MT5 - when to switch to new version ?

[idempotent]

It's the API that matters.

TBH, I won't care if it's JForex or Empty4, or cTrader, if at least one of the options it can do is to set up a server/client architecture where my own code can interact with the broker's platform and control it. Once we do that, w are free. Or at least as close to free as we can get.

If cTrader hooks into .NET then it seems likely that this is a viable option, either as a client/server, or as an ecosphere that is a fully fledged language. JForex may be too.

However the development environment is more interesting to me. Empty4 has shown itselft to be intentionally barely good enough (which is to say, not good enough). What do we need?

• good historical data
• good programming language
• good visualisation

I must admit I have started to build my own development environment, which is suiting me nicely, but is far too sloppy to foist on anyone.

BTW I am besotted with Python. It's been a decade since I've used Java, but Python just eats it alive for my needs. So many libraries, and the language is so efficient, powerful and expressive. Wins abound.

[idempotent]

Python is quite heavily (and increasingly) used in the finance and quant world, as far as I can tell, apart form being increasingly used as a very powerful general "go to" language as well. It has several libraries some of which originated in hedge funds and the like (for example Pandas: http://pandas.pydata.org/

Snap. Pandas is stunning stuff.

Anyway, my main point is that apart from these advantages, Python is IMHO even easier to learn and become productive with for non-programmers than Java and I'd highly prefer/reccomend it for that reason. It is also my language of choice for my current quanatitaive/algorithmic trading research work.

What s/he said.

[idempotent]

Incidentally, I spent some time looking at Zorro (previously mentioned by SH) the other night.

To be honest, it smells like a sales pitch masquerading as a development environment. "You *could* develop your own, but here's a "tutorial" (advertisement) for our Z1 and Z2, which you can run hobbled, or buy and run unrestricted"

Aside, I tried the demo version, but it just keeps disconnecting from the broker after some hours, and makes no attempt to reconnect.

I don't think it's in any way a serious contender here.

[babalu4u]

Tray cTrader and cAlgo you can get here demo account:
http://www.tradersway.com/index.php/tra ... ms/ctrader

[jcl]

Try Zorro. It is intended just for that purpose, to be independent of Empty4 and MT5, and is developed as a community project. And no, it has no "advertisement for Z1 and Z2" (whatever that's supposed to mean) or any known problems with the broker connection. We have Monday, so maybe you confused that with the weekend logoff?

Disclaimer: as I'm involved in the development and do Zorro support, I'm maybe not its most objective judge - but on the other hand, if there are problems with it, I should know them.

[idempotent]

Try Zorro. It is intended just for that purpose, to be independent of Empty4 and MT5, and is developed as a community project. And no, it has no "advertisement for Z1 and Z2" (whatever that's supposed to mean) or any known problems with the broker connection. We have Monday, so maybe you confused that with the weekend logoff?

Disclaimer: as I'm involved in the development and do Zorro support, I'm maybe not its most objective judge - but on the other hand, if there are problems with it, I should know them.

JCL, thanks for the response. I spoke in haste and frustration. I'd love for Zorro to work. I don't want to pollute the thread, so I'll post to the Zorro thread here: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=921

[simplex]

...
Java is easier to learn than some programming languages and is perhaps better suited to members than C++, C#. Python is a very nice language but Java is more wide spread in this context.
...

Professionally working in Data Warehousing projects and more experienced in VB and C based script languages I have to modify existing code in other environments from time to time.

Stumbling upon Python code I easily managed to make a jump start within one day to have my modifications up and running. In Java the initial hurdles seem much higher, it took me much more time to get things working.

Having to choose between Java and Python as a language to fit the needs of more semi professional developers as well as all the real professionals amongst us Python would be my personal choice.

- simplex

[aSushiRoll]

I see some comments on the subject that on certain platforms there's not yet that many indicators or it would take some time to develop X indicator you'd like to use.

Having a forum like this however can drasticly reduce that time if we would all make the switch over to a new platform and simply create a poll which indicator do you want to have on X platform first? Then the one most people want can be easily created by our members. etc.

[falsedave]

TBH I dont think MT5 will never happen. Having gone NFA compliant with one trade per symbol they have lost a large share of users. I for one dont want to be forced into the stupid U.S imposed rules for trading. I tried MT5 a while back even coded up xMeterDave for MT5 so I could try and backtest it. Whilst backtesting did work it was amazingly slow to do it and tempremental at the best of times.

I can highly recommend Zorro if your into automated trading. Its fast , multipair , and the number of indicators and filters is excellent. It can provide you with a very detailed analyis of how your strategy.Much much better than Empty4 but without the stupidly steep learning curve of something like MATLAB. If you only read the reading list recommended by Zorro you'll be a much better algorithmic trader. Doesnt allow manual trading though.

I would love an opensource platform. Having tried to use JForex in the past and other Java platforms I dont think it is the way forward. Python would be my choice easy to learn and easy to expand upon.

[ovo.cz]

I probably could help, but I did not learn what the goal of this "call for open source development" was.
As far as I understand, we are discussing an MT server connected to an open source client. (or not only the MT technology??)

With developing the alternative client software, we may be sure we will never get any API for the MT server. The only legal API is the MT terminal, otherwise we must change to a broker that uses different technology.

With the MT terminal running, the only way of adding a value is using the MQL script. The script can pretty easy communicate with anything. The trouble is, that such a project would only contain an API between the MT terminal and some other IDE.