In a recent news on Linux 4.19 kernel it was noted they added CAKE (Common Applications Kept Enhanced - https://www.bufferbloat.net/projects/codel/wiki/Cake/) network algorithm which will better use network bandwidth with lower CPU usage. They also claim it'll be more 'fair' approach to fill given channel so people will be happy.

Which network algorithms are built in in ROS now, how can I choose one over others (if any), and if there any plans to add CAKE one day (which may be a plus for many cases).

Thank you!

Mikrotik RouterOS has no modern AQM (Active Queue Management), i.e. modern network queue scheduling algorithms support, unfortunately.

RouterOS only supports ancient RED (Random Early Drop) which is magnitudes less effective than modern algorithms and also requires careful tuning to be of any real use, unlike like fq_codel and CAKE. It does not even support the old Codel.

If you need such active queuing support, you should look to other manufacturers, e.g. Ubiquiti or build your own with an x86 box and OpenWRT/Linux. You could also insert such boxes in between your existing Mikrotik router and upstream devices, so acting as a bump-in-the-wire.

Mikrotik RouterOS has no modern AQM (Active Queue Management), i.e. modern network queue scheduling algorithms support, unfortunately.

I'm impressed. Really. Besides making new sophisticated devices ROS won't play well even at basics! :(

I am a fan of qos in mikrotik, I have tried everything, pcq, sfq, pfifo, etc and in general the qos in mikrotik works very well.
But for gaming, voip, streaming, and where the milliseconds are important, mikrotik needs more speed and precision for schedule the packets.
the new algorithms like CAKE are achieving excellent results for this type of traffic and traffic in general.
adding this new functionality would be an excellent complement to all the features of mikrotik.
This functionality and its incredible prices would further extend its use
Please add the functionality

What CoDel & Cake offer is "automatic" classification and scheduling of traffic on up/down-load. Unfortunately the "automatic" part is not "magic": it relies on connection meta-data and packet priotisation flags (DSCP). The last condition is where it hurts: little applications actually use these...
The strength it does posses, is that is tries to reduce the effect of buffers on latency automatically.

Mikrotik doesn't offer any automatic bandwidth management at this time, but it does offer tools to do manual bandwidth mgmt achieving similar quality. As Mikrotik was oriented to power / knowledgeable users & industry, that was enough.
With recent orientation to (casual) end-users, I would expect for such algorithm to become available out of the box in future.