I have been working hard to learn mql4, but today I read the new metatrader 5 language will be mql5 and it will not be compatable with mql4 this means all previously coded EA’s and indicators will not work with MT5 I also read mql5 allows only one order per symbol at a time.
SDC,
I wouldn’t sweat it. Compatibility is a relative issue…its like saying an EA is not compatible with ECN…generally needs some minor changes and then it works.
You can download a beta version of MT5 and check out the MQL5. It is about 90% MQL4 with some new concepts etc. Your MQL4 will be an excellent base to move up to MQL5 which I don’t see being extensively utilised for at least another 12 months.
I read somewhere that the mq4 coding was very different and it would take a lot of work to change indicators?
Right, MQ5 is a totally different language. You have to learn it from scratch. However i am sure brokers wont be too fast switching to mt5 because that will make 99% of the EAs to stop working! The vendors must update and rewrite all the eas and it will be a real issue with old eas and free eas.
Face It. MT5 is Vista for Forex. Brokers will stay where the traders are. Developers are ignoring MT5 and brokers are dancing because of it. (since they wont have to pay 50K+ for MT5 servers). Making all MT4 EA’s useless was the stupidest move they could make.
Face It. MT5 is Vista for Forex. Brokers will stay where the traders are. Developers are ignoring MT5 and brokers are dancing because of it. (since they wont have to pay 50K+ for MT5 servers). Making all MT4 EA’s useless was the stupidest move they could make.
I agree here. looks like the MQ company only wants to drag more money on this mt5 idea without providing anything new. i even herd MT5 will not allow hedging, Martingale and other favourite risky strategies by default…