Any inputs on the advantages of various platforms?
I really like the idea of using a Java based system (eg Jforex) since I would be able to do multiple currency and time frame analysis and cross analysis.
MQL4 Can't utilize multiple times and currency pairs to make decisions based of eachother. MQL5 did add some more features, but taking away hedging crippled it.
Or has anyone developed their own programs that are able to interact with their broker? I believe this would allow for greatest customization and really increase trading power.
No way does taking away “hedging” cripple anything (I used quotes because there are far more useful ways to use the word) . It might mean you need to do things in a different way. At any time, all that matters are your net positions and your orders. With hedging you have different ways to manage them than without hedging, but you can certainly achieve the exact same result.