Drawing Bar Charts in the MT4 Software

The third option on the MT4 charts menu is the “Bar Chart” button. Hit this to display price movement as price bars.

Traders often pick bar charts for stock views. The menu button above shows how to pick it on MT4.

They Use Color Codes for Drawing

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

These graphical bars also feature markings on the left and right edges: these serve to denote the initial price (the short dash on the left) and the final price (the short dash on the right) for that period.

The highest point shows the high of the market price

Lowest point shows the low of the market price

These four points, Open, High, Close, Low, are known as O.H.C.L., which is short for the first letter of each level: these OHCL levels show on every single price bar.

These chart types are generally less favored by traders because they are considered less visually appealing for detailed analytical work, leading traders to prefer alternative visualizations.

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Drawing Bar Charts in the MT4 Software