When it comes to online trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the two most commonly used equipment. Both platforms offer a wide range of technical indicators that help traders analyze the market, but there are significant differences in how these indicators work. It is important to understand these differences if you want to choose the right platform for your business needs.

1. The purpose and design of the Platform

MT4 was mainly developed for Forex trade, while MT5 was designed to support several financial markets, including shares, goods and futures. MT5 also comes with better technology and offers quick performance and better data processing.

Key Differences:

• MT4: Built for Forex trading, simple

• MT5: supports many markets, faster and more powerful

2. Programming language for the indicator

MT4 indicators are created using MQL4, an initial -oriented language. MT5 uses MQL5, which is more advanced and supports object -oriented programming. This allows the MT5 indicators to handle more flexible and complex trading strategies.

In a moment:

• MT4 (MQL4): Easy for simple indicators and strategies

• MT5 (MQL5): Better for advanced, tailor -made indicators

3. Built-in indicators and Tools

MT4 comes with over 30 underlying indicators, while MT5 provides more than 38. MT5 also provides more drawing tools and graphic objects, which allows for intensive technical analysis.

Compare:

• MT4: 30+ indicators, 9 time frames

• MT5: 38+ indicators, 21 timeframes, plus an integrated economic calendar

MT5 provides more control and insight to traders, especially for TIMFRAME analysis with several time.

4. Compatibility Issue

A big disadvantage is that MT4 indicators are not compatible with MT5. If you have customized indicators written in MQL4, they will not work directly in MT5. You must change or write the code in MQL5.

5. Strategy tests and backtesting

Backtesting strategy is an important part of the development. MT4 allows only entrusted back testing, which can be slow. MT5 supports the multi-thread and multi-currency back testing, making it faster and more accurate.

Test capability:

• MT4: Basic testing, slow performance

• Mt5: Advanced testing, fast and supports many assets

Conclusions: What you should use

Both platforms are excellent, but your choice should depend on your trading goals and technical requirements.

Select MT4 if:

• You are a beginning

• You only act in foreign currency

• You will have a simple, user-friendly platform

Select MT5 if:

• You trade in many markets

• You want more indicators and access to equipment

• You need quick performance and advanced test features

In summary, MT4 is ideal for easy, forex concentrated business. On the other hand, MT5, is better beneficial for advanced traders, who require more flexibility, more indicators and modern equipment.

 
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