Drawing Bar Charts in MetaTrader 4

The third option on the charts menu in MT4 platform is the 'Bar Chart' button key. This button key is used to choose the drawing technique of stock indices instrument movement as price bars.

To trade on charts a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select this option on the MT4 software.

These are drawn using color programming:

• Red bar - Price went down
• Blue bar - Price market went up

These bars also have horizontal line to the left & to the right: these are used to show the opening (left horizontal dash) and the closing (right horizontal dash).

highest point portrays the high of the price

The Lowest point shows the low of the price

These four points Open, High, Close & Low are Known as O.H.C.L, the abbreviation of first letter for these four levels, these Four OHCL zones will be represented on each & every single price bar.

The charts aren't very popular among Stock traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.