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Why do people still use MT4 instead of MT5?
Posted: Thu Jun 23, 2022 3:18 pm
by Jedidiah
Isn't the function of MT5 more complete than that of MT4?
The timeline is also more detailed than MT4
I want to know what everyone thinks
Re: Why do people still use MT4 instead of MT5?
Posted: Thu Jun 23, 2022 3:46 pm
by Ogee
honje19960321 wrote: Thu Jun 23, 2022 3:18 pm
Isn't the function of MT5 more complete than that of MT4?
The timeline is also more detailed than MT4
I want to know what everyone thinks
Metaquotes is a victim of it's own success. The MT4 following is so huge with a massive number of coders, users and indicators dedicated to MT4 means that Metaquotes simply can't just pull the plug on it. MT5 just sits there waiting still after nearly 10 years.
Re: Why do people still use MT4 instead of MT5?
Posted: Thu Jun 23, 2022 4:29 pm
by Jedidiah
Ogee wrote: Thu Jun 23, 2022 3:46 pm
Metaquotes is a victim of it's own success. The MT4 following is so huge with a massive number of coders, users and indicators dedicated to MT4 means that Metaquotes simply can't just pull the plug on it. MT5 just sits there waiting still after nearly 10 years.
It looks like MT5 may never go mainstream.
tradingview can replace it
Re: Why do people still use MT4 instead of MT5?
Posted: Thu Jun 23, 2022 4:38 pm
by Ogee
honje19960321 wrote: Thu Jun 23, 2022 4:29 pm
It looks like MT5 may never go mainstream.
tradingview can replace it
The problem for MT5 is that though there are auto code converters (mt4 > mt5) the coders here will tell you that they don't usually work and that each EA/indicator code has to be re-written from scratch.
Presumably given time the number of EAs/indactors available for MT5 will be enough for most people.
Tradingview has it's own problems not least that to get full functionality and broker hook up you need to pay a monthly subscription (though sometimes the broker will pay).
Re: Why do people still use MT4 instead of MT5?
Posted: Fri Jun 24, 2022 10:27 pm
by moey_dw
honje19960321 wrote: Thu Jun 23, 2022 3:18 pm
Isn't the function of MT5 more complete than that of MT4?
bro........... i still favour mt4 because it's lightweight & i know it like the back of my hand
i'm happy with mt4 and dont wanna use any other mt5 if i dont need too plus there is just so many scripts & codes for mt4 & some of those i really need which mt5 still doesn't have yet!!!
to me mt5 only has real volume & nice shaded color filling on indicators.......... but who cares
TICK volume & REAL volume are always very close
even though mladen guy has been making effort to release lots of mt5 stuffs now on mql5 site i just like the feel of mt4 & this is how many of us feel
Re: Why do people still use MT4 instead of MT5?
Posted: Fri Jun 24, 2022 11:15 pm
by Jedidiah
moey_dw wrote: Fri Jun 24, 2022 10:27 pm
bro........... i still favour mt4 because it's lightweight & i know it like the back of my hand
i'm happy with mt4 and dont wanna use any other mt5 if i dont need too plus there is just so many scripts & codes for mt4 & some of those i really need which mt5 still doesn't have yet!!!
to me mt5 only has real volume & nice shaded color filling on indicators.......... but who cares
TICK volume & REAL volume are always very close
even though mladen guy has been making effort to release lots of mt5 stuffs now on mql5 site i just like the feel of mt4 & this is how many of us feel
In this case, Metaquotes should introspect. MT4 needs more new versions and new content. For example there are more time charts
Re: Why do people still use MT4 instead of MT5?
Posted: Sat Jun 25, 2022 12:53 am
by HeavLeighGill
I'm more familiar with MT4 and feel like it has everything I need, so there's no pressure to switch. My broker also offers MT4 so I plan to stick with it. If they ever forced a switch to MT5, that's when I'd also decide to make the switch, but I doubt that'll happen with MT4's popularity.
Re: Why do people still use MT4 instead of MT5?
Posted: Thu Sep 29, 2022 1:27 am
by sebking1986
MT4 does what people need it to. There is enough to overcomplicate in trading without the trading platform being one of them. Most simply have no need for the extras that MT5 provides.
Re: Why do people still use MT4 instead of MT5?
Posted: Wed Nov 02, 2022 8:52 pm
by Swiss_cheese
sebking1986 wrote: Thu Sep 29, 2022 1:27 am
MT4 does what people need it to. There is enough to overcomplicate in trading without the trading platform being one of them. Most simply have no need for the extras that MT5 provides.
Exactly. I tried MT5, but found I wasn't using any of the extra features so I went back
Re: Why do people still use MT4 instead of MT5?
Posted: Wed Nov 02, 2022 11:32 pm
by Jakethetrader
MT4 is specifically for Forex traders, and its features and functionality reflect this. As a result, in my opinion, MT4 is the preferred software platform for Forex traders.