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What is Metaquotes Language 5 or MQL5?
MetaQuotes Language 5 (MQL5) is a powerful programming language designed for developing trading algorithms, custom indicators, scripts, and automated trading strategies within the MetaTrader 5 (MT5) trading platform. Developed by MetaQuotes Software Corp., MQL5 serves as the scripting language for MT5, providing traders and developers with a versatile toolset to create and implement complex trading strategies.
Key Features of MQL5:
1. Algorithmic Trading: MQL5 is specifically designed to enable algorithmic or automated trading. Traders can create Expert Advisors (EAs), which are automated trading systems that execute predefined trading strategies without manual intervention. These EAs can analyze market conditions, place orders, and manage trades based on pre-programmed rules.
2. Custom Indicators: Traders can develop custom technical indicators using MQL5 to enhance their analytical capabilities. These indicators can be tailored to specific trading strategies, allowing for a more personalized approach to market analysis.
3. Scripts: MQL5 supports the creation of scripts, which are small programs designed to perform specific tasks in the MetaTrader environment. Scripts are useful for executing one-time actions, such as opening or closing multiple trades simultaneously.
4. Object-Oriented Programming (OOP): MQL5 supports object-oriented programming principles, making it a more flexible and modular language. This facilitates the development of complex trading systems with reusable and organized code structures.
5. Built-in Functions: MQL5 comes with a comprehensive set of built-in functions and libraries, covering a wide range of financial and trading operations. These functions simplify the development process by providing ready-made solutions for common tasks, such as order execution, position management, and technical analysis.
6. Integration with MetaTrader 5: MQL5 is tightly integrated with the MetaTrader 5 platform, allowing seamless communication between the trading scripts and the trading environment. Traders can easily access real-time market data, historical price information, and execute trades directly from MQL5 programs.
7. Backtesting and Optimization: Traders can backtest their MQL5 programs using historical data to assess the performance of their trading strategies under various market conditions. The platform also allows for optimization to fine-tune parameters for optimal results.
8. Community Support: The MQL5 community provides a platform for traders and developers to share knowledge, exchange ideas, and collaborate on the development of trading tools. The MetaTrader Market within the community offers a marketplace for buying and selling ready-made indicators, EAs, and other MQL5 programs.
While MQL5 is a powerful tool for algorithmic trading, it does require a certain level of programming expertise. Traders with programming skills can leverage the capabilities of MQL5 to create sophisticated and customized trading solutions. For those without programming knowledge, the MetaEditor integrated development environment within MT5 provides a user-friendly interface to help develop and modify scripts, indicators, and EAs.
In summary, MetaQuotes Language 5 (MQL5) is a versatile programming language designed for developing trading algorithms and automated trading strategies within the MetaTrader 5 platform. It empowers traders to create customized solutions, automate trading processes, and enhance analytical capabilities, contributing to a more efficient and personalized trading experience.
20.04.2021, 17:08
lallyges
My first post!
What is Metaquotes Language 5 or MQL5?
MetaQuotes Language 5 (MQL5) is a specialized high-level object-oriented language for programming that enables building trading robots and technical indicators. It is based on the well-known and widely used C++ programming language. MQL5, on the other hand, thrives in financial market programming difficulties owing to its limited specialization.
MQL5 has a number of features for analyzing quotes, as well as built-in technical indicators, functions, and software that can assist you in managing your trading positions. Both analytics and trade activities can be processed fully by these MQL5 applications thanks to the programming language's capabilities.
MQL5 systems have a variety of characteristics and purposes:
Trading Robot
A Trading Robot is a computer program that analyzes prices and trades in financial markets. Trading robots will assess the business condition and, depending on that assessment, conduct the trading operations that have been delegated to them. Trading robots with this level of comprehensiveness will fully replace humans when trading in financial markets.
The 2006-2012 Automated Trading Championships obviously show the strength and self-sufficiency of trading robots. Hundreds of Expert Advisors evaluated different industry conditions and conducted trading deals over the course of three months during each of the competitions. In contrast to a human, trading robots have shown their trading and analytical advantages.
Custom Indicator
A Custom Indicator is a type of technical indicator that is designed specifically for analyzing currencies, stocks, and other asset groups. This type of instrument, unlike built-in technical indicators, can be generated by traders and run any algorithm. Technical indicators are unable to conduct trades because they lack access to trading features.
Script
A script is a computer program that is programmed to carry out certain tasks at a specific time. Both analytical and trading features are also accessible via these systems. Scripts, unlike Expert Advisors, only carry out a single trading transaction.
Library
A library is a set of functions that have been customized. Its aim is to store and distribute frequently used components of custom programs.
Custom applications, which have been developed using MQL5, greatly improve traders' ability by using the MetaTrader 5 trading platform.
New Trading Features of MQL5
Greater Operation Speed
Compared with the MQL4, the pace of execution of the MQL5 code has improved 4-20 fold! Since the speed of execution has almost surpassed that of the C++ language, MQL5 does not need the use of third-party DLLs to speed up calculations. As a result, the application's protection is enhanced by the lack of DLL.
C++-like properties
The MQL5 language has a syntax that is very similar to C++, which is one of the most widely used programming languages. Therefore it is simple to read, and you can quickly convert programs from other modern programming languages into MQL5. MQL5 is an object-oriented language that supports encapsulation and extensibility of types, inheritance, polymorphism, overloading, and virtual functions, among other features.
OpenCL Support
MQL5 has native support for OpenCL that can be enabled with a single click. To access all of its advantages you do not need third-party libraries. Simply use MQL5 functions that have been specifically designed for this purpose. On video cards that support OpenCL 1.1 or higher, the OpenCL programming language is used to perform computations.
Hundreds of small specialized processors are embedded in modern video cards, allowing them to perform basic arithmetic operations on several data sources at the same time. The OpenCL programming language organizes parallel computing and boosts performance for a specific set of tasks.
More Features of the new MQL5 language
Because of its user-friendly gui, a range of technical analysis tools, and the embedded MQL4 language, the latest edition of the trading platform is the most well-known among traders. MQL4 was given the C language syntax in its fourth version, enabling users to create professional-level algorithmic trading programs. At the same time, traders did not have to put in much effort to adapt to the new language, enabling MQL4 to take the lead in terms of the number of indicators and trading robots built.
Let us congratulate you on your wise decision and provide you with a quick tour of the MQL5 fifth generation language:
The MQL5 language is extremely fast
MQL5 programs can run up to 20 times faster than MQL4 programs, and their execution speed is comparable to that of C++ applications. The execution results of standard tests on MQL4, MQL5, and C++ show this. The smaller the bar, the less time expended on execution (in milliseconds) and the higher the outcome. The tests were performed on a Windows 10 (build 17763) x64 system with a Xeon E5-2630 v4 processor running at 2.20GHz and 65457 MB of RAM.
The latest asynchronous trading operations give you access to algorithmic trading capabilities previously only open to a select group of experienced traders. You don't need third-party links to share protocols if you're developing MQL5 robots. Besides, you do not need to position your terminals as close to a broker as possible. Simply rent a VPS with built-in capabilities and steer your EA to trade there from the terminal. Low network prices, high Depth of Market refresh speeds, and asynchronous order sending both help to speed up trading activities by a factor of hundreds. In intraday trade, such acceleration can be a significant factor.
Event-based trading robots
The MQL5 programming language has been entirely event-driven. The whole trading logic will now be focused solely on the processing of incoming events. The OnTick() handler helps you to evaluate the tick flow for some mark, collect an entry signal and give an asynchronous trading message. The program execution begins after a fraction of a millisecond, and you are able to execute a transaction on another symbol. Since data on trading activities is received and dealt in another handler — OnTradeTransaction — you don't have to wait for the end of the activity (). This makes it possible to write trading algorithms that are as reliable and efficient as possible.
Events may be used for a variety of purposes, including trading:
Testing multi-currency EAs
MQL5 not only allows you to create EAs that exchange several symbols at the same time, but it also allows you to test them using the strategy tester. When operating in the tester, the Sleep() feature, timer events, and special events for working in the optimization mode are done correctly. In visual mode, EAs can be debugged and profiled.
Decompiling EX5 to MQ5
.EX5 and .MQ5 are two different extensions for the same thing. The MetaTrader 5 trading platform makes use of MQ5 files. For online trading in the FOREX industry, these are important. The only difference is that . EX files are executable files that can be used to perform various tasks. Trading robots (Expert Advisors, EA), markers, and scripts are all included in MQ5 archives. The Meta Editor program can be used to open and edit MQ5 files. The EX5 disk, on the other hand, cannot be changed.
For a variety of factors, the availability of source code is vital in this situation. Any of them are as follows:
Trading robot creators often fail to provide source code for their products. A decompilation can be useful in these situations. To put it another way, you must recover the source code from the .EX5 file and save it in the .MQ5 format. They will be able to assist you with this project.
During the compilation process, the Meta Editor 5 program employs optimization and code compression. Until compilation, code obfuscation is also used, which greatly complicates the task at hand. Additionally, MQ5 Market offerings are encrypted. The effectiveness of traditional reengineering approaches like disassembly and static analysis is hampered by these impediments.
It is now necessary to work directly with memory dumps, use the terminal debugger, and overcome the limitations of runtime virtualization in order to fully restore source code.
This careful work necessitates a substantial amount of time and commitment. However, with the right amount of effort, achievement is possible.
Taking all into account, it's obvious that a standalone EX5 to MQ5 decompiler is currently unlikely to create. The good news is that a dependable web tool for .EX5 decompilation is now available. That's precisely what they've done.
If you’re not a professional programmer and doesn’t know how to decompile you can visit this website and clearly follow the instructions stated.
https://ex5tomq5.com/
If you want to learn more about Metatrader or trading in general, you can visit Instaforex.
MetaQuotes Language 5 (MQL5) is a specialized high-level object-oriented language for programming that enables building trading robots and technical indicators. It is based on the well-known and widely used C++ programming language. MQL5, on the other hand, thrives in financial market programming difficulties owing to its limited specialization.
MQL5 has a number of features for analyzing quotes, as well as built-in technical indicators, functions, and software that can assist you in managing your trading positions. Both analytics and trade activities can be processed fully by these MQL5 applications thanks to the programming language's capabilities.
MQL5 systems have a variety of characteristics and purposes:
Trading Robot
A Trading Robot is a computer program that analyzes prices and trades in financial markets. Trading robots will assess the business condition and, depending on that assessment, conduct the trading operations that have been delegated to them. Trading robots with this level of comprehensiveness will fully replace humans when trading in financial markets.
The 2006-2012 Automated Trading Championships obviously show the strength and self-sufficiency of trading robots. Hundreds of Expert Advisors evaluated different industry conditions and conducted trading deals over the course of three months during each of the competitions. In contrast to a human, trading robots have shown their trading and analytical advantages.
Custom Indicator
A Custom Indicator is a type of technical indicator that is designed specifically for analyzing currencies, stocks, and other asset groups. This type of instrument, unlike built-in technical indicators, can be generated by traders and run any algorithm. Technical indicators are unable to conduct trades because they lack access to trading features.
Script
A script is a computer program that is programmed to carry out certain tasks at a specific time. Both analytical and trading features are also accessible via these systems. Scripts, unlike Expert Advisors, only carry out a single trading transaction.
Library
A library is a set of functions that have been customized. Its aim is to store and distribute frequently used components of custom programs.
Custom applications, which have been developed using MQL5, greatly improve traders' ability by using the MetaTrader 5 trading platform.
New Trading Features of MQL5
Greater Operation Speed
Compared with the MQL4, the pace of execution of the MQL5 code has improved 4-20 fold! Since the speed of execution has almost surpassed that of the C++ language, MQL5 does not need the use of third-party DLLs to speed up calculations. As a result, the application's protection is enhanced by the lack of DLL.
C++-like properties
The MQL5 language has a syntax that is very similar to C++, which is one of the most widely used programming languages. Therefore it is simple to read, and you can quickly convert programs from other modern programming languages into MQL5. MQL5 is an object-oriented language that supports encapsulation and extensibility of types, inheritance, polymorphism, overloading, and virtual functions, among other features.
OpenCL Support
MQL5 has native support for OpenCL that can be enabled with a single click. To access all of its advantages you do not need third-party libraries. Simply use MQL5 functions that have been specifically designed for this purpose. On video cards that support OpenCL 1.1 or higher, the OpenCL programming language is used to perform computations.
Hundreds of small specialized processors are embedded in modern video cards, allowing them to perform basic arithmetic operations on several data sources at the same time. The OpenCL programming language organizes parallel computing and boosts performance for a specific set of tasks.
More Features of the new MQL5 language
Because of its user-friendly gui, a range of technical analysis tools, and the embedded MQL4 language, the latest edition of the trading platform is the most well-known among traders. MQL4 was given the C language syntax in its fourth version, enabling users to create professional-level algorithmic trading programs. At the same time, traders did not have to put in much effort to adapt to the new language, enabling MQL4 to take the lead in terms of the number of indicators and trading robots built.
Let us congratulate you on your wise decision and provide you with a quick tour of the MQL5 fifth generation language:
- Change colors, create control panels, show custom icons, and pass price charts outside the terminal directly from a MQL5 program.
- Try indicators with 12 new drawing types, 512 buffers, and direct value estimation with indexing from the past to the future.
- Expert Advisors may be debugged in the multi-currency tester as well as on maps. The tester's trading rationale has been updated to reflect that of online trading, allowing you to test a combination strategy on all of the necessary currency pairs in a single pass.
The MQL5 language is extremely fast
MQL5 programs can run up to 20 times faster than MQL4 programs, and their execution speed is comparable to that of C++ applications. The execution results of standard tests on MQL4, MQL5, and C++ show this. The smaller the bar, the less time expended on execution (in milliseconds) and the higher the outcome. The tests were performed on a Windows 10 (build 17763) x64 system with a Xeon E5-2630 v4 processor running at 2.20GHz and 65457 MB of RAM.
The latest asynchronous trading operations give you access to algorithmic trading capabilities previously only open to a select group of experienced traders. You don't need third-party links to share protocols if you're developing MQL5 robots. Besides, you do not need to position your terminals as close to a broker as possible. Simply rent a VPS with built-in capabilities and steer your EA to trade there from the terminal. Low network prices, high Depth of Market refresh speeds, and asynchronous order sending both help to speed up trading activities by a factor of hundreds. In intraday trade, such acceleration can be a significant factor.
Event-based trading robots
The MQL5 programming language has been entirely event-driven. The whole trading logic will now be focused solely on the processing of incoming events. The OnTick() handler helps you to evaluate the tick flow for some mark, collect an entry signal and give an asynchronous trading message. The program execution begins after a fraction of a millisecond, and you are able to execute a transaction on another symbol. Since data on trading activities is received and dealt in another handler — OnTradeTransaction — you don't have to wait for the end of the activity (). This makes it possible to write trading algorithms that are as reliable and efficient as possible.
Events may be used for a variety of purposes, including trading:
- obtaining Depth of Market updates, analyzing price/volume changes in trade demands, and trading based on analysis results;
- developing auxiliary analytical tools and control panels for MQL5 programs;
- handling optimization and simulation of collected data in real time
Testing multi-currency EAs
MQL5 not only allows you to create EAs that exchange several symbols at the same time, but it also allows you to test them using the strategy tester. When operating in the tester, the Sleep() feature, timer events, and special events for working in the optimization mode are done correctly. In visual mode, EAs can be debugged and profiled.
Decompiling EX5 to MQ5
.EX5 and .MQ5 are two different extensions for the same thing. The MetaTrader 5 trading platform makes use of MQ5 files. For online trading in the FOREX industry, these are important. The only difference is that . EX files are executable files that can be used to perform various tasks. Trading robots (Expert Advisors, EA), markers, and scripts are all included in MQ5 archives. The Meta Editor program can be used to open and edit MQ5 files. The EX5 disk, on the other hand, cannot be changed.
For a variety of factors, the availability of source code is vital in this situation. Any of them are as follows:
- It makes it possible for you to comprehend the EA's output logic and algorithm. It's significant because you're allowing this software to handle your finances.
- You may change the source code of trading robots to adapt their output logic to meet changing industry demands.
- It enables you to delete developer-imposed limits such as the connection to a particular account or the EA's short running time.
Trading robot creators often fail to provide source code for their products. A decompilation can be useful in these situations. To put it another way, you must recover the source code from the .EX5 file and save it in the .MQ5 format. They will be able to assist you with this project.
During the compilation process, the Meta Editor 5 program employs optimization and code compression. Until compilation, code obfuscation is also used, which greatly complicates the task at hand. Additionally, MQ5 Market offerings are encrypted. The effectiveness of traditional reengineering approaches like disassembly and static analysis is hampered by these impediments.
It is now necessary to work directly with memory dumps, use the terminal debugger, and overcome the limitations of runtime virtualization in order to fully restore source code.
This careful work necessitates a substantial amount of time and commitment. However, with the right amount of effort, achievement is possible.
Taking all into account, it's obvious that a standalone EX5 to MQ5 decompiler is currently unlikely to create. The good news is that a dependable web tool for .EX5 decompilation is now available. That's precisely what they've done.
If you’re not a professional programmer and doesn’t know how to decompile you can visit this website and clearly follow the instructions stated.
https://ex5tomq5.com/
If you want to learn more about Metatrader or trading in general, you can visit Instaforex.
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