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Drawing Line Charts in MetaTrader 4 Platform

This is the fifth option on the charts menu within the MetaTrader 4 platform. The line chart button shown below.

Line Chart on Charts Menu in Metatrader 4 Forex Trading Platform

 

 

The line charts are not popular and are not used by many traders as these do not show a lot of information that is useful for technical analysis. This option will only draw a price line that connects the closing prices of a currency pair leaving out all other data.

 

When compared to candlesticks that will show the Opening, the Closing, the Low and the High of price, then the line chart leaves out a lot of information in its graphical representation of market movement.

 

Most of this information is useful and used by most traders when using technical analysis method therefore the candlesticks are preferred because they provide more information for technical analysis.

 

For this reason this charting method is not popular among technical traders and therefore not widely used.

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