The MetaTrader 5 blog has translated a review of the closed beta. It was originally written in russian here. Hopefully the public beta is just around the corner, with one comment on the oroginal russian site suggesting 1st October.
"Practically, everything that many developers wanted from MQL 5 and Metatrader 5 was implemented and realized at the highest level. The major change in MQL5 is the introduction of OOP (Object-oriented programming). Professional programmers have now more opportunities, but those who learned to write in MQL4, can use the MQL4 programming in MQL5 without the benefit of OOP."
Showing posts with label MQL5. Show all posts
Showing posts with label MQL5. Show all posts
Friday, September 25, 2009
Thursday, September 17, 2009
MetaTrader 5 is in closed beta testing
At last MetaTrader 5 has been released in closed beta testing on 9th September, see here. I don't have a copy unfortunately, but am looking forward to the public beta, which I am guessing will start sometime in October. They cancelled the 2009 trading championships so they could concentrate on MT5 development, and I think many traders like me will be setting themselves a goal of entering the 2010 championships. If I ever get something going with my neural network approach then I'll find it much easier to translate the C++ DLL that I am writing into MT5.
My guess is that the earliest that brokers will start changing over to offering live MT5 trading is late in 2010.
My guess is that the earliest that brokers will start changing over to offering live MT5 trading is late in 2010.
Saturday, August 22, 2009
Virtual order manager
Time to develop a virtual order manager. This will potentially be useful now for the FIFO rules in the US, and also will help me to go through the thought processes needed to build one eventually in MQL5.
Although I've seen quite a few VOMs, the reason they have usually been developed is to avoid stop-hunting. Many have the incredibly risky approach of eliminating broker stops entirely, which means you have no risk control if your internet connection or PC goes down. Nonetheless, I should do a search for anything out there that might be useful first.
The VOM that I would like to see, or develop, goes like this:
Although I've seen quite a few VOMs, the reason they have usually been developed is to avoid stop-hunting. Many have the incredibly risky approach of eliminating broker stops entirely, which means you have no risk control if your internet connection or PC goes down. Nonetheless, I should do a search for anything out there that might be useful first.
The VOM that I would like to see, or develop, goes like this:
- Real orders at the broker reflect total position for that pair, but the VOM also maintains a virtual set of orders on the MT4/MT5 platform. So you could be virtual long EURUSD 0.2 lots and virtual short EURUSD 0.3 lots, and the real position showing in the open orders display would be short 0.1 lots.
- Virtual stops and virtual takeprofits are maintained as pending virtual orders in the opposite direction.
- Maintain all the usual virtual Magic numbers and comments etc
- Option to display virtual open prices, SLs & TPs on the chart
- Lastly, the most important and the thing missing from most VOMs I've seen: maintain a real broker stoploss. This will ensure that disaster protection is there, but under normal conditions should never be hit, ie shouldn't get in the way of the virtual stops.
MQL5
I'm keenly watching for news on the new Metatrader 5 platform, which will introduce the MQL5 programming language. MQL5 is supposed to have a number of very welcome features, such as OO, structures and increased speed.
http://www.mql5.com/ still just says "MQL5.COM is coming soon", and the main information comes from an interview with the developer Stanislav Starikov. There's an excellent compilation of information on http://metatrader5.blogspot.com/.
The MT5 programming language apparently will take on some of the C++ OO attributes, but that alone wouldn't necessarily make MQL4 code incompatible with MT5, since C code is forwards compatible with C++.
The main reason for incompatibility is that position management is going to be completely different. As I understand it, open positions maintained by MT5 will reflect the total position for that pair, and it will not be possible to have a simultaneous long and short trade with the broker, such what often happens now with a long term EA running with a scalper.
This change in position management approach may need to happen now anyway even in MT4, with the FIFO rules against hedging introduced in the US.
The MT5 approach doesn't stop the practice of maintaining opposite positions, but it means that position management code will need to maintain "virtual positions" in the EA.
http://www.mql5.com/ still just says "MQL5.COM is coming soon", and the main information comes from an interview with the developer Stanislav Starikov. There's an excellent compilation of information on http://metatrader5.blogspot.com/.
The MT5 programming language apparently will take on some of the C++ OO attributes, but that alone wouldn't necessarily make MQL4 code incompatible with MT5, since C code is forwards compatible with C++.
The main reason for incompatibility is that position management is going to be completely different. As I understand it, open positions maintained by MT5 will reflect the total position for that pair, and it will not be possible to have a simultaneous long and short trade with the broker, such what often happens now with a long term EA running with a scalper.
This change in position management approach may need to happen now anyway even in MT4, with the FIFO rules against hedging introduced in the US.
The MT5 approach doesn't stop the practice of maintaining opposite positions, but it means that position management code will need to maintain "virtual positions" in the EA.
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