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MQL5 Market + MQL5 Wizard + Testing Quality

April 27, 2011 by

Among other useful changes and bugfixes, MetaTrader 5 update to build 439 introduced two completely new features and one good old feature back from MT4:

MQL5 Market is an App Store of MetaTrader — you can buy (or get for free) expert advisors, scripts and indicators developed by other traders and MQL coders. Currently there are only 6 applications that serve mostly demonstrative purpose. Five are free to download and use: Snake game, 2 trading panels, Elliott Wave mark-up tool and Market Profile indicator. One is a paid Moon Phase indicator that costs only $1. Unfortunately, it’s not yet possible to download or buy anything from this Market. Nevertheless, it’s a potentially very useful feature that will definitely get developed further soon.

MQL5 Wizard is an ultimate tool for expert advisor generation without coding. Traders that aren’t acquainted with MQL5 can now create their own trading robots simply by combining any of the 64 different signals available in the latest version of MQL5 Wizard. If you’ve ever dreamed of creating your own Forex expert advisor based on, let’s say Parabolic SAR, DeMarket and Triple Moving Average with some intraday time filtering, but were to lazy to study MQL coding, now it’s pretty possible.

Testing Quality metric was present in MT4 Strategy Tester but not in MT5, until the latest build. Now you can evaluate the quality of your back-testing and consider your strategy profitability more precisely. It was called “Modeling Quality” in MT4, in MetaTrader 5 it’s called “History Quality”.

If you want to comment on the latest features of the MetaTrader 5 Forex platform, please feel free to reply in the commentary form below.

4 Responses to “MQL5 Market + MQL5 Wizard + Testing Quality”

  1. Jay Molina

    I have been thinking about trying MT5 I am just used to Mt4. I also created my custom indicators on mql4 so I am still thinking about it.. have you ever tried it yourself? Do you use mt5?


    admin Reply:

    Yes, I test my new strategies mainly in MT5.


  2. Bill897

    Where are the MQL5 Brokers?


    admin Reply:

    В you mean MT5 brokers? Many MT4 brokers offer demo MT5 accounts, while InstaForex and LiteForex offer real MT5 accounts.


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