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Multicharts vs. Meta Trader
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Multicharts vs. Meta Trader

  #1 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: Multicharts, R
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Multicharts vs. Meta Trader

Has anyone done an evaluation of MultiCharts vs. Meta Trader?

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  #2 (permalink)
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  #3 (permalink)
Elite Member
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diverdan View Post
Has anyone done an evaluation of MultiCharts vs. Meta Trader?

Apart I think there no nothing to compare, anyway I'm glad to know what would u like to comapre with this 2.

Metatrader is only an OTC platform that allow only feed from OTC brokers.

Luke.

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  #4 (permalink)
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That's the problem, you can't use metatrader because of the brokers.

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  #5 (permalink)
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vegasfoster View Post
That's the problem, you can't use metatrader because of the brokers.

So, the comparison is done: MultiCharts 1/MetaTrader 0.

Success requires no deodorant! (Sun Tzu)
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  #6 (permalink)
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Metatrader

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This post has been selected as an answer to the original posters question Answer

Ok, some more stuff on Metatrader.

MT is a user friendly platform, builded around OTC markets (mainly forex spot), that allow charting with some standard timeframes only, this can be improved with EAs (for renko chart, PnF, etc.) and with offline chart for more timeframes.
MT has a bult-in quite simple, not so powerful, programming language, MQL, that allows to buld indicators, scripts, and expert advisors (EAs), is also possible programming with extenal language thru MT4 api.
MT allows backtesting startegies thru EAs, with the defoult max accuracy of ticks rebuild from minute data, 90% accuracy, it possibile to hit 99% of accuracy backtesting with real ticks but with a not in a so simple way.
MT allows automated trading thru EAs.
The trading order are Market, Limit, Stop, with SL and TP fuctions and also a simple Trailing stop fuction, and expiry time option too.
In the actual stable release, MT4, there are no market depht (added in MT5), no DOM and no T&S.
In MT5 (still beta) many fuctions were improved like MQL language) and new tools were added, some new timeframes but there are still no defoult range bar, volume bar, renko, PnF etc.

Luke.

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  #7 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: Multicharts, R
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Hi Luke

Thanks for the information.

Please excuse my newbee questions - OTC stands for Over the Counter?

I trade Forex and am looking for a reliable automated backtesting tool. In the past I have used Amibroker which works well for Shares / CFDs but not Forex.

Got really frustrated with NT and naturally progressed to MC (trial period) but noticed that other Forex traders were recommending MT4. I guess because in Australia a lot people use FXCM to trade and they provide that platform. I was intrigued as FXCM also seem to provide MC.

So for me the question is still whether MC is worth the cash to get a reliable backtesting tool or whether MT4 is man enough for the job.

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  #8 (permalink)
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diverdan View Post
Hi Luke

Thanks for the information.

Please excuse my newbee questions - OTC stands for Over the Counter?

I trade Forex and am looking for a reliable automated backtesting tool. In the past I have used Amibroker which works well for Shares / CFDs but not Forex.

Got really frustrated with NT and naturally progressed to MC (trial period) but noticed that other Forex traders were recommending MT4. I guess because in Australia a lot people use FXCM to trade and they provide that platform. I was intrigued as FXCM also seem to provide MC.

So for me the question is still whether MC is worth the cash to get a reliable backtesting tool or whether MT4 is man enough for the job.

Hi diverdan,
Ja, OTC = Over the Counter.
I'm not the best for give advice on backtest, cos i'm not an automated trader, but if u got frustrated with NT, MC, Amibroker, that are all far better than MT4, don't think this last can satisfy you, anyway u can try it. Maybe give a look to Wealth-Lab Developer.

Luke.

Take your Pips, go out and Live.
Luke.
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  #9 (permalink)
Elite Member
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Hi

I am only frustrated with NT - Amibroker and MC I like.

My concern was whether to purchase MC if MT could achieve similar results and I was hoping someone in the forum could provide some insight into why they chose MC over MT.

Thanks

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  #10 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker/Data: Rithmic
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Posts: 1,501 since Apr 2010
Thanks: 408 given, 974 received



diverdan View Post
Hi

I am only frustrated with NT - Amibroker and MC I like.

My concern was whether to purchase MC if MT could achieve similar results and I was hoping someone in the forum could provide some insight into why they chose MC over MT.

Thanks

MC is better for sure, anyway try MT before, give a look here for how to becktest with 99% accuracy MT4 Tick data | Birt's EA review

Luke.

Take your Pips, go out and Live.
Luke.
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