Suggestions for Metatrader 5 from a forex trader who is using the Metatrader Platform since 2002:

"I've been using MetaTrader since 2002, I would welcome if you could add these things whether they're changes to MT operability, functions, or architecture. They are all important and for more experienced and daily users these changes I believe would help and would make our traders life easier. If people like to work with MT, these are the missing things that could make Metatrader 5 much better trading tool.

TERMINAL WINDOW

- additional configurable columns in Terminal - profit in pips, profit in USD (both at a same time);
- close all trades... this option has been expanded by scripts, but I think it should be part of MT as well;
- delete all orders.

MARKET WATCH
- one-click order execution (could be enabled from options), without having to bring up Order Window;
- ability to resize order window;
- something like a template? or two variants of market watch, where first would be same as is now and second would be modified format version - in case broker uses 4/5 digits, 4th/5th digit would be drawn in half size font of previous 3/4 digits.

HISTORY CENTER
- Tick data logging and saving;
- All data download from broker (now I have to hit PgUp to scroll back a chart on 1min chart);
- Download button in history center fixed so it downloads data from the actuall broker by default and xxx.xxx.xxx.xxx server.

CHARTS
- to be able to modify default Metatrader 5 chart settings (grid color etc...) without having to reapply template;
- automatic built-in period/tick conversion to all timeframes (maybe it could be done with another improved script or it's option);
- to be able drag indicators on the charts from one to second window, or reorganize indicators order somehow;
- besides # of bars on the chart set date and time since when chart has to load the data or since when they have to be stored.

BACKTESTER
- to be able to backtest several timeframes in a single backtest if system uses multitimeframe entry/exit conditions;
- to be able to backtest several systems in a single backtest (simply in each EA setting, there could be option... checkmark to include in the backtest);
- to be able to backtest several instruments at the same time (instead of single option select menu it could be checkmark settings or string with instruments names or multiple item selection menu or simple add from left to right side list);

Previous two could be simply done through some additional Backtest Settings, 3 simple steps could solve this very easy and add EA to backtest basket... 1. EA selection phase - choose EA, set it's settings, 2. pairs selection phase - select currency pair, select timeframes, select another pair or proceed to step 3. action selection - select another EA or start the backtest or optimize

REPORTS
- html formatting, when report is saved column comments appears below a specific trade column;
- excel/other formats exporting;
- to be able to get/save report for specific date, time period and for specific currency pair or for specific comment name;
- to be able control what is being uploaded to the server (what columns, user name etc...) and maybe in encrypted form as well.

RESULT ANALYSIS
- reports merging;
- better analysis capabilities.

TIME
- set platform timezone. All EA's and indicators would be calculated from this platform time;

THE FOLLOWING FUNCTIONS seem to be a problem in MT4, several tools like semaphores etc... provide partial solution, but to make each EA pass below mentioned errors, each EA has to be modified and it has to call dll and use own libraries... this ATC reliable kit (dll file and additional libraries that EA has to call) solution was developed by ATC Brokers and team, but I think it's not the solution to have to modify each EA and add all these most common and natural things... thing like semaphore and the following should already be a part of MT, as some EA's are causing real issues (traders normally don't even see). I think it's so important with use of several EA's, that there maybe should be option menu checkbox to activate it and the following.

- The most common areas that AR helps, are protecting from TradeContext errors of one EA fighting with another, and for holding up the EA from trading when we give back the error "Trade is Disabled" from the server. This concern of "Trade is Disabled" became very important as EA's would hammer the server repeatedly during rollover or server restarts, which in turn led back to causing TradContext errors, locked orders and still hammering on the server constantly.

- Other areas of concern include the EA command "IsConnected()" is fully broken in MT4 and Metaquotes says they are unable to solve it's issues. In this instance, an EA attempts to use IsConnected() to make sure tick feeds are present so EA's don't try to pass orders on stale tick prices when the feed may disconnect due to poor internet connections, (or again during a server restart). Current AR.dll, solves this as we instruct the user to remove "IsConnected" from his EA completely, in favor of our alias call "Connected()" The failed MQ "IsConnected()" function ends up leaving a single EA "believing" falsely that it is not connected when it is actually seeing ticks and therefore the EA refuses to trade when it should.

- The AR further assures, "TradeIsAllowed()" before trades are sent in. It also assures current price on market orders and stops the EA from re-trying orders every tick (hammering the server) and instead adds a retry timer and retry counter, into the order process, reducing the horrible effects of hammering, (which also causes TCP disconnects to occur, again causing more TradeContext locking in turn). In some cases, the AR attempts to solve issues of the "Freeze and SL" zones which mean the EA must not attempt to enter or modify less than one Pip away from the target bid / ask. Last, the AR provides option for X10 action of the slippage and SL/TP values for 5 place server.

If we have these problems and they're pretty much similar with all brokers, maybe then you could issue some sort of tools that would prevent these errors or minimize them. Without API, traders can't do much, so at least you could give us some tools that would be Metatrader 5 native, instead of lenghtly coding and changing each EA to these new standards (that are present and all EA coders should use them for better EA operability).

I know a lot can be achieved by scripts and programming, but you should go over the internet and see that people are programming own things and from different sources, many of them are doing same thing... obviously such things then should be a part of Metatrader 5.

MT MULTITERMINAL SUGGESTION - please create EA support, so it's possible to run EA's inside Metatrader 5 MultiTerminal."

Source

12 comments

Len said... @ June 11, 2009 at 3:29 PM

Will there be a facility built in to manually place orders in Tester and track the results similar to vhands, or autograf (with history).
Alternatively, Terminal Functions could be made available in Tester, but with say some of the Tabs opened at the same time i.e Tester Settings Details Window, Tester Trade details Windows Details and Tester Account History Window

Len said... @ June 11, 2009 at 3:38 PM

In Tester would be handy to to have a start time and finish time for each day in order to test high volume days. Also in skip allow to skip to a specific day/time

Joshua said... @ June 12, 2009 at 12:27 PM

It seems that going by your trade postions diagram, you will not be able to hold an open sell and open buy on the one currency at same time.

How will you support people who have long term strategies daily / 4 hourly, but also have short term strategies like a 5 minute strategy that pics counter trends? Will the stop loss of the counter trend trade be the next entry of the long term trade, or will traders have the option to have 2 trades at the one time? Because the one position causes a range of problems for a counter trend trader, including enlargening the loss of the trader.

miranon said... @ June 16, 2009 at 6:19 AM

Joshua, yes that is correct, i wrote a small article about the new order system here:
http://metatrader5.blogspot.com/2009/06/mt5-order-management-and-trading-system.html

sam said... @ June 22, 2009 at 1:23 AM

hi pls change the system in new mt5 so that we can even write comment on any particular trade in comment option even after executing trade.

Nanook said... @ June 30, 2009 at 7:48 PM

CLOSE ALL POSITIONS !!!!!
WE NEED RIGHT CLICK ON TERMINAL TO SHOW
CLOSE ALL POSITIONS!!!!!
CLOSE ALL POSITIONS !!!!!
WE NEED RIGHT CLICK ON TERMINAL TO SHOW
CLOSE ALL POSITIONS!!!!!
CLOSE ALL POSITIONS !!!!!
WE NEED RIGHT CLICK ON TERMINAL TO SHOW
CLOSE ALL POSITIONS!!!!!

Pirate said... @ July 8, 2009 at 10:10 PM

Command line tool, so we can send attach EA to the command and run it independent from the MT5 window.

Command line tool for compiling source code.

Ability to run multiple EA's live at the same time instead of only one.

Pirate said... @ July 8, 2009 at 10:12 PM

I personally would like to see integration with java so I can run my strategies for stocks and EA's on the java side and execute via MT5.

Ju-Chin said... @ August 22, 2009 at 11:00 PM

I hope mt5 support 3rd party data feeds, so that I can apply mt5 to many markets(stock, future quote from any famous quote server)

Joshua said... @ October 25, 2009 at 9:21 PM

Allow for multi position trading.

The one position will change the logic of a lot of trading systems. In most cases old trading styles will still be achievable, however, with some trading styles, the single position system encourages losing and profitability for the broker. An example with picture explanation is shown here:

http://www.forexfactory.com/showpost.php?p=3160717&postcount=200

gmax111 said... @ November 8, 2009 at 1:32 PM

The history center should log the Ask price so trades in the strategy tester are placed @ the correct price during that time.

Also being able to plot indicators/charts from the ask price and/or the bid price.

With all of the brokers switching to variable spread feeds this is a must have option.

Metalda said... @ February 5, 2010 at 9:42 PM

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Lucy

http://forextradin-g.net

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