Drawing Bar Charts in MetaTrader 5
The third option on the charts menu in MetaTrader 5 platform is the "Bar Chart" button key. This button is used to select the drawing technique of stocks instrument movement as stocks price bars.
To trade stocks trading a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MetaTrader 5 Platform.
These are drawn using color coding:
- Red bar - Stocks Price went down
- Blue bar - Stocks Price market went up
These bars also have horizontal line to the left & to the right: these are used to explain the opening (left horizontal dash) and the closing (right horizontal dash).
highest point shows the high of the stocks price
The Lowest point shows the low of the stocks price
These 4 points Open, High, Close, Low are Known as OHCL, the abbreviation of the first letter for these Four levels, these Four OHCL zones will be represented on each & every single bar.
These charts are not very popular among Stocks traders as they are not very appealing in terms of stocks technical analysis & traders tend to favor other types.
