According to MetaQuotes, the MQL5 language is distinct for high speed of execution and approaches C++ in terms of this parameter. As compared to MQL4, the new language boasts up to 20 times faster execution speed. We know that execution speed is everything when developing ea's and scripts that sometimes need to crunch huge amounts of data in conjunction with real-time price movements. MQL5 is now more object oriented, what makes the development of EAs quicker, easier and more flexible, especially for autotrader developers. This also allows using more complex EA's able to process large amounts of data per time unit and therefore obtain more precise forecasts of price dynamics. The MQL5 programming environment incorporates intellisense system which, as most developers would agree, speeds up the development process. It also has a built-in debugger for testing and quickly find errors and fix them. The MetaTrader 5 Strategy Tester will not be much different from the tester in MT4 besides more advanced report system.

According to the MetaQuotes forum staff, the MetaTrader 5 Public Beta and the MQL5 development environment will be available within several weeks (probably end june). The official website www.mql5.com is now under construction. More information will be published soon.

The new MetaTrader 5 platform was rewritten from scratch and is not an upgrade of MT4 but rather an entirely new client terminal. MT5 will feature:

- High performance and outstanding working speed;
- 3 chart-types, 21 timeframes and over 70 analytical tools;
- 5 order types and 4 execution modes available for trading;
- trading operations on different markets (forex, options, futures and stocks);
- Advanced built-in reports on all trading activities;
- MQL5 development environment with new IntellySence system and more advanced strategy tester.

MT5 has a new integrated development environment called MQL5 which includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5). Unfortunately the MQL4 and MQL5 languages are not compatible. This means that every custom indicator and EA must be rewritten to work with Metatrader 5. It is not clear yet if there will be a tool which converts the MQL4 source code to MQL5 or allows MQL4 executables to run in MT5. The official statement of MetaQuotes about this:

You should also understand that we doing it not to make you redo the EA developments every time when we launching a new platform. From the beginning of Metatrader 5 development we thought that we will be able to save the compatibility. And we said about it many times. But the numerous traders/developers requests made us change our mind. We`ve understood that just cant make a new language compatible. At the same time we have made MQL5 more powerful and in this way we gave you, traders and developers, more abilities - that was our main goal in developing of MQL5 IDE. From one side new language with the new abilities and from the other side - MQL4 and MQL5 compatibility. Unfortunately, these two aims cant be reached at the same time.

According to MetaQuotes, the MQL5 language is distinct for high speed of execution and approaches C++ in terms of this parameter. As compared to MQL4, the new language boasts up to 20 times faster execution speed. We know that execution speed is everything when developing ea's and scripts that sometimes need to crunch huge amounts of data in conjunction with real-time price movements. MQL5 is now more object oriented, what makes the development of EAs quicker, easier and more flexible, especially for autotrader developers. This also allows using more complex EA's able to process large amounts of data per time unit and therefore obtain more precise forecasts of price dynamics. The MQL5 programming environment incorporates intellisense system which, as most developers would agree, speeds up the development process. It also has a built-in debugger for testing and quickly find errors and fix them. The MetaTrader 5 Strategy Tester will not be much different from the tester in MT4 besides more advanced report system.

In the MQL5 forum, someone listed several other features that could be useful. It's unclear how many will actually be integrated into the platform...

"CHARTS
-to be able to modify default MT4 chart settings (grid color etc...) without having to reapply template
-automatic built-in period/tick conversion to all timeframes (maybe it could be done with another improved script or it's option)
-to be able drag indicators on the charts from one to second window, or reorganize indicators order somehow
-besides # of bars on the chart set date and time since when chart has to load the data or since when they have to be stored

BACKTESTER
-to be able to backtest several timeframes or systems in a single backtest. Backtest several instruments at the same time (instead of single option select menu it could be checkmark settings or string with instruments names or multiple item selection menu or simple add from left to right side list).

REPORTS
-html formatting, when report is saved column comments appears below a specific trade column
-excel/other formats exporting
-to be able to get/save report for specific date, time period and for specific currency pair or for specific comment name
-to be able control what is being uploaded to the server (what columns, user name etc...) and maybe in encrypted form as well

RESULT ANALYSIS
-reports merging
-better analysis capabilities"