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MetaTrader 5 is intended for trade on Forex, CFD and Futures, as well as the stock markets.
This gives the opportunity to trade on several stock exchanges and financial markets from one account. It was not possible in Metatrader4. Also the concept of working with the positions by new orders was changed. Terminal MT5 available in English and Russian interface.
Market Depth
In addition, Market Watch is realized in Metatrader 5 – market depth, but it’s still hidden. Market depth is a table or a visual displaying of the current sentiment in any market. Otherwise it is called "a window of demands".
In practical terms, market depth may be useful for short-term or medium-term traders, as well as who scalping. Using a market depth, you see not only the charts with historical prices, but the real sentiment of the market at the moment. We see that the market depth in MT5 yet realized poorly enoough , but let's hope that with time it will make it more functionally.
For example, here's how looks like market depth in the terminal Open E Cry:
Prevent locking
Terminal MetaTrader 5 (MT5) now has a drastic difference in comparison with MT4, such as the position, the transaction and the order. Here every trading instrument can have only one position. Now the order is an order, which is formed as a result of the transaction. Position of the same - is the amount of positions open on a particular instrument. Picture shows the differences between Metatrader4 and Metatrader5:
Analytical tools Metatrader 5
Analysis the price dynamics of financial instruments - the most important component for successful trading. In MetaTrader 5 developers have tried to give traders as much as possible analytical capabilities.
To services of traders as in the past there are three kinds of charting: linear, Japanese candlesticks and bars. For the analysis of these data you can use the 38 built-in technical indicators, 39 graphics and many MQL5-indicators. All of these analytical tools can be combined in different ways: on the indicators can be cast objects to construct indicators from other indicators, and so on. For convenience, the indicators are divided into groups: trend, oscillators, volume, Bill Williams, and others the opportunity to create their own groups and move the indicators between them.
History quotes is stored only in minutes (M1) in the terminal MetaTrader 5, and all charts are built on them. This decision has increased the number of timeframes to 21, and for the analysis of quotes can be used any time, from minute to monthly. The main limitation is the timeframe of their multiplicity: one hour must be an integer minute periods. This rule satisfies the following timeframes: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.
Storage format of historical data in the terminal MetaTrader 5 has a high efficiency. For example, the minute quotes history on GBPUSD over ten years is only about 10 megabytes. Pumped the story once, you can build all the charts on this instrument from M1 and ending with MN1.
Work with orders to MT5
In terms of opening orders in MT5 a lot of innovations. But the dialogue itself has remained virtually unchanged.
In addition to the general rules of execution of orders given by the broker, the trader can specify additional conditions in the field "policy performance" (valid only on the stock market) order window:
1) All or None
When you specify such conditions, the transaction can be accomplished only in the specified volume and costs equal to or better than specified in the order. If there is no sufficient volume in the market currently, then the order will not be executed.
2) Cancel
In this case, a trader agrees to make a deal on the most affordable on the market volume in the range specified in the order and at a price equal to or better than this. In this case the missing amount of additional demands not
exposed.
3) Redo (only for deferred execution)
When you specify such conditions the trader agrees to make a deal on the most affordable on the market volume in the range specified in the order and at a price equal to or better than this. In this case the missing amount will be put up additional demand at the price specified in the order.
Add more types of pending orders - they are now six:
• Buy Limit – the trading order to buy at a price «Ask» equal to or better than the price specified in the order. At current price level is greater than the value specified in the warrant. Typically, this type of order in anticipation that the price, having fallen to a certain level, will increase.
• Buy Stop – the trading order to buy at a price «Ask» equal to or better than the price specified in the order. At current price level is less than the value specified in the warrant. Typically, this type of order in anticipation that the price, having reached certain level and continue its growth.
• Sell Limit – the trading order for sale at a price «Bid» of equal or better than the price specified in the order. At current price level is less than the value specified in the order. Typically, this type of order in anticipation that the price, having to a certain level, will fall.
• Sell Stop - the trading order for sell at «Bid» of equal or better than the price specified in the order. At current price level is greater than the value specified in the order. Usually this type of order in anticipation that the security price reaches a certain level and will continue to decline.
• Buy Stop Limit - this kind of order combines the first two types, as a stop order to set a limit order to buy ( »Buy Limit»). As soon as the future price «Ask» reaches the value specified in the order, the order will be processed «Buy Limit» at the level specified in the warrant. The current price level is less than the prices, which are to be set pending order.
• Sell Stop Limit - this type of order is a stop order to set a limit order to sell ( »Sell Limit»). As soon as the future price «Bid» reaches the value specified in the order, the order will be processed «Sell Limit» at the level specified in the order. The current price level is greater than the price at which will be set pending order. And the price of a pending order above the level of its installation.
Autotrading
For the development and use of advisors, custom indicators and scripts in the terminal MetaTrader 5 answers IDE MQL5. It consists MetaEditor 5, MetaTrader 5 Strategy Tester, MetaQuotes Language 5 (MQL5) and the client terminal MetaTrader 5, which are performed by experts. Note that the tester strategies yet, but his ideology is fundamentally different from that to which we are accustomed to in MT4.
Language for programming trading strategies MQL5 has a very high speed and performance and very close to the language of C + +. In comparison with MQL4 MQL5 language faster in 4-20 times. This allows you to use more sophisticated experts that are able to handle large amount of information per unit time and, consequently, produce more accurate forecasts of price movements. In addition, new language is object-oriented, which facilitates and accelerates the development of advisers.
For a writing the expert is used a MetaEditor 5, equipped with a new system of IntelliSense. It automatically adds the various language constructs and displays a prompt for the parameters of various functions. Built-in debugger allows you to quickly find mistakes and correct them. After completion of the work and the compilation of the expert, it automatically appears in the terminal and can be immediately put into work in the market.
5 MetaTrader Strategy Tester - a powerful tool for any developer experts. With its help you can get the results of behavior Adviser stories before launching an expert in real trading account. The detailed reports on the trading system will evaluate the advisor and to identify problem areas in it, as well as the expert to compare with other developments. In addition, optimization of experts to determine the most effective options within the variables and make your advisor profitable.
Conclusions
The new platform MT5 significantly better than the previous MT4 - access to the trading floors and object-oriented programming language MQL5 Metatrader raised to a new level. Of course, yet still looks damp and there is a large part of the functional, but with time, Metatrader5 will take a worthy place in the ranking of trading platforms.
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