Skip to main content

For those immersed in technical analysis and algorithmic trading, Amibroker and MetaTrader (MT4 & MT5) are household names. Both platforms are packed with features that cater to every trader’s needs. While Amibroker has a longstanding presence in the market, MetaTrader is a newer entrant. This post dives into a detailed Amibroker vs MetaTrader comparison, encompassing both MT4 and MT5. Our unbiased analysis is grounded in thorough research, market surveys, and hands-on usability studies.

Charting Tools Compared

Amibroker and MetaTrader both offer stellar charting interfaces, enabling users to dissect stock charts, layer indicators, and sketch patterns or trendlines. Amibroker edges out slightly in multi-timeframe analysis and provides more flexibility in charting timeframes, unlike the fixed ones in MetaTrader. Additionally, Amibroker’s charting tools are faster, giving it a slight advantage over MetaTrader.

Performance Showdown

When it comes to performance, Amibroker is unparalleled among technical analysis software. Its ability to backtest and optimize data spanning years in just minutes is thanks to its unique multi-threading architecture and C++ based compiler. Notably light on system resources, Amibroker ensures your CPU isn’t overburdened.

While MT4 and MT5 may lag behind Amibroker in speed, they are still highly efficient, handling numerous tasks rapidly and effectively.

Automated Trading Capabilities

In the realm of automated trading, MetaTrader stands out with its native auto-trading interface. Numerous US brokers integrate directly with MetaTrader. It also provides access to a thriving marketplace where traders can acquire or rent algorithms for trading.

Amibroker is gradually making strides in automated trading. Although possible, setting up auto trading in Amibroker requires more steps compared to MT4 and MT5.

Additional Reading: Amibroker vs MetaStock: A Detailed Comparison

Programming Language Ease of Use

Amibroker uses AFL (Amibroker Formula Language), an array-based language, while MetaTrader operates on MQL (MQL4 and MQL5), both of which are akin to C/C++. However, user surveys suggest AFL is more user-friendly, especially for those new to programming.

Cost Comparison

Amibroker tempts with a free trial, and its paid version begins at $279, including a perpetual license and 24 months of support and upgrades. Conversely, MetaTrader offers free software usage, with costs only associated with data subscriptions.

Wrapping up our Amibroker vs MetaTrader face-off, the choice boils down to your personal needs and usage scenarios. For a robust, user-friendly tool with an easier learning curve, Amibroker is your go-to. If automated trading is your main focus, MetaTrader should be your top pick.