Charts ToolBar Menu & How to Customize it on MetaTrader 4
The Charts toolbar on the MetaTrader 4 is illustrated below.
Before explaining how to use each item listed on this charts tool-bar, let's ensure all the available trading tools are added onto it by customizing it:
- Right-Click at the customize button to the left toolbar (Looks like a stack of many coins) like shown below.
2. Click customize 3. Add all Tools
How to Customize
After adding customize panel window will look like:
The tool-bar will now look like:
Explanations of Stock Tools Listed
The following guide describes how to trade with each of the buttons numbered below:
1: Bar button, sets the chart drawing method to Bars
2: Candles button, sets the chart drawing method to Candles
3: Line button, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms chart to highlight the most recent stock price candlesticks automatically once it has been click. That way the workspace of the prices shows the realtime candle that is being quoted in that moment.
7: Chart Shift, shifts the recent stock price candle-stick towards the center, therefore leaving space between the most recent candle and the extreme right side of the MetaTrader 4 platform, making it easier for trading analysis.
8: Indicators menu indicates listing of all indicators and from this listing a trader can select a particular trading indicator, double click on it to place it on the trading panel.
9: Periodicity displays all the chart time frames & a indices trader can change to a different time frame for the from the one they're using by clicking this periodicity shortcut button.
10: Indices Step by Step is used to backtest manual indices systems where one places their system on a stock chart, moves it back for about two months, then begins to move it trading step by step & at the same time recording where their strategy would have given a buy stock signal or a sell stock trading signal or an exit trading signal, just the same way a trader would have traded real time while the prices update.
11: Templates Button Key used to save new templates and load templates that have been saved on the platform.
All the buttons provide short-cut instead of traders looking for these option through the long way using main navigating menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the trading tools that are frequently used by a stock index trader within the MT4 Software.
Study More Topics and Courses:
- RSI Swing Failure Index Trade Setup Strategies
- How to Trade JP225 on MT5 Platform Software
- About Index
- MetaTrader 4 Stock Index Charts Bar and Charts Tabs
- CAC 40 Strategies Guide
- How is Nikkei225 Traded on the MT4 Trade Platform?
