Charts Toolbar Menu and How to Customize it on MetaTrader 4
The Charts toolbar on the MT4 is shown below.
Before explaining how to use each item listed on this charts toolbar, let's make sure that all the available tools are added to it by customizing it:
- Right Click at the customize button key to the left of this toolbar (Looks like a stack of coins) as shown below.
2. Click customize 3. Add all Tools
How to Customize
After adding the customize window panel will look like:
The tool bar will now look like:
Explanations of Indices Trading Tools Listed
The following tutorial explains how to trade with each of the button keys numbered below:
1: Bar button, sets the chart drawing method to Bars
2: Candlesticks button, sets the chart drawing technique 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 chart to highlight the most recent stock index price candlesticks automatically once it has been clicked. That way the workspace of the stock index prices shows the real time candle that is being quoted in that moment.
7: Chart Shift, shifts the recent stock index 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: Indicators menu shows list of all technical 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 & a trader can change to a different timeframe for the from the one they are using by clicking this periodicity shortcut button key.
10: Stock Indices Step by Step is used to back test manual stock indices systems where a trader places their trading system on a stock indices chart, moves it back for about 2 months, then starts to move it stock indices step by step while at the same time recording where their trading strategy would have given a buy signal or a sell trading signal or an exit signal, just the same way a trader would have traded real time while the stock index prices update.
11: Templates Button Key used to save new templates and load templates that 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. Toolbar will mainly contain the tools that are frequently used by a trader within the MT4 Indices Platform.
