Six languages carry most of the automated trading running today: Tide on eTrader, MQL5 on MetaTrader 5, MQL4 on the MetaTrader 4 accounts still live, C# inside cTrader Algo and again inside NinjaScript on NinjaTrader, and Pine Script on TradingView. Picking a platform for algorithmic trading is really picking one of those six ecosystems, since a robot written for one rarely moves to another without a rewrite.
We build eTrader and Tide, so we open by saying that plainly. Everything below about the other five is drawn from what their own makers publish about backtesting, language and where a strategy actually has to run.
Six languages, one comparison
| Platform | Language | Backtesting | Runs without a computer on |
|---|---|---|---|
| eTrader | Tide | On the firm's own price history, inside eTrader Code | Yes. Robots run in SGHK's cloud; the trader's computer can stay off |
| MetaTrader 5 | MQL5 | Multi-threaded Strategy Tester | No. The terminal has to stay open, on the trader's computer or a rented VPS |
| MetaTrader 4 | MQL4 | Single-threaded Strategy Tester, the version MQL5 was built to replace | No. Same requirement as MetaTrader 5, terminal open on a computer or VPS |
| cTrader | C# (cTrader Algo) | Built into cTrader itself | No. cTrader has to stay open, on the trader's computer or a VPS |
| NinjaTrader / Tradovate | NinjaScript (C#) | Built into the NinjaTrader desktop app | No. NinjaTrader typically runs on the trader's own machine |
| TradingView | Pine Script | Strategy Tester tab on the chart | Partly. Alerts fire from TradingView's servers with the browser closed; a live order still needs a broker integration |
1. eTrader: Tide, running in the cloud
eTrader's automated trading runs on Tide, the platform's own language, written and tested in eTrader Code at code.etraderweb.com or in the Mac app. The editor flags mistakes as the trader types, prices and lot sizes are separate types so a wrong value fails before it can place an order, and every robot backtests on the firm's own price history before it goes live. Once a robot passes, it runs in Trade mode or Signals only mode inside SGHK's cloud, so the trader's computer can be off while it works. Traders who would rather not code build AI Traders from blocks in eTrader AI instead. The honest cost: Tide does not read MQL4, MQL5, C# or Pine Script, so a robot built for another platform is rewritten rather than imported, and eTrader's third-party library of ready-made robots is smaller than MetaTrader's simply because the platform is younger.
2. MetaTrader 5: MQL5
MetaTrader 5 runs robots and indicators written in MQL5, tested in a Strategy Tester that MetaQuotes made multi-threaded, so a strategy can be optimized across many parameter combinations at once. The MQL5 Market and community hold by far the largest library of ready-made robots, indicators and scripts of any platform on this list, which is the main draw for a trader who would rather buy a strategy than build one. A live MQL5 robot needs the terminal open and connected, whether that is the trader's own computer or a VPS rented to keep it running around the clock.
3. MetaTrader 4: MQL4, the language MQL5 replaced
MetaTrader 4 runs the earlier MQL4 language: fewer built-in functions, no native object orientation and a slower, single-threaded strategy tester next to MQL5's. MQL4 robots still trade on the MT4 accounts that remain active, and a developer moving from MQL4 to MQL5 is not starting from nothing, since the syntax is close. New development on MetaTrader, though, is generally aimed at MQL5 rather than the language it superseded.
4. cTrader: C# and cTrader Algo
cTrader Algo lets a trader write cBots and indicators in C#, Spotware's choice for developers who already know the .NET ecosystem rather than a trading-specific scripting language. Backtesting runs inside cTrader itself, and a cBot's logic can read the same Level II depth of market a human trader sees on screen. Like an MQL5 robot, a cBot generally needs cTrader running somewhere, on the trader's own machine or on a VPS.
5. NinjaTrader and Tradovate: NinjaScript for futures
NinjaTrader is built for futures traders, and its strategies are written in NinjaScript, also based on C#. Backtesting and strategy development happen inside the NinjaTrader desktop application itself, and a live strategy typically runs on the trader's own computer, kept on, or a dedicated machine set up for that purpose. Tradovate, in the same corporate group as NinjaTrader, is the futures platform many of the same traders use for order routing and account management alongside NinjaTrader's charting and automation tools.
6. TradingView: Pine Script, for charts and alerts
Pine Script writes indicators and strategies that run inside TradingView's own charts, with a Strategy Tester tab built into every chart for backtesting. A Pine strategy can fire an alert the moment its logic triggers, and that alert runs on TradingView's own servers even with the browser closed, which is a real difference from an MQL5 or NinjaScript robot that needs its own terminal open. What Pine Script does not do by itself is place a live order: turning an alert into an executed trade needs a broker integration or a third-party bridge. TradingView is the charting and signal layer brokers connect to, not a platform a firm runs its own book on.
How to choose based on what you already run
A firm whose traders already depend on a specific MQL5 robot should keep MetaTrader for them and not force a rewrite nobody asked for. A futures-focused prop desk belongs on NinjaTrader or Tradovate, since eTrader's own instrument list, about 580 instruments across forex, metals, indices, energy, crypto, US stocks and ETFs, bonds and 24/7 products, does not include exchange futures contracts. For everything else, the practical question is whether you want to run a VPS at all. eTrader is the one platform here where the answer to that question is no: robots and AI Traders run in SGHK's cloud, and TradingView complements any of these platforms for charting and alerts without needing a computer on to raise them. See our algorithmic trading basics guide for how a beginner should think about the choice, our note on indicators versus EAs, and our piece on backtest overfitting before trusting any strategy tester's results too far. More on writing robots in Tide is in what is eTrader Code.
Try the languages side by side before committing a book of clients to one. eTrader is free to explore in a browser, and a short call will show a Tide robot backtesting on real price history in minutes.
"A robot that only runs while someone's laptop is open is not really automated. It is a laptop with extra steps."
— The SGHK Team
Key Takeaways
- Six languages cover most automated trading: Tide, MQL5, MQL4, C# in cTrader Algo, NinjaScript on NinjaTrader, and Pine Script on TradingView.
- MQL5, MQL4, C# cBots and NinjaScript strategies all typically need a terminal open, on the trader's computer or a VPS.
- eTrader robots and AI Traders run in SGHK's cloud, so the trader's computer can be off while they trade.
- Pine Script alerts run on TradingView's servers, but a live order still needs a broker integration; eTrader does not cover exchange futures, so NinjaTrader or Tradovate fits a futures desk better.
Frequently Asked Questions
What language does eTrader use for robots?
Tide, eTrader's own language, written and backtested in eTrader Code. It is not compatible with MQL4, MQL5, C# or Pine Script, so a strategy built elsewhere is rewritten rather than imported. Traders who do not code can build an AI Trader from blocks instead.
Do MQL5 robots need a VPS?
Not strictly, but the MetaTrader terminal has to stay open and connected for a robot to keep trading, so most traders run it on their own computer around the clock or rent a VPS to avoid leaving a personal machine on.
Can a TradingView strategy place real trades on its own?
No. A Pine Script strategy fires an alert from TradingView's own servers, but turning that alert into a live order needs a broker integration or a third-party bridge. TradingView is the charting and alert layer, not the execution venue.
Is eTrader suitable for futures algo trading?
No. eTrader's instrument list covers forex, metals, indices, energy, crypto, US stocks and ETFs, bonds and 24/7 products, not exchange futures contracts. A futures-focused algo desk is better matched to NinjaTrader or Tradovate.
About SGHK
SGHK is a FinTech company that designs and builds its own software for the trading industry: the eTrader trading platform, Launch your Broker and Launch your Prop Firm. Every product is written, hosted and supported in-house and licensed to trading firms, with the CRMs branded to them, all hosted by us in the cloud, managed by each firm and built to scale across clustered servers as our clients grow. Everything is encrypted, and each firm is the only one with access to its data and its clients' data.