Important Note: MT5 is still in beta testing and is currently not offered to customers at trading-point.com
After the achievement and success of the MetaTrader 4, a latest version version has been released under the name MetaTrader 5 (MT5). The MT5 Forex trading software which was previously being tested as a beta version is comparable to the older version with its usual but brilliant flexibility and easy use of its features while the design and interface remain very similar. The new, modified interface of MetaTrader is now easier and quicker to function.
A trader that has several accounts can now navigate through the windows with faster movement and can handle and organize work with almost no delay or hassle. Handling two accounts in which you may perform scalp and the other trade is increasingly swift and at high speed when moving through the two categories and when reacting to any new market events. MetaTrader will undoubtedly impress any Multiple graph of the Forex price action can be simultaneously presented on the MetaTrader 5 interface. There is also a single large panel where you are able to trade your pair smoothly and easily. MT4 provided some buttons and icons at the top of the panel and are unfortunately not facilitated in MT5 due to the change.
Another addition to MetaTrader 5 is the huge amount of new indicators. Contrasting from MT4, MT5 separates Forex indicators into four distinct groups. The four indicators are assembled into ‘Trend’, ‘Volumes’, ‘Oscillators’ and ‘Bill Williams’. Traders also have the option of a fifth category where they are able to store developed or imported items. This extra feature added to MetaTrader is ideal for traders wishing to act faster and easier whilst assembling their indicators. New trend developments of indicators include the Adaptive MA, the Fractual Adaptive MA, the Double and Triple Exponential Moving Averages and the Variable Index Dynamic Average.
The Double Exponential Moving Average (DEMA) differs from a simple EMA. It is a complex tool with less delay and with immense accuracy. It sends its signals by grabbing the n-period EMA of an EMA. The Triple Exponential Moving Average (TEMA) is said to have an even lesser delay then the DEMA. It also measures the EMA of the n-period of the initial price EMA. Moving averages are used in a way that their more familiar and exponential moving averages are used in trend analysis.
To filter out market noise, MetaTrader 5 has introduced the new oscillator called the Triple Exponential Average. The TRIX feature attributes a Triple Exponential Moving
Average, oscillating about a centreline at 0. The Bill Williams category for indicators includes the new Market Facilitation Index. Signals are emitted based on the interaction among the indicator itself plus price and volume. Out of the seven new indicators introduced through MetaTrader 5, the five new trend indicators are the most central. The addition of the Double- and Triple Exponential Moving Averages is the most appealing part of the MetaTrader collection due to the major changes of controlling and analyzing risk and trade.
MetaTrader 5 now includes an advance trading script along with an impressive Expert Advisor for traders who favor auto-trading. The MT5 trading script has been adapted with a feature that can perceive previous faults and errors and the language is now structured in a more condensed, user-friendly, trouble-free form. A comprehensive analysis of the technical scheme tested is offered by enabling the pre-made chart – in chart form through the Expert Advisor.
As mentioned above, there are many advantages of the MetaTrader and not anything to criticize. The developers continued to feature the benefits of the previous platform and have kept the order in its simple form. On the whole, MT5 is similar to MT4, there is merely an improved context with a more arranged lay out. Modifications were made for traders using the platform to achieve greater efficiency and better results during their trading activities. A factor of MetaTrader 5 that can persuade us to work with a broker that offers this software is their very impressive new range of indicators. Both TRIX and TEMA indicators guarantee no failure and potential clarity during any Forex trading activities.
Market action through the use of these indicators is far more specific and targeted than it had been. The TRIX oscillator overcomes many of oscillators’ previous weaknesses, taking traders to the next generation. Traditional disadvantages of oscillators such as their weakness to whipsaws and lag are now forgotten and improved to be more secure and fast. Evidently, refinement and renovations have been done to the script and the Expert Advisor offering fewer troubles with creating automated strategies which is an area that MetaTrader previously lacked preciseness. To conclude, it is obvious that MetaTrader 5 is a considerable useful and efficient trading solution for Forex traders.