Trade Forex Trading

MT4 Bar Charts

A Stock Indices Trading chart is a graphical representation of stock price movement of a stock indices instrument over a given period of time.

Drawn on a grid & the user is at liberty to select which chart time-frame they want to trade with. The trader might choose to use hourly charts, daily charts or even 1 minutes chart time-frames.

To draw charts, 3 techniques are used. The techniques used to draw the charts defines the type of stock chart.

The 3 types of charts are: - Bar Charts

  1. Line charts
  2. Bar charts
  3. Candlesticks charts - Most popular

MetaTrader 4 Line Charts

A single line is drawn from one closing price to the next, forming a continuous line.

This type of chart provides very little information on the chart & is therefore not very popular among stock traders. In fact this type of stock chart is rarely used by traders.

Line Chart in Stock Index - This type of chart leaves out important information about price movement. Information such as opening, high & low point of the price that are not represented on the graph.

This makes this type of stock indices line chart to be considered sketchy by technical analysts.

The chart below highlights an example of a stock indices line chart.

MetaTrader 4 Line Charts - Candles Charts - Drawing Trading Candlestick in Software

MT4 Bar Charts

Stock Index Bar Charts - This type of chart shows the opening, closing, the high and the low, for a particular price interval and is represented by bars that look like the ones drawn below - hence its name bar charts

  • Bar Charts - bar chart has a vertical bar showing the total price movement.
  • Left horizontal bar the opening
  • Right horizontal bar the closing
  • High and low denoted by the highest & lowest point

However, these stock indices bar charts are not very easy to work with, especially when they aren't magnified. It becomes very hard to interpret the bar charts with ease when trading the market thus making them not very popular among stock traders.

Bar Charts in Stock Indices - Candle Charts - Bar Charts - How Do I Draw Candlestick Charts in Trading Platform?

MetaTrader 4 Bar Charts in Stock Indices - Candles Charts - Bar Charts

A Bar chart that is not magnified makes it hard to view the opening and closing price as illustrated by this example:

MetaTrader 4 Bar Charts - Candle Charts - Line Charts - Draw Candlestick Charts on Stock Index Software

Broker

MetaTrader 4 Candles Charts

Candles Charts - This is the most widely used type of charts, they resemble candlesticks, thus their name - candle-sticks charts.

Candle-sticks charts portrays the opening, closing, the high & the low of a particular price interval.

The range between the open price & the close price is called the body of the candle.

Stock Indices Trading candles charts is the most popular type of charts among online traders because it is the easiest to interpret when trading the trading market. Stock Indices Trading candlestick charts also gives a lot of information about the price movement. This makes candles charts the most widely used type of charting in Stock Indices.

MetaTrader 4 Candlestick Charts - Index Chart Types Example - How Do You Draw Candlestick Charts on Platform?

Candles Charts

Below is an example of candles charts. To learn more about candles charts, read this topic: Analysis of Japanese Candles Setups in Stock Indices.

MT4 Candles Charts - Line Charts - How Do You Interpret Candlestick Trading Chart Patterns?

How to Select These Chart Types on MT4 Platform

To draw any of the types of charts on the MT4 Platform a trader can use the buttons below found on this MT4 platform.

Bar Chart - Candlestick Chart - Candles Charts - How to Use Candlestick Charts

Drawing Charts on MetaTrader 4

  • To Choose a Bar Chart Click the Bar Button
  • To Choose a Candles Chart Click the Candlestick Button
  • To Choose a Line Charts - Click the Line Button