Metatrader 5 is currently in development. It will be released soon after the release of MQL5. The development of MQL5 is in closing stage. Read more information here:

Interview with Stanislav Starikov, leading programmer of MQL5 about the development of Metatrader 5 and MQL5

Impressions from the MetaQuotes workshop entitled "MetaTrader 5 - Next Generation Trading Platform

Suggestions for Metatrader 5

Metatrader 5 and MQL 5 Development - questions and answers

Source: http://metatrader5.blogspot.com/