MT4 vs MT5: Key differences
Feature | MT4 | MT5 |
Asset Support | Designed for Forex and CFDs | Multi-asset platform (Forex, stocks, futures, options, crypto) |
Timeframes & Charts | 9 timeframes, 30 indicators | 21 timeframes, 38 indicators, more chart types (e.g., Renko, Heikin-Ashi) |
Order Types & Execution | Basic execution and 4 pending orders | 6 pending order options, partial fills, depth of market |
Strategy Testing | Single-threaded EA testing | Multi-threaded, multi-asset tester with agent manager |
Programming Language | MQL4: ideal for simple EAs | MQL5: more powerful, supports complex algorithms |
Extras | Simple and widely supported | Includes economic calendar, market depth, chat |
Advanced tools for MT4 & MT5
Boost your trading with these powerful additions:
Custom Indicators & EAs
E.g., Moving Average Crossovers, ADX, MACD. Automate and refine your setup.
Smart trader tools (MT4/MT5 plug‑ins)
Include mini‑terminals, trade terminals, correlation matrixes for efficient trade management.
ECN bridges
Connect MT4 to ECN for faster execution, deeper liquidity, and partial order fills.
Combined indicator strategies
Use tools like Hercules Scalping, BB MACD, Donchian Channels to mix indicators and refine entries/exits.
Why do these tools matter to traders?
Trend detection & precision
More indicators & timeframes = clearer trends and entry points.
Automation = Consistency
EAs & plug-ins execute trades objectively — less emotion, more discipline.
Deeper market insights
MT5’s depth-of-market and multi-thread testing give analytical edge and more predictable outcomes.
Quick setup checklist
Choose MT4 or MT5 based on your trading goals.
Enable EAs and custom indicators using MQL4/5.
Consider plug‑ins like Smart Trader Tools for better trade management.
Add ECN Bridge if you need direct market access.
Back‑test strategies using platform’s testing tools.
Combine indicators strategically (e.g., MA crossover + MACD).
Where can we help?
Our support team can assist you with:
Installing and configuring your MT4/MT5 tools and plug‑ins.
Setting up custom indicators and Expert Advisors.
Choosing between MT4 and MT5 based on your goals and experience.
Troubleshooting Trading Central or similar add-ons.
Let us know your setup and goals — we’re here to optimize your strategy in Doto! 🚀