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Trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been upgraded to optimize operations and to offer new functionalities, Russia’s MetaQuotes, the developer behind the two platforms, said in separate notices over the weekend.
MT4 Android users now can use the platform’s chat functions and communicate with other community members. They can send via the chat a message directly to a user’s mobile device by putting in their login information.
The MT5 upgrade has resulted in a lot more changes. The platform’s MQL5 libraries have been greatly expanded with various features. For instance, MT5’s Standard Library now includes an ALGLIB numerical analysis library with mathematical features concerning linear algebra, numerical integration, descriptive statistics and hypothesis testing, data analysis – classification, regression, ordinary differential equations, interpolation, special functions, linear and nonlinear equations and least squares fitting, Fast Fourier transformation, and implementation of linear algebra, interpolation, etc. in multiple-precision arithmetic (using MPFR).
The Standard Library also includes the MQL5 version of the Fuzzy library, which implements Mamdani and Sugeno fuzzy inference systems. Following is a list with the newly-added features:
- 13 membership functions
- Flexible form for developing fuzzy system rules
- Mamdani fuzzy inference system
- Sugeno fuzzy inference system
- 5 defuzzification method for Mamdani-type systems
- Unlimited amount of input and output variables
New features have also been added to MT5’s Statistical Library. They allow for the calculation of statistical characteristics of array elements and for operations with statistical distributions: normal and lognormal distribution, beta distribution, etc.
In addition, following the upgrade MT5 users can also customize indicators and chose from one to three colors for candlesticks with the Draw_Candles drawing mode. The following logic applies for color selection:
- If one color is specified, all candlesticks on the chart will be fully painted in this color.
- If two colors are specified, one color is used for candlestick edges, the other one is used for the body.
- If three colors are specified, one color is used for candlestick edges, two other colors are used for the bodies of bullish and bearish candlesticks.
Other new features to the MT5 are the CHART_QUICK_NAVIGATION, which allows enabling/disabling quick navigation bar in the chart, as well as FileLoad and FileSave functions that provide an easy method to read and save arrays to files.
The MT4 and MT5 are the most widely-used trading platforms for forex, contracts for difference (CFDs), options and futures. The MT5 also has a function for stock trading. The platforms allow automated trading, using Expert Advisors (EAs) and are available for desktop and mobile devices and via the web.