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| website = https://www.mql5.com/
| website = https://www.mql5.com/
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'''MQL5''' is a [[high-level programming language]], which was released by MetaQuotes with the [[MetaTrader 5]]. MQL5 was created from scratch and is not an updated version of MQL4. Syntax of MQL5 is close to [[C++]] and allows to create autotrading applications<ref>{{Cite web |last=Mitchell |first=Cory |date=June 13, 2022 |title=Autotrading Definition |url=https://www.investopedia.com/terms/a/autotrading.asp |url-status=live |access-date=July 14, 2022 |website=Investopedia}}</ref> in the style of [[object-oriented programming]] (OOP). MQL5 is designed to create automated trading solutions for [[algorithmic trading]]: these are trading robots<ref>{{Cite news |last=Mason |first=Bob |date=October 17, 2018 |title=Trading Cryptocurrencies on MT5 |work=FX Empire |url=https://www.fxempire.com/education/article/trading-cryptocurrencies-on-mt5-530739 |access-date=July 14, 2022}}</ref>, [[Expert Advisor|expert advisors]] and [[Technical indicator|technical indicators]]. The applications are created using MetaEditor [[Integrated development environment|IDE]], MQL5 Storage version control repository and [[MQL5 Community]] with free CodeBase. The MQL5 language also supports automatic trading solutions that can perform a number of functions 24 hours a day: to create and send reports, analyze news publications or create a custom graphical interface.<ref>{{Cite web |last=Rexaline |first=Shanthi |date=July 13, 2021 |title=MetaTrader 5 Review |url=https://www.benzinga.com/money/metatrader-5-review |url-status=live |access-date=July 14, 2022 |website=Benzinga}}</ref>
'''MQL5''' is a [[high-level programming language]], which was released by MetaQuotes with the [[MetaTrader 5]]. MQL5 was created from scratch and is not an updated version of MQL4. Syntax of MQL5 is close to [[C++]] and allows to create autotrading applications<ref>{{Cite web |last=Mitchell |first=Cory |date=June 13, 2022 |title=Autotrading Definition |url=https://www.investopedia.com/terms/a/autotrading.asp |url-status=live |access-date=July 14, 2022 |website=Investopedia}}</ref> in the style of [[object-oriented programming]] (OOP). MQL5 is designed to create automated trading solutions for [[algorithmic trading]]: these are trading robots<ref>{{Cite news |last=Mason |first=Bob |date=October 17, 2018 |title=Trading Cryptocurrencies on MT5 |work=FX Empire |url=https://www.fxempire.com/education/article/trading-cryptocurrencies-on-mt5-530739 |access-date=July 14, 2022}}</ref>, [[Expert Advisor|expert advisors]] and [[Technical indicator|technical indicators]]. The applications are created using MetaEditor [[Integrated development environment|IDE]], MQL5 Storage version control repository and [[MQL5 Community]] with free CodeBase. The MQL5 language also supports automatic trading solutions that can perform a number of functions 24 hours a day: to create and send reports, analyze news publications or create a custom graphical interface.<ref>{{Cite web |last=Rexaline |first=Shanthi |date=July 13, 2021 |title=MetaTrader 5 Review |url=https://www.benzinga.com/money/metatrader-5-review |url-status=live |access-date=July 14, 2022 |website=Benzinga}}</ref> MQL5 is also counted in the [[TIOBE index]] of programming languages.<ref>{{Cite web |title=TIOBE Programming Community Index Definition |url=https://www.tiobe.com/tiobe-index/programminglanguages_definition/ |url-status=live |access-date=July 14, 2022 |website=TIOBE}}</ref>


== History ==
== History ==
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== Difference between MQL4 & MQL5 ==
== Difference between MQL4 & MQL5 ==
The difference in MQL5 was the use of "black box" programming — a logically more convenient framework for developers and users of ready-made trading solutions. However, in 2014 this feature was added to MQL4, eliminating this difference between the languages. However, MetaQuotes refused to support further updates for MQL4.<ref>{{Cite web |last=Lemon |first=Adam |date=September 15, 2016 |title=MT4 vs. MT5 |url=https://www.dailyforex.com/forex-articles/2016/09/metatrader-4-vs-5-2016-review/63840 |url-status=live |access-date=July 14, 2022 |website=DailyForex}}</ref>
The difference in MQL5 was the use of "black box" programming — a logically more convenient framework for developers and users of ready-made trading solutions. However, in 2014 this feature was added to MQL4, eliminating this difference between the languages. However, MetaQuotes refused to support further updates for MQL4.<ref>{{Cite web |last=Lemon |first=Adam |date=September 15, 2016 |title=MT4 vs. MT5 |url=https://www.dailyforex.com/forex-articles/2016/09/metatrader-4-vs-5-2016-review/63840 |url-status=live |access-date=July 14, 2022 |website=DailyForex}}</ref> MQL5 is considered safer and more reliable due to regular updates of MetaQuotes.<ref>{{Cite news |last=Grossbard |first=Justin |date=October 16, 2020 |title=How COVID-19 Forced Forex Software Providers to Improve Security |work=Infosecurity Magazine |url=https://www.infosecurity-magazine.com/blogs/ovid19-forex-software-security/ |access-date=July 14, 2022}}</ref>


Despite the development of MQL5, some traders and brokers continue to use MQL4 and MetaTrader 4. Any program written in MQL4 can be compiled and run on MetaTrader 4, as well as on MetaTrader 5: however, backward compatibility with MQL5 is not supported.<ref>{{Cite book |last=S.T. Lee |first=Raymond |title=Quantum Finance: Intelligent Forecast and Trading Systems |publisher=[[Springer Publishing]] |year=2020 |isbn=978-9813297982 |edition=1st |location=New York |pages=3 |language=English}}</ref>
Despite the development of MQL5, some traders and brokers continue to use MQL4 and MetaTrader 4. Any program written in MQL4 can be compiled and run on MetaTrader 4, as well as on MetaTrader 5: however, backward compatibility with MQL5 is not supported.<ref>{{Cite book |last=S.T. Lee |first=Raymond |title=Quantum Finance: Intelligent Forecast and Trading Systems |publisher=[[Springer Publishing]] |year=2020 |isbn=978-9813297982 |edition=1st |location=New York |pages=3 |language=English}}</ref>

Revision as of 12:37, 14 July 2022

MQL5
MQL5 logo
ParadigmHigh-level programming language, object-oriented
FamilyC++
DeveloperMetaQuotes
OSCross-platform
Filename extensions.mq5,.ex5,.mqh
Websitehttps://www.mql5.com/
Influenced by
C++

MQL5 is a high-level programming language, which was released by MetaQuotes with the MetaTrader 5. MQL5 was created from scratch and is not an updated version of MQL4. Syntax of MQL5 is close to C++ and allows to create autotrading applications[1] in the style of object-oriented programming (OOP). MQL5 is designed to create automated trading solutions for algorithmic trading: these are trading robots[2], expert advisors and technical indicators. The applications are created using MetaEditor IDE, MQL5 Storage version control repository and MQL5 Community with free CodeBase. The MQL5 language also supports automatic trading solutions that can perform a number of functions 24 hours a day: to create and send reports, analyze news publications or create a custom graphical interface.[3] MQL5 is also counted in the TIOBE index of programming languages.[4]

History

In 2010 the public beta-testing of the MetaTrader 5 trading platform started. MT5 has expanded trading opportunities with the use of trading robots and expert advisors for management and analytics of trading accounts without human intervention.[5] The key innovation is the new MQL5 language used for programming trading strategies. The new version of MQL was created from scratch as a new object-oriented programming language. New types of data, events and chart operations have been added to MQL5. The introduction of the MT5 platform started slowly because of the complexity of the transition to a new language for brokers. Due to regulatory changes, the transition to MT5 and MQL5 accelerated.[6]

In July 2014, MetaQuotes revealed the possibility of fulfilling freelance orders for developers of trading solutions in the 'Jobs' section of the MQL5 Community, and receiving a fee through the internal payment system.

At the end of October 2015, an MT5 update was released, aimed at improving MQL5, related to fixing template operation.[7]

In 2017 MetaQuotes released updates for MT5, aimed at creating synthetic financial instruments and simplifying the creation of applications for algorithmic trading. In addition to the main MQ5 program file, a separate MQPROJ file is used, which stores the program settings, compilation parameters, information on all the files used. MetaQuotes have also added the feature for distributed teamwork through the MQL5 Storage and the MQL5 Cloud Protector mechanism for additional protection of trading robots created in MQL5.[8]

As of February 2022, more than 21,000 ready-made trading solutions created by developers in MQL5 and MQL4 have been published in the MQL5 Marketplace.[9]

Syntax

111

Difference between MQL4 & MQL5

The difference in MQL5 was the use of "black box" programming — a logically more convenient framework for developers and users of ready-made trading solutions. However, in 2014 this feature was added to MQL4, eliminating this difference between the languages. However, MetaQuotes refused to support further updates for MQL4.[10] MQL5 is considered safer and more reliable due to regular updates of MetaQuotes.[11]

Despite the development of MQL5, some traders and brokers continue to use MQL4 and MetaTrader 4. Any program written in MQL4 can be compiled and run on MetaTrader 4, as well as on MetaTrader 5: however, backward compatibility with MQL5 is not supported.[12]

MQL5 programs

  • Expert advisor is an algorithmic trading solution which can open, modify and close orders. Beginners and experienced traders can create or buy automated EAs with the possibility of back-testing on historical data.[13]
  • Indicator displays technical analysis of data on the chart using lines, histograms, arrows, bars/candles or chart objects.[14]
  • Script is a program designed for a specific task. After attaching the script to the chart, it is executed only once.

File extensions

  • MQ5 (.mq5) — MetaEditor program file that can be opened with a text editor. MQ5 contains the source code of applications written in MQL5 like expert advisors, technical indicators, libraries or scripts.
  • EX5 (.ex5) — compiled file of an executable program. These are binary files that cannot be opened or edited.
  • MQH (.mqh) — include file that contains classes functions and variables for use in MQL5 programs.
  • Expert settings file (.set) — file with trade parameters for Expert Advisor.[14]

References

  1. ^ Mitchell, Cory (June 13, 2022). "Autotrading Definition". Investopedia. Retrieved July 14, 2022.{{cite web}}: CS1 maint: url-status (link)
  2. ^ Mason, Bob (October 17, 2018). "Trading Cryptocurrencies on MT5". FX Empire. Retrieved July 14, 2022.
  3. ^ Rexaline, Shanthi (July 13, 2021). "MetaTrader 5 Review". Benzinga. Retrieved July 14, 2022.{{cite web}}: CS1 maint: url-status (link)
  4. ^ "TIOBE Programming Community Index Definition". TIOBE. Retrieved July 14, 2022.{{cite web}}: CS1 maint: url-status (link)
  5. ^ Singal, Siswandy; Ulaen, Harol; Chitra Laoh, Lidya; Ronald Sumanti, Elvis (2021). Automated Forex Trading System Using MQL5 Language. Indonesia: Prosiding Seminar Nasional CORISINDO. p. 523. ISBN 978-623-98018-2-3.
  6. ^ Golovtchenko, Victor (October 30, 2018). "TRAction Adds Reporting Integration as MT5 Adoption Rises". Finance Magnates. Retrieved July 14, 2022.
  7. ^ Nikolova, Maria (October 30, 2015). "MT5 build 1210 offers enhanced Depth of Market". LeapRate. Retrieved July 14, 2022.
  8. ^ Kirilova, Valentina (December 22, 2017). "MetaTrader 5 adds new tools – synthetic instruments, shared projects and MQL5 Cloud Protector". LeapRate. Retrieved July 14, 2022.
  9. ^ Nikolova, Maria (February 15, 2022). "Algo trading community MQL5.com reports sales of 430,000 ready-made solutions". FX News Group. Retrieved July 14, 2022.
  10. ^ Lemon, Adam (September 15, 2016). "MT4 vs. MT5". DailyForex. Retrieved July 14, 2022.{{cite web}}: CS1 maint: url-status (link)
  11. ^ Grossbard, Justin (October 16, 2020). "How COVID-19 Forced Forex Software Providers to Improve Security". Infosecurity Magazine. Retrieved July 14, 2022.
  12. ^ S.T. Lee, Raymond (2020). Quantum Finance: Intelligent Forecast and Trading Systems (1st ed.). New York: Springer Publishing. p. 3. ISBN 978-9813297982.
  13. ^ Erazo, Felipe (April 27, 2022). "Vantage Adds MetaTrader 5 to Its Platforms Offering". Finance Magnates. Retrieved July 14, 2022.
  14. ^ a b Young, Andrew (2013). Expert Advisor Programming for MetaTrader 5 (1st ed.). Nashville, TN: Edgehill Publishing. p. 3. ISBN 978-0982645925.
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