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 stock index price line that connects the closing stock index prices of a stock indices instrument leaving out all other data.

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

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

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