Drawing Bar Charts in MT4

The third option on the trading charts menu in MetaTrader 4 platform is the "Bar Chart" button. This button key is used to choose the drawing method of price movement as price bars.

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

These are drawn using color coding:

Red bar - Price moved downwards
Blue bar - Price moved upwards

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

The highest point shows the high of the market price

Lowest point shows the low of the market price

These 4 points Open, High, Close, Low are Known as O.H.C.L., abbreviation of the first letter for these four levels, these four OHCL levels will be represented on each & every single price bar.

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

Get More Lessons and Tutorials and Topics:

Trade Stock Indices

Drawing Bar Charts in MT4