Drawing Line Charts in MetaTrader 4

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

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 gold price line that connects the closing gold prices of a xauusd instrument leaving out all other data.

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

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

For this reason this charting technique isn't popular among technical traders & therefore not widely used.