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Thread: 10 Difference between mt4 and mt 5

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    10 Difference between mt4 and mt 5

    [lang=id]1 Installation Simple and straightforward. Broker server address required during account opening during installation (MT4)
    Metaquotes trading server now included as a default in the opening account phase of the installation. But pinging the server does not work
    sometimes. Ability to add new server from MT5 for a demo account included. (MT5)

    2 Charts/ Timeframe 9 Timeframes (MT4)
    21 Timeframes from 1min to 1month and unlimited number of charts. 100 charts can be opened at a time. (MT5)

    3 Fundamental Analysis (news trading) (MT4)
    Does not have Forex Calendar A separate economic calendar tab with features like news event, schedule, impact, forecast, previous & others. (MT5)

    4 Commerce/ Market Does not have commerce integrated into the platform. You have to visit MQL4.com for Market Place. (mt4)
    Integrated into the platform. You can directly purchase Forex products from MQL through the Market tab on the platform. (mT5)

    5 Indicators & Analytical Objects 30 inbuilt indicators. (mT4)
    38 inbuilt indicators. New indicators added. 22 Analytical Objects, 46 graphical objects. (MT5)

    6 Orders 2 market orders, & 4 pending orders (mT4)
    2 marker orders, 6 pending orders, 2 stop orders. (mT5)

    7 Expert Advisor MetaTrader 4 Editor & Strategy Tester. EAs are designed with MQL code language and they are faster to compile. Cannot port EA
    code on MT4 to MT5. So EAs on MT4 would not work on MT5. (mT4)
    MetaTrader 5 Editor, Improved Strategy Tester, Strategy Tester Agent Manager for remote optimization of expert advisors, e.t.c. EAs are designed with
    C++ and they are quite slower to compile. (mT5)

    8 Interface Easier to navigate around. One click trading and Drag and drop is only included in MT4 Build 500 version. (MT4)
    Few additions in the design interface. Search box included, Details tab on the Market Watch window. One Click trading, drag and drop, e.t.c. (MT5)

    9 Trading (Hedging, FIFO, e.t.c.) Allows all trading methods.However broker regulations are implemented on their MT4 platforms. (MT4)
    Does not support hedging & implements FIFO by default. (MT5)

    10 Brokers More brokers deliver their services on MT4 than MT5. (MT4)
    Not much when compared to brokers who deliver their services on MT4. (MT5).[/lang]

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  2. #11
    Trader miya's Avatar
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    As this thread is very much important for me and especially for the newbies here we come to know about the difference Mt4 and Mt5. As earlier I can't able to elaborate about it but after this thread I come to know about it and how to use it. I sincerely thanks to sharing this very much important thread with us which gave lots o knowledge about Forex market and also have to gain money.

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    Quote Originally Posted by miya View Post
    As this thread is very much important for me and especially for the newbies here we come to know about the difference Mt4 and Mt5. As earlier I can't able to elaborate about it but after this thread I come to know about it and how to use it. I sincerely thanks to sharing this very much important thread with us which gave lots o knowledge about Forex market and also have to gain money.
    Well, you will elaborate this thing when you are going to use meta trader 5, you will learn a lot of things here but you will be able to understand those thing when you are going to use them in real. So, use meta trader 5 and then see what are the differences, your appreciation worth, but focus on practices and practical. :)

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  4. #13
    Trader Hukam's Avatar
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    Yeah right mate until we will not do any practical with meta trader five software till then we will not be able to know much about this software but thread creator explained very well about meta trader four and meta trader five personally I am using meta trader four for right now and happy with it

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  5. #14
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    Thanks for this great thread most of trader's don't know much about meta trader five software I am also one of them but after reading your thread I learned a lot about this terminal I think the use of 21 time frames can help us to make more better analysis in the market so meta trader five is looking a good terminal at all

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    Quote Originally Posted by rinaji View Post
    there are no hedging feature in mt5
    dear friend, i have no experiences with mt5 and i see that you knew something about some words above, ? will you tell us what does it mean ? i still do not get the understanding from it

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  7. #16
    Trader Hukam's Avatar
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    Meta trader five is new software for me at the moment I never used this software till now but I heard that we can't use ea, and can't do hedging in this software, so I think many people will not be able to enjoy their trading with this software but there are many types of time frame so I think both software have their good and bad points for trading

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  8. #17
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    I think that the differences are still more than 10. and traders should be careful in using what they know in the two against each other. The both software are from the same company, and the traders mindset of one might not make such trader see the beauty of the other. The both is very good if the trader have goof mindset with them.

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  9. #18
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    Quote Originally Posted by newentry View Post
    dear friend, i have no experiences with mt5 and i see that you knew something about some words above, ? will you tell us what does it mean ? i still do not get the understanding from it
    Yes I can tell you about meta trader five sir its a very good trading platform like mt4 but unfortunately you can't do any hedging in meta trader five and can't use any robot trading. But there are some good points too that you can use many time frames for making a better analysis. Check this chart from here you will get a good idea:

    Meta trader five.JPG

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    [lang=id]
    Quote Originally Posted by yantow08 View Post
    2 Charts/ Timeframe 9 Timeframes (MT4)
    21 Timeframes from 1min to 1month and unlimited number of charts. 100 charts can be opened at a time. (MT5)
    it is very interesting, mlt5 has21 time frames, so we can analyze the market deeply, but i ever that someone can set a new time frame at mt4, let say for 3 minute, do you have the steps or does someone here can give the steps for it ?[/lang] because my basic is scalping and need time frames for 3 m

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  11. #20
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    Quote Originally Posted by samprazaan View Post
    [lang=id]
    it is very interesting, mlt5 has21 time frames, so we can analyze the market deeply, but i ever that someone can set a new time frame at mt4, let say for 3 minute, do you have the steps or does someone here can give the steps for it ?[/lang] because my basic is scalping and need time frames for 3 m
    Just use the script "periodconverter".


    Attach to M1 time frame, setting inputs: Period multiplier factor : 3 (for 3 minute)

    Open menu "File" - "Open Offline" - and then find m3 offline on the list..., (just like using renko chart).
    It is offline chart, so we had to open two charts in one time in our mt4 platform, online charts (m1) and offline charts (m3). Maybe you have already know about how to attach renko chart.

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    If you lose, be patient. If you win, stay humble

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