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MetaTrader5 VS Chart.js

Compare MetaTrader5 VS Chart.js and see what are their differences

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Contents:
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  3. » Reviews
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MetaTrader5 logo MetaTrader5

World-leading multi-asset platform that allows trading Forex, Stocks, Futures and CFDs.

Chart.js logo Chart.js

Easy, object oriented client side graphs for designers and developers.
  • MetaTrader5 Landing page
    Landing page //
    2023-10-07
  • Chart.js Landing page
    Landing page //
    2023-03-13

MetaTrader5 features and specs

  • Multi-Asset Platform
    MetaTrader 5 allows you to trade a variety of asset classes including Forex, stocks, commodities, indices, and cryptocurrencies.
  • Advanced Charting Tools
    The platform offers advanced charting tools with a wide range of technical indicators and graphical objects for detailed market analysis.
  • Automated Trading
    MetaTrader 5 supports algorithmic trading via Expert Advisors (EAs), which can automate trading tasks based on predefined strategies.
  • Market Depth
    The Market Depth feature provides an insightful view of available bids and offers, enhancing your market analysis.
  • Economic Calendar
    An integrated economic calendar allows traders to monitor market-moving events and news directly within the platform.

Possible disadvantages of MetaTrader5

  • Complexity
    The platform can be overwhelming for beginners due to its extensive features and advanced tools.
  • Limited Broker Support
    Not all brokers support MetaTrader 5, limiting its accessibility depending on your broker of choice.
  • Learning Curve
    There is a steep learning curve to fully leverage all the advanced features and customization options MetaTrader 5 offers.
  • Resource Intensive
    The platform can be resource-intensive, requiring a robust computer system for optimal performance, especially when multiple charts and indicators are used.
  • Transition from MT4
    Users transitioning from MetaTrader 4 to MetaTrader 5 may face compatibility issues, as not all scripts, indicators, and EAs are transferable.

Chart.js features and specs

  • Open Source
    Chart.js is open source and free to use, which makes it accessible for both personal and commercial projects without any licensing costs.
  • Ease of Use
    Chart.js is known for its simple and easy-to-use API. Developers can quickly create charts by just including the library and writing minimal JavaScript.
  • Lightweight
    The library is relatively lightweight compared to other charting libraries, which helps in maintaining the performance of web applications.
  • Responsive Design
    Charts created with Chart.js are responsive by default, ensuring that they look good on all devices, including desktops, tablets, and mobile phones.
  • Variety of Chart Types
    Chart.js supports a variety of chart types including line, bar, radar, pie, doughnut, and polar area charts, providing flexibility for different data visualization needs.
  • Customization
    Developers can customize the appearance of charts extensively through Chart.js options such as colors, labels, and tooltips.
  • Active Community
    Chart.js has an active community and a strong support base, which means that developers can easily find help, tutorials, and plugins to enhance functionality.

Possible disadvantages of Chart.js

  • Limited Advanced Features
    While Chart.js is good for basic and intermediate charting needs, it may lack some advanced features and customizations offered by more complex charting libraries like D3.js.
  • Performance Issues with Large Datasets
    Chart.js can struggle with performance when dealing with very large datasets or complex visualizations, which can result in slower rendering times.
  • Learning Curve for Customization
    Although the basic usage is straightforward, achieving deeper customizations can involve a steeper learning curve as it requires understanding the underlying JavaScript and options.
  • Limited Interactivity
    Interactivity options with Chart.js are somewhat limited compared to other libraries that offer more advanced interactive features.
  • Dependency on Canvas
    Charts are rendered using the HTML5 canvas element, which may not be as flexible as SVG-based rendering used by some other libraries.

Analysis of MetaTrader5

Overall verdict

  • Overall, MetaTrader 5 is a highly versatile and robust trading platform that is well-suited to both beginner and experienced traders, especially those interested in utilizing automated trading solutions.

Why this product is good

  • MetaTrader 5 (MT5) is often considered a good trading platform due to its extensive range of features. It provides advanced charting tools, numerous indicators, and the ability to trade a wide variety of financial instruments including forex, stocks, futures, and CFDs. MT5 is also equipped with a user-friendly interface, supports algorithmic trading through the MQL5 programming language, and offers a community for sharing strategies and signals.

Recommended for

  • Traders looking for a comprehensive trading platform with advanced features.
  • Users interested in algorithmic trading and developing custom trading robots and indicators.
  • Individuals or firms trading in a variety of financial markets, including forex, stocks, and commodities.
  • Beginners seeking a user-friendly interface with access to educational resources and community support.

Analysis of Chart.js

Overall verdict

  • Chart.js is a good choice for developers looking for a straightforward solution to incorporate charts into their web projects. Its ease of use, comprehensive documentation, and active community support make it an excellent option for both beginners and experienced developers.

Why this product is good

  • Chart.js is a popular open-source library for creating charts and graphs in web applications. It is valued for its simplicity, ease of use, and ability to create responsive, interactive charts with minimal effort. The library supports a wide range of chart types, including line, bar, radar, doughnut, pie, polar area, bubble, and scatter charts. Chart.js also provides customization options, allowing developers to tailor the look and behavior of their charts to fit their specific needs.

Recommended for

  • Web developers who need to quickly implement charts in their applications.
  • Teams looking for a lightweight and performant charting library.
  • Projects where customization and responsiveness of charts are important.
  • Beginner developers who want to learn and implement basic data visualization techniques.

MetaTrader5 videos

+ Add

Which Forex Trading Platform is BEST? (MetaTrader 4 vs cTrader)

More videos:

  • Review - Why I Switched From MetaTrader to TradingView - TradingView Review
  • Review - MetaTrader 5 - Forex Trading Platform Review and Introduction

Chart.js videos

+ Add

1.3: Graphing with Chart.js - Working With Data & APIs in JavaScript

More videos:

  • Tutorial - How to Build Ionic 4 Apps with Chart.js

Category Popularity

0-100% (relative to MetaTrader5 and Chart.js)

MetaTrader5

Chart.js

Finance
100 100%
Finance
0% 0
Charting Libraries
0 0%
Charting Libraries
100% 100
Investing
100 100%
Investing
0% 0
Data Visualization
0 0%
Data Visualization
100% 100

User comments

Share your experience with using MetaTrader5 and Chart.js. For example, how are they different and which one is better?
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Reviews

These are some of the external sources and on-site user reviews we've used to compare MetaTrader5 and Chart.js

MetaTrader5 Reviews

TradingView Alternatives For Budget Conscious Traders
MetaTrader platforms are known for their many features including robust alert systems and the ability to “hijack” the visual backtester to perform full replays during backtesting. These platforms support algorithmic trading through Expert Advisors (EAs) and have a large library of custom indicators and trading tools. While MT4 and MT5 are very versatile they require a...
Source: medium.com
Top 8 Forex Tester Alternatives in 2024
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely-used trading platforms that include basic backtesting functionalities. These platforms are popular due to their availability and versatility, but they come with some limitations.
Source: forextester.com
5 MetaTrader alternatives for Apple devices (Jan 2023)
iOS devices with MetaTrader apps already installed can continue to use them, but they will not receive software updates, creating potential security risks. The problem does not affect Android mobile devices because MetaTrader platforms continue to be freely downloaded and installed from Google PlayStore. But this is not a solution for the millions of users who have no...
Source: smnweekly.com
Alternatives to MetaTrader
The brokers that support MetaTrader and other similar platforms purchase the rights to the software; the servers are run by the broker, and it’s just the software itself that is supplied by MetaQuotes, the company that developed MetaTrader.
Source: investingreviews.co.uk
What Are The Alternatives To MetaQuotes' MetaTrader MT4 And MT5 Platforms For Brokers?
It has been over 2 weeks since LiquidityFinder broke the story on Saturday 24th September that Apple had removed MetaQuotes' MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps from its App Store. This move by Apple, with still no official explanation from either Apple or MetaQuotes, has left a huge amount of uncertainty in the trading industry, both for brokers and end clients....
Source: liquidityfinder.com

Chart.js Reviews

6 JavaScript Charting Libraries for Powerful Data Visualizations in 2023
Of the free libraries on this list, ECharts has the widest range of chart types available, second only to D3. Unlike D3, ECharts also ranks highly on the user-friendliness scale, although some users find ApexCharts and Chart.js even easier to use. You can check out some examples of basic charts on ECharts.
Source: embeddable.com
5 top picks for JavaScript chart libraries
Chart.js is a chart library that is available as a client-side JavaScript package. There are also derivatives for other frontend frameworks, like React, Vue, and Angular. It displays the chart on an HTML canvas element.
Source: blog.logrocket.com
Top 10 JavaScript Charting Libraries for Every Data Visualization Need
Chart.js is a simple yet quite flexible JavaScript library for data viz, popular among web designers and developers. It’s a great basic solution for those who don’t need lots of chart types and customization features but want their charts to look neat, clear and informative at a glance.
Source: hackernoon.com
A Complete Overview of the Best Data Visualization Tools
Chart.js uses HTML5 Canvas for output, so it renders charts well across all modern browsers. Charts created are also responsive, so it’s great for creating visualizations that are mobile-friendly.
Source: www.toptal.com
The Best Data Visualization Tools - Top 30 BI Software
Chart.js is better for smaller chart projects. It’s open source and small in size, supporting six different types of charts: bar, line, pie, radar, doughnut, and polar. You can also add or remove any of these 6 types to reduce your footprint. Chart.js uses HTML5 Canvas and ships with polyfills for IE6/7 support. Chart.js offers the ability to create simple charts quickly.
Source: improvado.io

Social recommendations and mentions

Based on our record, Chart.js seems to be more popular. It has been mentiond 1 time since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

MetaTrader5 mentions (0)

We have not tracked any mentions of MetaTrader5 yet. Tracking of MetaTrader5 recommendations started around Mar 2021.

Chart.js mentions (1)

  • Chart library for Svelte?
    Https://chartjs.org works well, but you have to call the update function yourself if you want to do some reactive updates. Source: about 4 years ago

What are some alternatives?

When comparing MetaTrader5 and Chart.js, you can also consider the following products

TradingView - The best charting tool for crypto and stocks

D3.js - D3.js is a JavaScript library for manipulating documents based on data. D3 helps you bring data to life using HTML, SVG, and CSS.

eToro - The social investment network that connects traders from around the globe and enables them to share...

Highcharts - A charting library written in pure JavaScript, offering an easy way of adding interactive charts to your web site or web application

Robinhood - Free stock trading service.

Plotly - Low-Code Data Apps

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