Meta Trader 5 stands out as the latest release in a series of really popular platforms for forex trading created by MetaQuotes Software Corporation. Although people might think differently, Meta Trader 5 is not actually an upgrade for Meta Trader 4. The new source code is 100% new and while still retaining some of the great properties that made Meta Trader 4 so popular, it comes with a lot of new features and a promise that forex traders are going to find trading easier by using the new version of the software.
Meta Trader 5 – New Features
According to an official statement by the company, Meta Trader 5 includes over seventy analysis tools and 21 new time frames. The strategy testing platform was upgraded after a consultation was done with top forex experts. Even in-house reporting and market depth tools were upgraded. Even so, the most important part of the new software is the capability to process trades in numerous financial markets around the world. The new tool was especially designed for forex traders and will not aid other types of traders. 4 support operation types offered are included: Instant, Exchange, Request and Market.
The old MQL 4 development system was upgraded to the new MQL 5 version. It will use MetaEditor 5 as a programming language. You will be happy to hear that all issues and bugs of the past were fixed and the language used was also improved while being condensed towards a friendlier format. Thanks to this we can now have better EAs created. The one problem is that EAs that are based on MQL5 will not show backward support.
Reasons for Choosing Meta Trader 5
The first thing that needs to be considered is the fact that all the great features of Meta Trader 4 are included in Meta Trader 5. Also, some of them are improved and rearranged in order to better fit the context and helping in achieving a higher efficiency. Designers did not waste time and managed to do much more than just innovate. Everything is still simple and ordered, just like in the previous versions of the software.
The main reason why we should upgrade to Meta Trader 5 is the fact that forex evolved and there is now a need to have a trading platform that is more advanced. Meta Trader 5 manages to offer us that, especially thanks to the 2 need indicators included: TEMA and TRIX. Both of them will allow us to better analyze the market and use new oscillation analysis in the market.