A coding newbie: go with MQL4 or MQL5 for indicator-based EA?

#1
Hi all,

I'm a programming newbie, but I am quite experienced in forex trading. I'm currently learning to code to create an automated system based on a strategy that uses several MT5 indicators. My strategy works very well on the daily chart which can be executed manually each day but I want to automate testing, optimization and execution for lower timeframes. I am deep into the book "Expert Advisor Programming for MetaTrader 5" and the MQL5 language seems to be very low level for the purpose of coding indicator-based algos. I have read that MQL4 is much more user friendly, designed more for retail traders than hardcore programmers. My strategy is just based on indicator rules, although the logic of these rules is quite complex, and it also includes trade management tactics such as splitting trades into multiple parts that behave differently depending on what happens after, ie scaling in and out of trades.

Based purely on the language would you say it's worth it going through the higher difficulty of learning and coding in MQL5 or should I go with MQL4 instead? How much harder do you think it would be to code something like this in MQL5? I've found some equivalents of the indicators I'm using for MT4 but not exact, so that is also a consideration.

Thanks


Re: A coding newbie: go with MQL4 or MQL5 for indicator-based EA?

#2
amaze2n wrote:
Fri Feb 14, 2020 12:51 pm
Hi all,

I'm a programming newbie, but I am quite experienced in forex trading. I'm currently learning to code to create an automated system based on a strategy that uses several MT5 indicators. My strategy works very well on the daily chart which can be executed manually each day but I want to automate testing, optimization and execution for lower timeframes. I am deep into the book "Expert Advisor Programming for MetaTrader 5" and the MQL5 language seems to be very low level for the purpose of coding indicator-based algos. I have read that MQL4 is much more user friendly, designed more for retail traders than hardcore programmers. My strategy is just based on indicator rules, although the logic of these rules is quite complex, and it also includes trade management tactics such as splitting trades into multiple parts that behave differently depending on what happens after, ie scaling in and out of trades.

Based purely on the language would you say it's worth it going through the higher difficulty of learning and coding in MQL5 or should I go with MQL4 instead? How much harder do you think it would be to code something like this in MQL5? I've found some equivalents of the indicators I'm using for MT4 but not exact, so that is also a consideration.

Thanks
For me mt4 and for now working on learning mt5 and not as comfortable with mt5 yet but getting there. MOL5 will probably be around for awhile, metatrader is supposedly trying to do away with mt4 but seems it is taking longer than they anticipated. There are a lot more possibilities with mt5 with indicators and EA's and if your just starting out maybe best to learn mt5 but that's just my opinion.
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