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“Ease of use and customisation are two of the biggest plus points to the MT5 software,” notes Tovmasyan, who also says, “When launched, Alpari clients will be able to create their own indicators, as well as fully customise their trading screen and charting package to show the information in a way directly suitable for the individual. In the newest version there is also the opportunity to trade other asset classes. Tis means that comparisons between currency markets and commodity, equity, and precious metals markets will give MT traders opportunities to diversify their portfolio, while allowing Alpari to continue the expansion of its product offerings.”
EAs and back-testing
Goddard says that for traders preferring to automate their trading, the new MT5 platform includes advances, trading scripts, and a more powerful EA. Te MT5 script has undergone a major overhaul, where the language has been condensed and improved to be more accessible and user friendly, he adds.
Continuing, Goddard remarks: “MQL5 IDE is a built-in development environment for writing and using EAs. It helps traders to automate their trading strategies or write their own technical indicators. Te MQL5 IDE environment includes: the MQL5 language for programming trading strategies; MetaEditor 5; and MetaTrader 5 Strategy Tester.
“Shortly MetaQuotes plan to release the second version of the MQL5 Wizard, which is a part of the client terminal. Tis wizard is designed to enable fully automatic generation of EAs without any knowledge of MQL5. Te second version will generate EAs based on different combinations of signals (the first version can use only one signal). At Vantage FX we believe this will spur the interest of ordinary traders in MetaTrader 5 and MQL5 in particular,” Goddard states.
On how the faster processing of MetaTrader5 will better assist traders using EAs for automated FX trading, Dilkes comments: “MQL5 is fully object-oriented and will allow the traders to create sophisticated EAs for high frequency and automated trading.
“MT5 also allows the trader to use back-testing on several remote agents and it facilitates using more parameters for run-time EA optimisation. Te new platform also offers a multi-asset strategy tester. Regardless of the fact that MQL4 EAs will not port to MQL5, the added benefits of MT5 and MQL5
166 | april 2011 e-FOREX
“Te inclusion of over 21 different time frames and 70 analytical tools will greatly minimise the need for clients to look to external charting and give them the fast,
reliable and accurate data that they expect from a world class broker and world class trading software.”
are so great that most developers will want to rewrite anyway,” says Dilkes.
Support for mobile devices
Te iPhone and iPad version of MT5 has already been released, and an Android version will be available this summer. Future builds of these mobile terminals will support charting and analytics as well as full account and position management, remarks Dilkes.
On the support MT5 offers for standard mobile devices, Muñoz says the Apple-orientated apps are to be of major significance: “Personally, I think that
Mushegh Tovmasyan
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