metatrader 5

There is one unpleasant limitation in MQL5 and Metatrader 5: Objects cannot be created from indicators. I mean fubctions like ObjectCreate or ObjectName are now not possible to apply to indicators. According to , this was made intentionally to speed up the performance of indicators. So graphical objects are now only available in EA's.

Some time ago there was a discussion on the mql4 forums about this limitation and how to avoid it, when programming trading strategies. The good news is that the developers probably will implement the possibility to start several Expert Advisors on one chart. So traders will be able to create EA-indicators with objects and without trading. Such EA's will operate like standard indicators.

So what can we do now about this limitation? Well, the task is now solved by starting a trading EA in one chart and the EA-indicator that is using objects in the second one, and then implement the exchange between them. But i really hope that the developers of MQL5 will remove this limitation in the near future.

Update: MetaQuotes added the possibility to use graphical objects in indicators with new builds of Metatrader 5 beta. See details here.

4 comments

phy said... @ October 17, 2009 at 1:54 PM

I have created a test Indicator and it can create objects..
Moving average with arrow objects...
http://my.jetscreenshot.com/224/20091017-33eh-177kb.jpg

miranon said... @ October 22, 2009 at 4:05 AM

Phy, yes, the possibility to use graphical objects was added with the public beta. MetaQuotes listened to suggestions from many traders about this.

Trend said... @ November 6, 2009 at 2:11 AM

I am very dis appointed in meta trader 5, all this development and their is no internal build ea or function that come with meta trader 5 the allow you to trade on the graph or allow you to do interactive trading by allowing you to manual using your mouse to drag up your stop, take profit, and stop-loss on the graph that is on every trading software out their. The other disappointing thing is the almost every trading software out their come with some kind of basic money management function, that allow the trade to manage their position by take profit 1st target, take profit 2nd target, take profit 3rd target, and brake even and then trail afterward. Such basic money management trading function should had come with meta trader 5. this is true a waist of time trading software. I would advise trader out their if you want to be come a profession trader you need such basic tool in your trading software or else you will always end up on a losing trade not able to manage your trade effectively. You will now what i am talking about if you are a professional trader.. by trend doctor

Note : Pipping the market is not easy ...without such function and tool kit

Trend said... @ November 6, 2009 at 2:13 AM

I am very disappointed in meta trader 5, all this development and their is no internal build ea or function that come with meta trader 5 the allow you to trade on the graph or allow you to do interactive trading by allowing you to manual using your mouse to drag up your stop, take profit, and stop-loss on the graph that is on every trading software out there. The other disappointing thing is the almost every trading software out their come with some kind of basic money management function, that allow the trade to manage their position by take profit 1st target, take profit 2nd target, take profit 3rd target, and brake even and then trail afterward. Such basic money management trading function should had come with meta trader 5. this is true a waist of time trading software. I would advise trader out their if you want to be come a profession trader you need such basic tool in your trading software or else you will always end up on a losing trade not able to manage your trade effectively. You will now what i am talking about if you are a professional trader.. by trend doctor

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