mql5

The MetaTrader 4 and MetaTrader 5 client terminals allow users to create prototypes of MQL programs using the built-in MQL Wizard. The Wizards of the two terminal versions are similar, but still have one important difference. The MetaTrader 5 Wizard can generate ready-to-use Expert Advisor, while this option is not available in the MetaTrader 4 Wizard. The reason for that is that such ready-to-use Expert Advisors are based on the Standard MQL Library classes, i.e. a set of header files available in the terminal. MetaTrader 4 also has a standard library, which however does not include no trade classes from MQL5. In particular, there are no classes for preparing and sending trading orders, calculating signals based on indicator values or price action, using trailing stop, and applying money management. All these functions constitute a necessary basis for building automatically generated Expert Advisors.

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