Despite Forex market constantly evolving and making headway, many traders still have problems associated with trading software. The most popular trading platform, MetaTrader 4, has long had a new version – MetaTrader 5. It is not worth talking about the advanced features, in-depth market adaptability and all kinds of innovations. Most traders gladly switched to MetaTrader 5, but not algotraders. Algotraders are traders selling with automatic programs, or advisors. Thus far, MT5 advisors are not widespread and the choice is limited, particularly when compared with the set of advisors for the 4th version.

Can older EA versions be used as advisors for MT5? Not directly. Unfortunately, with the release of a new version the developers also made changes to the EA code, thus changing their structure. This is why you can’t just move the EA from the 4th to the 5th version – it won’t do it. Due to this problem, the number of advisors has significantly decreased, because the old EAs can’t be used, while the new ones can’t be created so fast.

But don’t get upset. A lot of new and old advisors are available for those who have decided to switch to a new MetaTrader version. And the most important thing is that MT5 advisors are actually the most popular and profitable MT4 advisors. Despite the changes in the code, it is easier to adapt old advisor than to create a new one.

Below we will describe some currently available MT5 advisors:

1. Heiken Ashi Naïve is an EA available for MetaTrader 5. Profit during the tests is 110%, level of drawdown is 16%, analyzed period is 2001 – 2013. A popular trading system built on a completely new principle of candles building and shaping. The EA itself is a counter-trend, but the trader can also use it for its intended purpose by analyzing candles. Just track the color of the candles: when it changes, so does the trend. The trend strength can be determined by the size of the candle.
2. Adjustable MA 3G refers to the section of conservative MT5 advisors. The test covered the period from 2004 to 2014, the maximum profit was 416% with a drawdown of only 11%. The classical use of moving average: the position opens at the crossing and closes in a similar manner. Unlike the previous EA, this one has many customizable features and settings, from MA period to the acceptable level slippage.
3. Ichimoku Chinkou Cross is a very popular EA, also built on the use of the well-known indicator. Testing period was January 2001 to May 2013. During this period, the EA showed annual yield of 67%, with the maximum drawdown being only 8%. It is based on the Ichimoku indicator with default settings. The positions open when the price line crosses Chinkou line. It also has additional, confirming signals.

Of course, this is not a full list of MT5 advisors. You can find adapted versions of many popular advisers for the 4rth version online, as well as newly developed MetaTrader5 advisors.