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MQL4 vs MQL5 Programming Languages

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Overview: MQL is a programming language for MetaTrader platform's automated trading strategies
MQL4 and MQL5 are tools for developing trading robots and indicators
Language evolved from MetaTrader 3 to 4 and 5 platforms
Key Features: MQL4 has 8 options, MQL5 has 10 options in wizard
Expert Advisors (Robots) work constantly on chart
Indicators display price data with graphical tools
Scripts process non-real-time data
Include files (.mqh) library enables code reuse
Technical Differences: MQL4 uses separate functions for order management
MQL5 uses single OrderSend function for all operations
MQL4 has 32 buffers, MQL5 has 512 buffers
MQL4 supports netting, MQL5 does not
MQL4 has fewer event handlers than MQL5
MQL5 Advantages: No coding required for Expert Advisor creation
Generates trading robots with customizable parameters
Includes built-in signal generation and risk management
Offers multiple trading account management modes