Drawing Bar Crude Oil Trading Charts in MT4

The third option on the charts menu in MT4 platform is the "Bar Oil Trading Chart" button. This button is used to select the drawing method of crude oil price movement as crude oil price bars.

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

These are drawn using color programming:

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

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

highest point shows the high of the oil price

Lowest point shows the low of the oil price

These 4 points Open, High, Close, Low are Referred to as O.H.C.L, abbreviation of first letter for these Four areas, these Four O H C L zones will be illustrated on each & every single bar.

These charts are not very popular among Oil traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.