Charts Toolbar Menu and Customizing it on MetaTrader 4
The Charts toolbar on the MetaTrader 4 is shown below.
Before explaining how to use each item listed on this charts tool-bar, let's make sure that all the available tools are added to it by customizing it:
- Right-Click at the customize button to the left of this toolbar (Looks like a stack of coins) as displayed below.
2. Click customize 3. Add all Tools
How to Customize
After adding the customize window panel will look like:
The toolbar will now look like:
Explanations of XAUUSD Trading Tools Listed
The following guide explains how to trade with each of the buttons numbered below:
1: Bar button, sets the chart drawing method to Bars
2: Candlesticks button, sets the chart drawing method to Candlesticks
3: Line button, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms the chart to highlight the most recent gold trading price candlesticks automatically once it has been clicked. That way the workspace of the gold trading prices shows the real time candlestick that is being quoted in that moment.
7: Chart Shift, shifts the recent gold trading price candlestick towards the center, therefore leaving space between the most recent candlestick and the extreme right side of the MT4 platform, making it easier for technical analysis.
8: Trading Indicators menu shows a list of all trading indicators & from this list a trader can select a particular indicator, double-click on it to place it on the trading panel.
9: Periodicity displays all the chart timeframes and a trader can change to a different time frame for the from the one they are using by clicking this periodicity shortcut button.
10: XAUUSD Step by Step is used to back test manual xauusd systems where a trader places their trading system on a xauusd chart, moves it back for about 2 months, then starts to move it xauusd step by step while at the same time recording where their strategy would have given a buy signal or a sell signal or an exit trading signal, just the same way a trader would have traded realtime while the gold prices update.
11: Templates Button used to save new templates & load templates which have been saved on the platform.
All the buttons provide short cuts instead of traders looking for these option the long way using the main navigation menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the tools that are frequently used by a trader within the MT4 XAUUSD Platform.
