This article will reveal the facts behind the conversion of the expert advisors made to run on MT4 so they can also work on the MT5 platform. In other words, this article explains how to convert MQL4 code into MQL5 language code as easy as possible.
MetaTrader is the widely-used trading platform developed by MetaQuotes Software Corporation. It is a charting application designed for online trading for financial markets such as Stocks, Foreign Exchange, Futures, and more, but mostly it is offered by Forex brokers and used for Forex trading. To date, the two available versions of the platform are MetaTrader4 (MT4) and MetaTrader5 (MT5). MetaTrader became extremely popular because of its extendibility and has large catalog of default trading tools/indicators such as Bollinger Bands, CCI, MACD, Moving Averages, Stochastic Oscillator, etc. Traders at any level, from beginners to experts, can download the platform for free. MT4/MT5 have an exceptional capability to support Scripts, Custom Indicators and automated trading systems or Expert Advisors (EAs).
If real estate worldwide known slogan is “Location, location, location”, financial markets slogan should be “Strategy, strategy and strategy execution”.
No matter how you choose to trade, manually or automated, a winning strategy is vital. Trading without a clear set-up will lead sooner or later, but most of the times sooner, to financial losses. Even if your preference is to execute your trades based on expert advisors, you still have to use a strategy and be aware of the parameters that rule behind these automated applications. There are other options, of course, like buying a trading system and use it blindly, but is an “opportunity “ I don’t consider reasonable for the simple motive, that finally this choice will cost you much more than you are willing to pay and for sure your benefices will convert into losses.
All Expert Advisors created by EA Coder display a special error message code on MT4 charts when an error occurs during the open, close or modification phase of an order. If you see a message like ‘oe131’ on your chart when a new trade was supposed to be opened, you’ll know that an error has occurred.
Trading Forex is an increasingly popular choice these days, especially with the amount of information and advice available, and if you are reading this you will already be familiar with the subject. We are here to talk about Metatrader 4, and the various offline charts that can be used in conjunction with this excellent trading platform. As the most popular trading platform of all, Metatrader has become the staple choice for Forex traders, so let’s have a look at the various offline charts that the system utilizes.