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Yohaku
10/15/2026 23:00
Release： 10/15/2026 23:00
Update： 10/16/2026 08:46
Yohaku
Investment style : Day Trade
Investment career : More than 10 years
Investment amount : 5 million - 10 million JPY
We study logic daily...
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Three MT4/MT5 tools that do not place orders: Owned Watchlist (free) · MT5 Migration Assist · Recovery Checker

This is Yohaku, making MT4/MT5 indicators and useful tools. On October 14, 2026, I released MT5 Migration Assist, and on the 15th, Holdings Watch (Free) on Gogojan. Recovery Checker was released on the 16th. This is the follow-up article continuing the three items introduced previously, including the automatic lot calculation panel. The price is not written here; please check the product pages.

In Short

  • Holdings Watch (Free) monitors your open positions’ unrealized P/L, holding time, number of positions, total lots, and daily P/L, and will notify you once if a defined limit is exceeded.
  • MT5 Migration Assist exports the charts open in MT4, the lines drawn, and the standard indicator settings, and recreates them in MT5. Items that could not be migrated are listed with their names and settings.
  • Recovery Checker, after MT4/MT5 or VPS restarts, checks whether chart EAs, positions, and automated trading permissions are the same as before and sends the results to your smartphone. None of the three will place orders or execute trades.

Reason for Creating

From Gogojan reviews, questions, and voices on X, the following problems repeated themselves.

  • Too large lots relative to margin, leading to exit from the account before realizing it (especially GOLD). Unable to cut losses and maintain monthly performance. Always want to monitor daily loss limits that include realized and unrealized portions of the account.
  • MT4 feels like it’s over, so I want to move to MT5, but migrating would require rebuilding charts and indicators, which is burdensome. In reviews and questions, there were 24 requests (19 products) to use MT4-only tools on MT5 as well.
  • After restarts of VPS or PC, EAs might detach or automated trading might turn off, and users can’t notice. It’s crucial that notifications and status return after a restart, some voiced.

There are voices saying it’s scary to use tools that touch the account as unknown individuals, so this time the three tools are designed to only view, notify, and capture, without placing orders.

1. Holdings Watch (Free)

What it can do

  • Watch the open positions with five numbers: unrealized P/L (amount and as a percentage of balance), the longest holding time, the number of simultaneous holdings, total lots, and daily P/L (realized P/L for the day plus current unrealized P/L).
  • If you set upper limits (in amount or percentage) for each, colors change at 80% of the limit and turn red when exceeded. When exceeded, it will alert once via sound, popup, and smartphone notification, and record it in a log file. If it remains over the limit, it won’t re-notify until it returns below and then exceeds again.
  • Monitoring scope can be chosen from entire account, just that symbol, or by Magic Number (EA). It also shows how long it took for the drawdown from the maximum unrealized loss to return halfway or to zero. The day boundary can be set to broker’s 0:00 or Japan time 0:00.

What it cannot do / cautions

  • It only notifies. It does not close positions or modify lots. What to do is up to the user.
  • Because the indicator form, it can also be attached to charts running EAs. There is no Web authentication, and DLL usage permission is not required.
  • Smartphone notifications arrive only when MT4/MT5 has MetaQuotes ID configured (confirmed messages reach iPhone from MT5). It does not watch while MT4/MT5 are closed.

2. MT5 Migration Assist

What it can do

  • Two-part process: “Export” for MT4 and “Import” for MT5. Exports the symbol, timeframe, appearance of all open MT4 charts, drawn lines (horizontal lines, trendlines, Fibonacci, rectangles, text, etc.), standard indicators and their settings into a single file, and recreates the same charts in MT5.
  • Replaces MT4’s 29 standard indicators with the same indicators in MT5 (transferring period, method, and types of prices). Items that were in separate windows are moved to separate windows.
  • If symbol names differ between MT4 and MT5 (e.g., USDJPY vs USDJPY.m, XAUUSD vs GOLD), they are aligned in a fixed order. Those that don’t match can be documented in the settings.
  • Items that could not be migrated (MT4-exclusive custom indicators, EAs, or missing symbols) are listed with names and settings and saved to a file. This can be used to inquire the author whether an MT5 version exists.

What it cannot do / cautions

  • MT4-exclusive custom indicators (ex4) and EAs cannot be converted. It only lists them.
  • Indicator colors, line thicknesses, and horizontal levels remain MT5 defaults. Lines and buttons drawn by other tools are not transferred by default.
  • There is a step to copy one exported file into MT5’s folder (this is how it is transferred even on the same PC). The file does not contain account numbers or server names.
  • Import (MT5) requires Web authentication and is fixed to the initial MT5 account; “Allow DLL imports” is required. Export (MT4) has no authentication.

3. Recovery Checker (Released October 16)

What it can do

  • Attach it to one chart; it records every minute the open chart, its EAs and indicators, positions and pending orders, and permissions for automated trading and DLLs.
  • When MT4/MT5 starts (after PC or VPS restart) or after waking from sleep, it compares the previous log with the current state. It counts disappeared charts, detached or changed EAs/indicators, missing or added positions and orders, disabled automated trading, and detached DLL permissions, and informs you via smartphone and panel with “OK” or “Needs attention ◯ items.”
  • Even when there are no problems, it sends a check result so you can see the notification is alive. It also sends a “Running” notification once daily at a fixed time (default 9:00).

What it cannot do / cautions

  • It only notifies. It does not reattach EAs or turn automated trading back on, and it does not place or close orders.
  • If the PC stops, this tool also stops. The mechanism is that you notice because the daily “Running” notification doesn’t arrive.
  • Because it is an EA form to guarantee it runs when MT starts, it is placed on a separate chart from other EAs. It runs even if the auto-trade button is off.
  • Web authentication is required (account-fixed and DLL permission required). For MT5, if MT5 starts before you go online, authentication may fail and detach. If you auto-start MT5 on PC or VPS, delay the start by 60–120 seconds (instructions are in the manual).

What I Verified Before Release

  • Both MT4 and MT5 compile with zero warnings (as of October 9, 2026: Holdings Watch 8, MT5 Migration Assist 6, Recovery Checker 6; including test versions).
  • Holdings Watch: self-test of calculations passed 47 items on MT4 and MT5. In a demo account, when the max holdings was set to 1 and you held two, it notified once; when over the limit, it did not notify again until you reduced; and after closing one and returning, it notified again (15 items).
  • MT5 Migration Assist: created four MT4 charts (7 standard indicators, 1 custom indicator, 2 EAs, 8 lines) and exported; compared the exported file contents (17 items) with the recreated MT5 charts (22 items); all 39 items passed. Even the authenticated version downloaded from Gogojan resulted in MT5 authentication passing with the same results.
  • Recovery Checker: while closing test MT4/MT5, removed one chart, removed one EA and one indicator, reduced positions and orders, reopened, and verified that the number of “Needs attention” items matched 28 items in MT4 and MT5 respectively. Self-tests for records and comparisons passed for 49 items each.
  • All three are included in daily automated verification. Running on another Mac’s MT4/MT5 continuously, switching timeframes and symbols, and restarting once a day to see if the panels reset. As of October 9, 2026, all items passed for all three. Tools that do not place orders are set to pass all automated tests and run continuously for 3 days.
  • I created and confirmed functionality on a Mac with Apple Silicon.

The product pages can be opened from the following links.