MetaTrader 5 (MT5) is an advanced trading platform supporting a multitude of different assets like Forex, cryptos, commodities, and so on. It is incredibly popular among Japanese traders and regulated brokers. Many programmers in Japan are employing its MQL5 programming language to develop advanced trading algorithms and we are going to explain how they are using MT5 for advanced algorithm development and trading below.
Identical syntax to C/C++
MT5 is free and offered by many reputable brokers that are regulated in Japan, making it a simple process to use the platform’s advanced features.
The main advantage of MQL5 is its similarity to the popular programming language C++, which makes it very easy to adopt and learn. The syntax of MQL5 is nearly identical and data types are also familiar, like int, double, char, bool, and string. Functions are declared and used the same way, and MQL5 also supports classes, inheritance, and other OOP (Object-Oriented Programming) objects like C++. You can also pass parameters by reference using &.
Integrated IDE
MetaEditor, which is a native integrated development environment, is built into the MT5 trading platform. This is super flexible as users can switch back and forth between MT5 and MetaEditor with just one click of a mouse or F4 button.
After programming in the MQL5 editor, users can switch back to the MT5 platform quickly and test their indicators or Expert Advisors (EAs) using the strategy editor.
No need for APIs
The pricing data is also provided directly by the broker to your MT5 platform and when testing the algorithm, there is a strategy tester plugin on MT5 to test EAs. There is no need for API calls and other functions which makes the whole process not only comfortable but also very fast.
Built-in functions
Instead of writing your own low-level hardware codes, MQL5 comes with built-in functions like:
- OrderSend() to open trades
- iMA() – to call indicators like moving averages.
- SymbolInfoDouble()
All built-in indicators come with built-in functions which makes it very comfortable to summon them in your EA.
Unlike other platforms or programming languages, developers do not need to construct candle data or anything. Instead, just apply your EA to your preferred instrument, timeframe, and chart types and it’s ready to go.
Push notifications and alerts
MQL5 comes with several alert functions which enable notifications. Users can define where their EAs will send notifications when predefined events occur. SMS, email, and platform alerts are all supported to develop powerful trading algorithms.
Faster trade execution and social features
MT5 supports even faster trade execution natively which is perfect for HFT and other algorithms that rely on fast trade execution for profits. Users can deploy their EA and be sure that it can open and close trades in milliseconds which enables them to deploy a wide range of trading strategies, including arbitrage and scalping techniques.
Trading signals and community integration
The platform integrates copy trading and community features. Traders can easily use copy trading services while developers can develop and sell their EAs to generate passive income. MT5 provides direct access to the MQL5.com community from the platform which makes it very easy to use EAs from the official store. Developers can deploy their EAs in the store to generate revenue which makes it very lucrative to learn and code robots.
Large community
Are newcomers to MT5 and MQL5? Then there is good news for you. There is a plethora of educational content provided freely on MQL5 forums where even beginners can learn MQL5 and MT5 programming. The built-in chat system enables communication with other users as well.
Free EAs and custom indicators
Another big advantage for Japanese programmers is the availability of free EAs and custom indicators. There is an online store to upload and sell or rent your algorithms, which is very flexible. The platform also supports scripts and utilities and by using a free code base, developers can quickly find complex functions and use them easily to enhance their algorithms and reduce time needed for development.
The bottom line
Japanese traders choose MT5 for algorithmic trading because it combines a familiar C/C++-like language (MQL5) with fully integrated IDE (MetaEditor) and built-in data feeds. MQL5 provides an extensive library of functions and supports OOP. As a result, Japanese developers can develop complex Expert Advisors with ease. Real-time alerts, and ultra-low latency trade execution, make MT5 perfect for scalping algorithms.
Overall, MT5’s MQL5 provides an all-in-one solution to develop, test, and sell or rent EAs quickly.
The post How Japanese Programmers Are Leveraging MT5 for Advanced Algorithmic Trading appeared first on The Crazy Programmer.
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