What is MQL? MQL (MetaQuotes Language) is a programming language used to create automated trading programs (EAs) and custom indicators that operate on the MetaTrader platform. MQL4 is used for MetaTrader 4, while MQL5 is used for MetaTrader 5.
Overview of MQL4 and MQL5 MQL4: MQL4 is the programming language for MetaTrader 4, first introduced in 2005. It is used to create EAs, custom indicators, and scripts.
MQL5: MQL5 is the programming language for MetaTrader 5, introduced in 2010. It has more advanced features compared to MQL4 and supports trading in a wide range of financial instruments.
Features as a Programming Language Features of MQL4:
- Simple and Easy to Learn: The syntax is similar to the C language, making it relatively easy for beginners to learn.
- Rich Library: Due to its widespread use among traders, there are many sample codes and libraries available online.
- Primarily Focused on Forex Trading: MQL4 is mainly used for Forex trading and is supported by many brokers.
Features of MQL5:
- Advanced Features: Supports object-oriented programming (OOP), allowing for the creation of more complex programs.
- Multi-Asset Support: Supports trading not only in Forex but also in stocks, futures, options, and other financial instruments.
- Faster Backtesting: The multi-threading capability significantly speeds up backtesting.
Understanding and effectively using the MQL language enables the creation of automated trading programs and the optimization of trading activities. Even beginners can improve their skills step by step by mastering the basics.