 2017 11:55am
Quote
hanover

I would like to hear your opinion about ctrader and calgo in general, also have you ever thought of creating your own chart platform (Java or Python or C# or C++)?
  • #15
  • Jan 27, 2017 12:33pm Jan 27, 2017 12:33pm
Quoting Alex798
Shame to hear Metatrader stopped development on MT4, most people are so used to this as it is so flexible.
older times was always better - yesterday i was in profit.
its time to leave the MT4 crap
The biggest drawdown is ahead of you
  • #16
  • Jan 27, 2017 12:35pm Jan 27, 2017 12:35pm
Quoting amando77
{quote} older times was always better - yesterday i was in profit. its time to leave the MT4 crap
You are right but what is next MT5 or something else?
  • #17
  • Jan 27, 2017 3:25pm Jan 27, 2017 3:25pm
Quoting stoxos
I would like to hear your opinion about ctrader and calgo in general, also have you ever thought of creating your own chart platform (Java or Python or C# or C++)?
Sorry, I haven't used cTrader/cAlgo...... at least, not yet.

About 15 years ago I was trading stock/index CFDs, I wrote a simple charting platform, but it was highly specialized to suit my own needs. It plotted several different types of graphs showing the relationships between industrial sectors on the London FTSE; and also daily candles and a number of indicators, but the data had to be loaded manually each day from CSV files downloaded from a paid-for source. Probably had something like about 1%-2% of MT4's charting functionality, and all up it took 3-4 months work. Nowadays, I don't see any point in re-inventing the wheel. To whatever extent MT5 fails to gain traction, there will be a business opportunity (i.e. a free charting/trading platform to attract the newbie masses) that other software entrepreneurs will no doubt exploit.

And I'm trying to focus more on trading and less on programming. I'm getting old, I also have other business interests apart from forex, and there are only 24 hours in each day.
  • #18
  • Jan 27, 2017 4:24pm Jan 27, 2017 4:24pm
Quoting kk100
Mt5 has been designed by a 10 years old c++ or java nerd, who thinks WC toilet seat should be operated by c++ language before you can use it.
Hahahaha
  • #19
  • Jan 30, 2017 6:23pm Jan 30, 2017 6:23pm
With no way to import historical data other than what the broker provides, MT5 still looks like a complete waste of time. Maybe, now they've stopped messing around with MT4, they'll finally sort out MT5.
  • #20
  • Jan 31, 2017 1:16pm Jan 31, 2017 1:16pm
I've got to give this one to MT5. While it's not perfect, they have implemented a pretty decent standard library which speeds up development time and the back-tester is a dream compared to MT4. With the ability to use distributed computing, I can now run tens-of-thousands of concurrent back-tests to complete optimizations in mere minutes compared to weeks in MT4.

On the platform side of things, the charting objects are much nicer. For example the fib handles will now resolve to lower time-frames, which was always a pain to drill down TF and have to readjust the handles.
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