MetaTrader 5 coming out, not compatible with MT4 EAs or indicators - Pip Cop

ttradr · 2009-06-30, 11:27 AM

OHhh Boooy How is THIS going to affect EA's and robots?

Metatrader 5 will be launched in the autumn of 2009.
MT5 is not compatible with MT4 for the custom indicators and experts, so this means the end of using the Belkhayate system, Oan system and other systems, which rely on custom indicators.
MT5 has a new integrated development environment called MQL5 which includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5). Unfortunately the MQL4 and MQL5 languages are not compatible. This means that every custom indicator

and EA must be rewritten to work with Metatrader 5. It is not clear yet if there will be a tool which converts the MQL4 source code to MQL5 or allows MQL4 executables to run in MT5.

The official statement of MetaQuotes about this:
You should also understand that we doing it not to make you redo the EA developments every time when we launching a new platform. From the beginning of Metatrader 5 development we thought that we will be able to save the compatibility. And we said about it many times. But the numerous traders/developers requests made us change our mind. We`ve understood that just cant make a new language compatible. At the same time we have made MQL5 more powerful and in this way we gave you, traders and developers, more abilities - that was our main goal in developing of MQL5 IDE. From one side new language with the new abilities and from the other side - MQL4 and MQL5 compatibility. Unfortunately, these two aims cant be reached at the same time.

http://metatrader5.blogspot.com/

**PipCop** · 2009-06-30, 12:28 PM

This should be interesting. I wonder if they are going to have full documentation.

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marlintrdg · 2009-10-31, 11:11 AM

Have a look at this outfit, it runs MT4 Eas & TradeStation code.

http://protrader.net/new/en/broker/t...y/ptl_builder/

Its in DotNet though

**1ka** · 2009-11-04, 02:42 PM

Quote:

Originally Posted by ttradr

OHhh Boooy How is THIS going to affect EA's and robots?
...

http://metatrader5.blogspot.com/

You can download the client from that site too - look towards the right.

The EA coding style is more like C++

, which is more complicated than standard C. You need to get into Objects and Classes. However, there are a few good things in here such as 'timers and events' so no longer do we have to wait for a 'tick' to drive the EA.