MT4 Candlesticks Stock Indices Charts
A Indices chart is a graphical representation of stock indices trading price movement of a indices instrument over a given period of time.
Drawn on a grid and the user is at liberty to select which indices chart timeframe they want to trade with. Trader might select to use hourly stock indices charts, daily charts or even 1 minutes chart time frames.
To draw stock indices charts, three techniques are used. Techniques used to draw the indices charts defines the type of stock indices chart.
The three types of indices charts are: - Candlesticks Stock Indices Charts - Bar Stock Indices Charts
- Line charts
- Bar charts
- Candles indices charts - Most popular
Line Stock Indices Chart
A single line is drawn from one closing stock indices trading price to the next, forming a continuous line.
This type of stock indices chart provides very little data on the chart & is therefore not very popular among stock indices traders. In fact this type of stock indices chart gets rarely used by traders.
Line Chart in Indices Trading - This type of stock indices chart leaves out important information about stock indices trading price movement. Information such as opening, high and low point of the stock indices price that are not represented on the graph.
This makes this type of indices line stock indices chart to be considered sketchy by stock indices trading technical analysts.
The stock indices chart below shows example of a indices line stock indices chart.
Bar Chart
Bar Stock Indices Charts - This type of stock indices chart shows the opening, closing, the high and the low, for a particular stock indices trading price interval and is represented by bars that look like ones drawn below - hence its name bar charts
- Bar Stock Indices Charts - bar stock indices chart has a vertical bar showing the total stock indices trading price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High & low denoted by the highest & lowest point
However, these indices trading bar stock indices charts are not very easy to work with, especially when they are not magnified. It becomes very hard to interpret the bar charts with ease when trading the stock indices trading market thus making them not very popular among stock indices traders.
A Bar chart that is not magnified makes it hard to view the opening & closing stock indices price as illustrated by this example:
Candle Chart
Indices Candlesticks Trade Charts - This is the most widely used type of stock indices charts, they resemble candles, thus their name - candlesticks stock indices charts.
Candlesticks charts shows the opening, closing, high and the low of a particular stock indices trading price interval.
The range between the open stock indices price & the close stock indices trading price is known as body of the candlestick.
Indices candlesticks charts is the most popular type of indices charts among online traders because it is easiest to interpret when trading the stock indices trading market. Indices candlestick charts also gives a lot of data about the stock indices trading price movement. This makes candlesticks charts the most widely used type of charting in Indices.
Indices Candles Trading Charts
Shown Below is example of candles stock indices charts. To learn and know more about candlesticks stock indices charts, read this topic: Technical Analysis of Japanese Candles Patterns in Indices Trading.
How to Select These Stock Indices Chart Types on MetaTrader 4 Software
To draw any of these types of indices charts on the MT4 Platform a trader can use the buttons below found on this MetaTrader 4 software.
Drawing Indices Charts in MetaTrader 4
- To Choose a Bar Chart Click the Bar Button
- To Choose a Candles Chart Click the Candlestick Button Key
- To Select a Line Stock Indices Charts - Click the Line Button
