MetaTrader 5 – new Forex trading platform
Posted on Oct 25th, 2010 in Metatrader Forex Platform
Metatrader 5 trading platform has been rewritten from the initial stage. If we will compare the trading opportunities to the new trading terminal version, they have become broader. First, the platform MetaTrader 5 allows you to work in different markets. In new platform you have the ability to trade on forex, futures and stocks.
Secondly, new Metatrader trading platform version has got new tools such as Blotter in addition to well known Market Watch. Blotter is the tool which should be in trader’s arsenal for successful trading on stock markets. Also ordering system has been extended, and now traders can open 5 order types (to compare Metatrader 4 had only 4 order types).
MetaTrader 5 trading platform supports 4 types of execution operation: Market, Instant, Request и Exchange. New type of operation execution is Exchange, it serves for processing trading with currency exchange tools.
The Metatrader 5 has been divided conceptions of the position, order and trade. Order – is a request for execution of an operation, as a result it may open trade deal. And the position is combined conditions of transactions on a particular financial instrument.
For more precious analytics trading terminal has special reports. They show initial and final values of the deposit also other characteristic. And with above-mentioned reports you can determine performance of own trading activity, such as GHPR, Z-score, Profit Factor, and others.
Market Analytics
Dynamics Analysis of the financial instruments prices is the most important component for successful trading. MetaTrader 5 gives traders as much as possible analytical capabilities.
Three types of charts are available for traders: Line, Candlestick and bars. For the analysis of these data, you can use 38 built-in technical indicators, 39 graphics and a lot of MQL5-indicators. All of these analytical tools can be combined in different ways: on the indicators overlay objects, build the indicators from other indicators and so on.
The quotes History in the MetaTrader 5 terminal is stored only in the minutes form and the (M1), and all graphics are built based on them. This decision has increased the number of timeframes to 21, and for the quotation analysis you can choose any time period, from minutes to months. The main timeframes limitation is their multiplicity: one hour must be an integer to minute periods. This rule satisfy the following timeframe: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.
The historical data storage format in the terminal MetaTrader 5 has high efficiency. For example, minute story quotes on GBPUSD over ten years, takes only about 10 megabytes. Downloaded / Imported the story once, you can build all the graphics on this instrument from the M1 till MN1.
Analytics in MetaTrader 5:
- 21 timeframe
- 38 technical indicators
- 39 graphics
- 4 mode scaling
- 17 styles on Custom Indicator’s
The programming language for trading strategies MQL5 has a very high speed of execution and for this indicator closely resembles the C language. In comparison with MQL4 new language is faster in 4-20 times. This allows you to use more sophisticated and complicated experts who are able to handle large amount of information per unit time and, consequently, produce more accurate forecasts of price changes. In addition, a new language is object-oriented, which facilitates and accelerates the development of advisers.
For writing Expert Advisers MetaEditor 5 has inbuilt EDITOR, equipped with the new system IntelliSence. It automatically adds the various language constructs and displays a prompt help for the parameters of various functions. Integrated Debugger allows you quickly find mistakes and correct them. After completion of the work and the compilation of an expert, it automatically appears in the terminal and can be immediately put into operation in the market.