Description
Quotes live in the broker's web page, your drawings live on a different charting site, and backtesting means opening a third tool — by the time you have switched between all three and confirmed the signal, the candle has closed. MetaTrader folds those jobs into one terminal: Market Watch on the left tracking bid and ask across dozens of symbols, several charts at different timeframes open in the middle, open positions and pending orders in the toolbox below, so spotting a setup and placing the order happen in the same window.
What really separates it is the automation. MQL5 is a full programming language, and an Expert Advisor written in it sits on a chart and watches the market for you. The Strategy Tester replays historical tick data for backtests and will sweep a parameter range to find the combination that actually performed, instead of you eyeballing it on the chart.
Several markets, one account: forex, stocks, futures and CFDs all trade from the same terminal, so moving between markets does not mean installing another client.
Market Watch and depth of market: every symbol's bid, ask and direction in one list, and any symbol opens into a Level II book showing where the resting orders sit.
21 timeframes: from one minute to one month, with charts tiled however you like — put the daily and the five-minute of the same symbol side by side and read them together.
Indicators and drawing tools: dozens of built-in technical indicators plus a full set of drawing objects; drop MACD or Bollinger Bands into a subwindow, drag out trendlines and Fibonacci levels.
MQL5 and Expert Advisors: write your own indicators, scripts and automated trading systems, with the editor, debugger and profiler all inside MetaEditor.
Strategy Tester and optimization: run a full backtest on historical data with an equity curve and drawdown stats, then switch to optimization to walk the parameter space, with cloud computing available to speed it up.
Four pending order types and hedging: limit, stop and stop-limit orders alongside market execution, and accounts can run netting or hedging so one symbol can hold long and short positions at once.
What really separates it is the automation. MQL5 is a full programming language, and an Expert Advisor written in it sits on a chart and watches the market for you. The Strategy Tester replays historical tick data for backtests and will sweep a parameter range to find the combination that actually performed, instead of you eyeballing it on the chart.
Features
Several markets, one account: forex, stocks, futures and CFDs all trade from the same terminal, so moving between markets does not mean installing another client.
Market Watch and depth of market: every symbol's bid, ask and direction in one list, and any symbol opens into a Level II book showing where the resting orders sit.
21 timeframes: from one minute to one month, with charts tiled however you like — put the daily and the five-minute of the same symbol side by side and read them together.
Indicators and drawing tools: dozens of built-in technical indicators plus a full set of drawing objects; drop MACD or Bollinger Bands into a subwindow, drag out trendlines and Fibonacci levels.
MQL5 and Expert Advisors: write your own indicators, scripts and automated trading systems, with the editor, debugger and profiler all inside MetaEditor.
Strategy Tester and optimization: run a full backtest on historical data with an equity curve and drawdown stats, then switch to optimization to walk the parameter space, with cloud computing available to speed it up.
Four pending order types and hedging: limit, stop and stop-limit orders alongside market execution, and accounts can run netting or hedging so one symbol can hold long and short positions at once.
