The onset of trading platforms led to the creation of distinct coding languages that supported the advancements of these trading platforms.
The other reason that these coding languages came to be was because of the need to automate trading strategies.
As more and more people get interested in the trading industry and mostly as a career, the platform developers started creating coding languages that would be easy to use, and this has been one of the major reasons why we have coding languages like MQL4 and MQL5.
These two are the most recognized coding languages in the trading industry because of the trading platform they are related to, the MetaTrader platform.
This platform is the go to the trading platform and everything in it is run on the coding languages MQL4 which is the earlier before a more robust easier to use MQL5 was introduced into the market.
The allure to automate a trading system can be said to be the one single most reasons that drive the use of the coding languages. It is very important to know some things about the most recent trading language created by MQL5.
The reason behind this is that you may have a prior understanding of coding using MQL4, but there are some advancements made to create the most superior MQL5.
Social Features of MQL5
With everything in the technology industry that has had updates, it is obvious that the updated version comes with new features that one may need to know so that the new functions may be of help.
There is one inclusion to MQL5 that has made it a fun experience for its users, it has the MQL5 cloud network, and this is one of the best inventions that Metaquotes, the company that developed MQL5 came up with.
Now the developers can share their expert advisors on a cloud network that is only meant for MQL5 developers; this is not only genius, but it will help the developers share and improve on MQL5 as a coding language.
Also through the cloud network the user can sell their idle space and memory or CPU time on their computer to other developers who may want to utilize it at a fee, this not only enhances the developer's outcome but the computer owner also gets to make an extra earning from their trading.
To ensure that each member of the MQL5 community has the best services Metaquotes has also included an MQL5 forum where developers meet and inquire about their expert advisors this way they get to share and bounce around ideas.
The forums are divided into various topics with their basis being MQL5 this way the developers will stick to their relevant topics and deliberate on them with other members interested on the same.
For those who may want to know where to access the MQL5 coding language, it is easier to get an MQL5 broker or a broker who offers the MT5 trading platform.
These brokers offer the platform freely and to test it you can sign up for a demo platform, this way you can test your MQL5 based expert advisor with no risk of losing real funds.
Technical Features of MQL5
Many newbie developers may have a hard time understanding which functions to use and where to utilize these functions properly.
So, you have created your expert advisor, and you are wondering what next, worry no more because MQL5 tester is inbuilt into the MT5 trading platform and you can run your expert advisor via various testing methods.
With this tester, you get to choose which style of testing may fit your expert advisor; the every tick method, one minute OHLC, and open price only.
After doing the tests on your expert advisor, you can get a graphical display of your results and this way you can be able to analyze the performance in depth and make the necessary adjustments.
Also through the tester, you can optimize your expert advisor by changing the parameters to fit the current market environment.
There are other functions that have been improved like MQL5 Ordersend which is used to include order types into your expert advisor; this is important to have because if your system is based on you running it without much human or in this case trader intervention, then you will need these order types in your system.
There is the MQL5 ontrade which is a function that is used to call predefined events. These events include open position, close position, a position added, modified, partial close and other predefined positions.
The other functions are MQL5 Positionselect which is used to call an open position to work further on it such as modify it or closed it, the MQL5 DateTime is used to store the date and time as the number of seconds passed as from 1st January 1970.
This function occupies a small 8 bytes of memory. It may be tough to remember all these functions, so there is MQL5 CTrade which is a class of easy to access MQL5 functions at once.
So you have developed your system, tested it and optimized it, and you want to sell it so where do you do this? There is the MQL5 market where you can sell your expert advisor or rent it through a subscription service.
All that you make from this is credited to your account on the MQL5 account and from there you can withdraw through PayPal or WebMoney.
Which is Better: MQL5 vs. MQL4
This will be the never-ending discussion, but at the end of the day, everyone will always have his or her opinions on this issue.
MQL5 has the advantage of cloud computing connecting the developers and giving them the ability to share ideas.
Among other advantages listed above MQL5 is the better option but because of the widespread use of the MT4 platform you get that MQL4 is much more popular.
Either way both of them are advancing the way traders view the markets.