Trading platform MT4 and MT5: similarities and differences
Products MetaTrader 4 and MetaTrader 5 from the company MetaQuotes Software Corporation is a recognized leader among trading platforms. The fifth version of the terminal present on the market since 2010. During this time it has evolved and been refined. Platform MT4 brokers in the range first appeared in July 2005. Currently, both software products exist independently of each other. What distinguishes the fifth version of the MetaTrader terminal of the fourth?
In terms of design MT5 it is very similar to his older brother. Workspace in the MetaTrader 5 terminal is divided into the same logical blocks as the MT4: market overview, navigation, trade and the financial instrument window schedule.
The changes affected only the design of some buttons. The context menu items are added, with which you can change the appearance of the chart with a candle on a linear or bars and vice versa. The uninitiated man a cursory glance can hardly distinguish from the MetaTrader 5 MetaTrader 4. Visually difference subtle.
Working MT4 terminal window looks like this:
The design of the fifth MetaTrader:
MT4 trading platform has 9 standard timeframes: M1, M5, M15, M30, H1, H4, D1, W1 and MN. The range of time periods in MT5 terminal is considerably expanded. In addition to the options presented in MetaTrader 4, the fifth version of the product in the following timeframes added: M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, H12.
The MT4 platform, you must use a special script to display non-standard timeframes on the chart. The MT5 set up enough of them at the top of the control panel:
Until recently, the MT5 platform was not the function of locking orders. Deal, open in the opposite direction of the main order, closed part of the open positions. In the course of the fifth version of the terminal upgrade the platform in April 2016 changes have been made, and hedging become available, as in the previous version of MetaTrader.
The ability to open an account without the function of locking (netting system orders) with a broker in the range of which is represented by MT5 , remained.
After a series of updates on MT5 platform became visible transactions open on the same financial instrument at different prices at different times. Previously, every new order is summed with the previous one. The terminal was displayed averaged value. Currently, this function works the same in the fourth, and the fifth version.
The latest version of MetaTrader appeared to drag the stop-loss and take-profit one mouse movement. This function works as in normal mode, and the mode of One Click Trading. The only difference is that in the first case, the price levels of stop-loss and take-profit does not change immediately, but after a trader steps. The button must be pressed opened window “Change” for the changes to take effect.
The terminal MT4 is a function only works if the regime included One Click Trading. Price at the same time changes instantly. In normal mode, the trading platform the trader need to do a long way to modify the order. Management transactions when using the “Trafficking in one click” done the same in MT4 terminal, and the terminal MT5. The latest version of the platform in the unit “Market Overview” tab will appear for quick access to the panel One Click Trading:
The range of financial instruments and glass prices:
The trading platform MT5 range of financial instruments is much wider than in the terminal MetaTrader 4. available not only currency pairs and metals, but also futures, indices for trade. The fifth version of the product adapted to any exchange instruments as opposed to the fourth, which is calculated solely on the Forex.
The MetaTrader 5 terminal in glass prices have the opportunity to see not only the prices of open positions, but their volumes:
MT4 more functional trimmed. The fourth version of the MetaTrader in the glass can be seen only the price at which traders carry out transactions
The MT5 terminal function improved report generation. The new version is possible to save the document in the Open XML format, which can be opened by means of Microsoft Excel. It is convenient for trade analysis.
The fourth version of the platform report unloading standard means there is only htm / html format. To convert the data to Microsoft Excel, you must use a third-party script. The MT5 is to make it easier, faster and more convenient. Russification of the report facilitates the understanding of the information contained herein for traders who do not speak English:
In the software product of the fifth version significantly expanded technical analysis capabilities. Updated standard lines list, icons, Fibonacci figures. Added new graphics. Traders using the wave analysis, were able to put on the chart Elliott Wave a few mouse clicks, which in the previous version of MetaTrader not observed.
It increased the number of built-in indicators. Making them easier to find and install. To set the indicator in MT4 trading terminal, you need to download it and place it in the appropriate folder. After performing these steps, you need to restart the program.
The fifth generation of the trading platform to gain access to the free base of trading robots and indicators can be directly from the terminal. To do this, refer to the CodeBase library by pressing the F2 key or by opening the appropriate tab in the “Tools” of the terminal block. To indicator appears in the corresponding folder of the root directory, you must select an object in the library catalog and download it via the context menu, after calling it the right mouse button.
In the lower part of the terminal, two new tabs are absent in version MT4. With the help of the page “Company” trader can get directly from the terminal to your personal account on the broker’s website. Tab “Economic Calendar” allows you to monitor the output of important fundamental data without resorting to third-party sites. Furthermore, all information is duplicated in the form of a flag with the time in the operating window on the chart of the currency pair. Trading platform is the fourth version of this functionality is not.
The new version of the strategy tester terminal has become a multi-currency. Trading Robots can be tested in several financial instruments. It is necessary that all the currency pairs are available in the platform section titled “Market Overview” and their schedules open. This is due to another difference between the two versions. The MT5 quotes history is stored only for a minute timeframe. Candles for the other time periods are calculated on the basis of it. The new version of the terminal the opportunity to test in the real ticks.
Report on the results for the fifth MetaTrader contains more parameters than the previous version. Added graphics, allows you to visualize the basic statistics. Here is a sample report bektestu advisor PersistentAnti :
Multiple processors can be used to speed up the testing strategies. It is also possible for the money to rent the power of your PC. In the previous version such features are absent terminal.
Software for trading platforms MetaTrader 4 and MetaTrader 5 written in different programming languages. In the first case, a MQL4. To use MT5 terminal MQL5 language. Because of these differences, the indicators and automated trading systems written for the fourth version of MetaTrader, do not work in the MetaTrader 5 and vice versa.
The MT5 platform an opportunity to create simple advisers on the basis of the library, which is built into the terminal. A functional process is provided via the menu item “Master MQL5».
Using the platform traders and brokers
Before the introduction of hedging orders accounting system MT5 trading platform are not in great demand among brokers and traders. After the April update terminal representatives of brokerage companies noted a significant increase in customer accounts on MT5. Analysts suggest the gradual displacement of the fourth MetaTrader fifth of the market. Currently, open a real trading account on MT5 platform can be in the following companies: Exness , RoboForex , of InstaForex , of LiteForex and others .
The stock market has also seen the growth of loyalty to the latest version of the MetaQuotes product. Only in 2015 the number of stock brokers, to include in its list of platforms MT5 terminal has increased by 15 units. The trend indicates a further increase in popularity of the product among brokers, as well as among their clients. Currently the leader of the laurels belong to the MT4 terminal, as most indicators and trading robots are written just for him.
MetaTrader 5 Trading Platform has absorbed favorite traders quality of the previous version. Implementation of hedging accounts allowed developers to expand the client terminal audience and increase its popularity among traders in the Forex market. The current configuration of the fifth version of the platform in functionality and usability superior to MetaTrader fourth generation.
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