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What is the difference between metatrader 4 and 5 – mt4 vs. mt5 ?

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Metatrader 4 vs Metatrader 5 – Which One Should You Use?

As it seems the traders are given a choice to make MetaTrader 4 vs. 5 while opening an account. Brokers can also make this decision. It’s up to the individual broker to make a decision for selection between MetaTrader 4 and 5 that must be accessible to traders or should support MetaQoutes terminal platform. Users are having usage experience of MetaTrader 5 (MT5) willing to make use of MetaTrader 4 (MT4). Most of the traders make use of most famous and older one platform known as Mt4, MetaQoutes has stopped introducing variations in their platforms, but has not made criticism or compel brokers to purchase a license for MetaTrader 5. Brokers who are keen of getting the issuance of MT4 License, MetaQOutes clogged the issuance of new MT4 License to those brokers on January 12, 2018, which means that these brokers have to make use of another platform or can accept MetaTrader 5. Decisions can become complex when there is an insufficient provision concerning the server capital for the existing Mt4 License Holders. Having this perspective, let’s make a detailed study of two types of terminal regarding their languages correspondingly.

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mt4 vs. mt5

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MetaTrader 4 vs. 5 deals with the substance of acquaintance, how much simple or easy to use and all MQL languages.
MetaTrader 4 vs 5 (MT$ vs MT5) Languages (MQL4 vs MQL5)
MetaTrader 4 was introduced globally in 2005 whereas MetaTrader 5 released in 2010. Language has similar syntax along with the prominent and major changes in keywords that distinguish both and make hard for an MQL4 file to function in MT5 smoothly and vice-versa of it as it implements the MQL5 and MT4.

MQL4 and MQL5 have many similarities with the programming language, C++. MQL4 has maintained its position or popularity in the industry even after the release of MQL5, which has helped a lot in distinguishing the programming language.
However, this feature makes the MQL4 and MQL5 interesting one and offers a flat contest to everyone because the programming language is such as which requires updates to programming languages like Python or Ruby. Variation in MQL4 and MQL5 give a meaning of going beyond the side of marketing from the MetaQoutes platform which is the major source of the promotion set it and forget it kind of tactics to make a trade with “robots” (Expert Advisors) and custom indicators. This kind of elevation creates hurdles for newcomers who just found out that their MT4 version has been updated or would find that their MT5 version will be updated and they seem like a real victim of the never terminated Software Development Life Cycle.
There will be no updates in MQL4, but there shall be continuous variation in MQL5. It will reduce the hurdles for newcomers who want to enter in MetaTrader 4. It all deals with the game of Relaxed and Comparative Limitations in Competence vs. Stimulating and Vigorous Aptitude.

Pros and Cons of MetaTrader 4 vs. 5 (MQL4 vs. MQL5)

MetaTrader 4

Advantages
There will be no variation regarding updates due to which no need to change or alter the programs comprise of new versions.
Expert Consultants and Indicators are independent to choose a file from the .mq4 file, and the — ex4 file for implementation.
MQL4 is of much benefit as it has seen that many brokers make use of MT4.
It’s pretty easy to code. Expert Advisor can make it is short and make a structure with ease.
Disadvantage
Variation in currency competences.
No circumventing proficiencies.
Overall, it is limited to the skills and capabilities that a terminal maintains.

MetaTrader 5 (MQL5)

Advantages
Language proficiency is improved by bringing some variations.
A rapid change in language syntax with the advancement in terminal technologies is a plus.
Hedging abilities.
Currency variation skills.
More stipend for more complexity.
Disadvantage
In the case of transitioning from MQL4, this is considered as the most difficult and complex language.
Libraries are important.
One expert can handle many libraries and the files attached to it.
Not anything is independent.
Most of the individuals are familiar to MQL4 are now moving towards MQL5 because MQL5 has more features and capabilities that are required at this time concerning the language structure and efficient building structure of programs compel others to learn a complex one as compared to the simpler one that is of no worth.
MQL does not demand a new programmer in mind, but it is a basic object-oriented language.
Languages can vary a little bit in their structure and syntax, of course, it demands to learn things from the very beginning while moving from MQL4 to MQL5. It is an impossible task for those people who try to convert .mp4 file in MetaTrader 5. Conversion tools fail in case of binding the huge divide concerning the code structure between Meta Trader4 and MetaTrader5. This is the matter where the structure of different files .mqh and .mq5 have to be made or sometimes various mq5 files to carry out the same task, but the real code is more vigorous incompetence, more important in backtesting.

MetaQoutes software has given an overview of MetaTrader 5 for almost seven years ago, but some traders exist who prefer to work on MetaTrader 4. There is a contrasting criticism on MT5 by the market contributors who say that MetaTrader is comparable to MT5 in its all functionalities. Then what is the major difference between MT4 and MT5?

Expert Values

MetaTrader basically designed for “over the counter” Forex tools like CFD whole, on the other hand, MetaTrader 5 was made for the stock instrumentation including shares, geographies and some other offshoots.
MetaTrader 5 platform has been made for the index of RTS standard interchange

Standards of opening positions
MT4: hedging – a lot of the transactions can be made by the trader that comes under the umbrella of multidirectional for the same tool and at the same time with the addition of place, one-direction trades. Traders know well about this process because this method involves reducing risks.
MT5: netting – the trader can make a trade of instruments in a single direction while multidirectional positions are not permitted.
A trader is allowed to open an account in MT5 and trade instruments too; except stock unavailability at this account.

Market Depth
MetaTrader 5 delivers market depth with the exchange of instruments that are being traded while from the other perspective MT4 only give a chance or an opportunity to make deals with the resources in ECN system like OTC. Both give an opportunity to traders to make a clear analysis of orders that how much have to deliver and how much have to buy, measure capacities of the gadgets, and deals with two types of trading functions:
Sell/buy instruments with the exchange of money at the spot

Place trading orders – remaining or pending orders to sell/buy a substituting tool at the fixed price
Market depth in MetaTrader 5

Market depth in MetaTrader 5

Market trade seems best to scalpers, traders who desire to perform high but a full risk trading because of market depth boost up the presentation of many people. Experts often make use of some special kind of trading tools for carrying out the processes.
Tester of strategies
MT5 gains multi-tasking and significant tester, who can execute the function by testing a portfolio, which grabs the attention of traders dealing with the standard market equipment. Quotes history can be recovered or downloaded in the terminal.
Testing results appear as a chart
MetaTrader 5 tester is given in MQL Cloud Network with the limitless contribution to make a calculation using tens of thousands of consistent PCs. A trader can only get this function if she/he has installed a special kind of application strategy Tester.

MQL4 vs. MQL5
MQL4 and MQL5 distinguishable from each other on the level of programming language platform. MQL4 is a language (MetaQoutes Language 4) basically used for machines, writings, and pointers used in MetaTrader 4. This language has limited scope as compared to the other languages, as it can be seen that this language is used for basic level calculations or simple commands.
MetaTrader 5 has a major focus on MQL5 language that is brand new, more significant and much closer or similar to the object-oriented C++. The syntax makes programming language easy to operate for developers: a trader can write code or can make changes in it, pointers and vigorous interchange by using MQL5 language under the platform of MetaEditor, as the language gives the countless opportunities.

MetaEditor – multi-tasking editors are available for the development and adjustment of trading robots and pointers
Custom advisor and trading advisors should learn to track the activities of a computer mouse and keyboard pointer, in case interrelating with some peripheral devices a special thanks or homage to the program installed in MQL5 for the event processing. MQL5 official website contains every kind of library, templates and most popular functions that are used frequently.

Conclusion
A time tested platform that is simple to use as compare to others with extra functionalities, basically considered for the Forex equipment, CFDs and some other OTC byproducts.

Prohibited by FIFO rule – close trade in Mt4 – problem fixed

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What does prohibited by fifo rule in mt4 mean ?
Sometimes when you try to close a trade in Metatrader platfrom you will get this error message in journal tab : “Prohibited by FIFO rule”. Using Mt4 platform as FXCM for example, you can see this problem very often especially if you are frequent trader.

Cause :

First In First Out simply means that when you have multiple positions in the same currency pair, the position which was first opened will be the first to be closed. This execution process is the common practice in the US equities and futures markets.


sort mt4 postions by timeHow to close a trade and fix problem :

Step 1 : Sort trades by opening time.
step 2 : See oldest position
Step 3: Close the oldest position and than the second opened position, etc.

If you want to avoid this problem pick Mt4 brokers platform which alow hedging (hedging is not prohibited) and platforms which do not have FIFO rule. Accounts without FIFO rule you can find at non USA brokers. For example, I had fxcm prohibited by fifo rule problem few yars ago and I fixed using this strategy.

Metatrader ex4 write error after Windows 10 upgrade – solved

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After 7 days – problem is solved and fixed!
After I upgraded Windows 7 to Windows 10 I started to use Metatrader. I created expert advisor EA, and after compiling I got : “ex4 write error”.
After that I tried to compile a lot of indicators and EAs and all of them showed the same – ex4 write error.
What this means :
1) Your disk is full and you can not write files. (in my case I have 10GB free.)
2) Folder permission doesn’t allow writing. (in my case everything is fine)
folder security permission
If you see that MQL4 folder allow for system and administrator to write files this is not problem.You can check this if you press in Metatrader (mt4) : File/Open File Folder and than in MQL4 folder you press Properties than go to Security /Advanced and see write permissions.

3) Metaeditor has bug. (This is problem in my case)
On Novemeber 12, Metatrader got new version. 4.00 Build 910. In this version Metaeditor has problem to write compiled files. It will be fixed in next days but meanwhile you need to fix problem.

Solution :
Copy metaeditor.exe file from older version to new version. This is all !!!
In attach you can download version which I use. This is only metaeditor.exe file which you need to copy in installation folder.

Please check new versions of mt4 and mt5 and check article about mt4 vs mt5.

Tips to reduce MT4 memory use

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Last several weeks I am getting a lot of questions about Metatrader high memory usage.A lot of traders use VPS for trading, signals, scripts. RAM memory is big problem.

What to do when MT4 is using a lot of memory? How I can reduce memory on VPS?

Problem example:
If you open 25 charts in MT4 and for example 500000 M30 records x 25 pairs into memory your MT4 terminal will spend 1GB memory in some moments.On other side events tabs, market watch window will spend memory too.

Solutions :
1) Go to Tools/Options and go to char tab and set like this:
Reduce memory in charts section in Metatrader 4 - mt4 memory reduction
This is the most important tip for memory reduction.

2) Remove Market watch window and go to Events tab (Tools/Options/Events) and uncheck :
disable event tab in mt4 - memory reduction

Try to restart VPS 4 or 2 times per month. I do that each weekend when forex market is closed.In that case whole VPS and Mt4 will refresh and work much better.