Charts Toolbar Menu and Customizing it on MetaTrader 5
The Charts MT5 toolbar on the MetaTrader 5 is shown below.
Before explaining how to use each item listed on this charts tool-bar, let's make sure that all the available tools are added to it by customizing it:
- Right Click at the customize button to the left of this MT5 tool-bar (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 MT5 toolbar will now look like:
Explanations of Stock Trading Tools Listed
The following guide explains how to trade with each of the buttons numbered below:
1: Bar button key, sets the chart drawing technique to Bars
2: stocks candles button key, sets the chart drawing technique to Candlesticks
3: Line button key, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms trading chart to highlight the most recent stocks price stocks candlesticks automatically once it has been clicked. That way the workspace of the stocks prices shows the real time candlestick that is being quoted in that moment.
7: Chart Shift, shifts the recent stocks price candlestick towards the center, therefore leaving space between the most recent candlestick and the extreme right side of the MT5 Stocks Platform, making it easier for stocks technical trading analysis.
8: Technical Indicators menu shows list of all trading 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 and a trader can change to a different timeframe for from the one they are using by clicking this periodicity shortcut button.
10: Stocks Step by Step is used to back test manual stocks systems where a trader places their trading system on a stocks chart, moves it back for about 2 months, then starts to move it stocks step by step while at the same time recording where their 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 stocks prices update.
11: Templates Button used to save new templates & load templates that have been saved on the platform.
All the button keys provide short cuts instead of traders looking for these option the long way using the main navigation menu, a trader just clicks a tool and gains quick access to it. The MT5 toolbar will mainly contain the tools that are frequently used by a trader within the MT5 Stocks Platform.