There is a huge demand in converting mql4 to mql5 and mql5 to mql4 programs in Metatrader Platform. Currently no such utility is available for cross compiling and so far only manual coding is involved in converting mql4 to mql5 and mql5 to mql4 indicators and expert advisors.To solve this complexity Metaquotes had come up with a solution in so that MT4 and MT5 platforms comes to a convergence point.
Here are some of the Big Changes announced by metaquotes recently.
1)Complete replacement of MQL4 language and MetaEditor 4 with common MQL5 and MetaEditor components
Instead of working on MQL4 -> MQL5 compatibility, we have decided to go the opposite way. We have transferred the maximum possible amount of MQL5 language functions and features fully preserving MQL4 functionality. In other words, all powerful MQL5 functions, including ООP and the native code compiler, will become available in MQL4.
To achieve this, we have developed a unified compiler that automatically supports both MQL4 and MQL5 languages. MetaEditor will also become a single application both for MetaTrader 4 and MetaTrader 5 platforms. Thus, it will be possible to compile both MQL4 and MQL5 from any version.
2)MQL5 Storage will be available in MQL4 IDE
Thus, it will be easier to manage source code versions, participate in team operations and synchronize files.
3)MQL4 code protection is considerably increased
New EX4/EX5 files are provided with a serious and completely revised protection.
4)The market of applications will become available in MetaTrader 4
Transition to the new compiler that supports resources and conventional protection suited for each user’s PC will allow users to develop and sell full-fledged applications. There is no need to worry about the protection of EX4/EX5 files sold via the market – they do not contain bytecode but only a pure native code signed by our private key.
This solution puts in order all the diversity of existing programs and protects the sellers.
5)The market of MetaTrader 4 applications will open for MQL5.community in mid-August
Developers already can prepare their applications and register as sellers. We will start releasing the first beta versions of the terminal in a couple of weeks.
With demand for its MetaTrader 4 platform to remain strong, despite the launch of the MetaTrader 5 system, MetaQuotes announced last month that it was working on creating greater adaptability between the MQL4 and MQL5 languages that power automated trading on the two platforms. According to MetaQuotes, the company decided to boost the abilities of MQL4 by adding programming features from MQL5.
Last month MetaQuotes has announced the launch of the beta IDE, for cross compiling of MQL4/5 programs. To adapt with the new features, several segments of the existing MQL4 language will no longer be accepted code. The new IDE is currently available for download on the MQL4 forum site (link here). During the beta period, MetaQuotes will be monitoring for bugs before a complete rollout of the compiler to all MetaTrader 4 platforms.
With the changes set to take place, developers will have greater abilities to create EAs and indicators to work across both MetaTrader 4 and 5. Not surprisingly, the MQL evolvement occurs as MetaQuotes is also in the process of launching its MQL4 marketplace, where developers can sell EAs for the MT4 platform to fellow users.
Future Boost for MT5?
One of the key items holding MT5 back from gaining widespread adoption, was the changes between MQL4 to 5. Rather than being simply a platform upgrade, the core of each platform was different. As a result, programs available for MetaTrader 4 wouldn’t work on MetaTrader 5. This in turn created little reason for traders and developers to move to the new platform. Without client demand, brokers have seen little reason to launch MT5, even with its server side benefits it provides. However, this dynamic could be changing soon. By creating cross language constants, and a common compiler, MetaQuotes should have an easier time marketing MT5, as products developed using the new MQL4 IDE are expected to be compliant with the MQL5 code.
While the future for MT5 looks brighter, there is a chance for these new changes to back fire. In terms of MetaTrader, a chief complaint has been the lack of uniformity between the two platforms. Even with the new IDE, developers need to update their MQL4 programs in order to adapt it to changes. As such, it could alienate users of older programs, who may decide that if they are already going through the process of recoding, then it is worth looking into other platforms as well.
Source : MQL4 and MQL5 Slowly Merging on MetaTrader