What is the different beetwin Meta Trader 4 or 5

[Haihappen90]

Hello i am new in Trading . pls can you help me to understand whats the different ?
thank you very much for help

 

[igogreen]

Hello i am new in Trading . pls can you help me to understand whats the different ?
thank you very much for help

hello ... Here are the key differences

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms developed by MetaQuotes Software. While they share similarities, there are several key differences between the two:

1. Programming Language: MT4 uses MQL4 (MetaQuotes Language 4) for developing custom indicators, scripts, and Expert Advisors (EAs). MT5, on the other hand, uses MQL5 (MetaQuotes Language 5). MQL5 is a more advanced and versatile programming language with additional features and capabilities compared to MQL4.
2. Asset Classes: MT4 was primarily designed for trading in the Forex market. It supports trading in currencies, as well as some CFDs (Contracts for Difference) and commodities. MT5, on the other hand, was developed to support a wider range of financial instruments. In addition to Forex, MT5 also allows trading in stocks, futures, and options, making it suitable for multi-asset trading.
3. Hedging: MT4 allows hedging, which means you can open multiple positions in the same instrument, including both long and short positions. This feature is particularly useful for traders employing different hedging strategies. MT5, however, does not support hedging. Instead, it uses a netting system, where multiple positions in the same instrument are consolidated into a single position.
4. Depth of Market: MT5 offers a Depth of Market (DOM) feature, also known as Level 2 market data, which provides traders with information about the order book and liquidity at different price levels. This feature allows for more advanced analysis of market depth and can be particularly beneficial for scalpers and active traders. MT4 does not have a built-in DOM feature.
5. Timeframes: MT5 introduced additional timeframes compared to MT4. While both platforms offer a variety of timeframes for chart analysis, MT5 includes more options such as 2-minute, 8-hour, and 12-day charts, providing traders with greater flexibility in their analysis.

Another thing to keep in mind that you can't use indicators that are coded for MT4 on an MT5 platform and vice versa.

 

[raj20090]

Mql5 has very very good inbuilt tools and strategy tester. Only down side is the language syntax and methods. But it's subjective. Those who come from the background C family of programming languages, would fit right at home. For those who are more familiar with python and js, might find it hard.

 

[ElArqui]

I think both are good but you need to study both. There are algotihms for both sides of the road.