Trade Stock Indices

Learn Stock Indices Trading

Drawing Candlesticks Charts in MT4 Platform

The fourth option on the MetaTrader 4 charts menu is the candlesticks button - used to select the chart to trade with as candlesticks.

Candlesticks Charts on Charts Menu in MT4 Platform


To trade with these candlesticks, the above buttons shows where a trader should select the button do choose this option.


These are drawn using also color coding:

Red - Indices Price went down


Blue - Indices Price went up


This chart type is also preferred by many traders because they are more appealing for technical analysis and easier to trade with. A lot of information can be analyzed from these charts.


These will show the Opening, High, Low, Closing price of a particular time period. This is abbreviated OHCL.


The body of the candlesticks will show indices trading instrument movement that was within the opening and closing price of a particular trading period - it is also used to determine a lot of information. For example in the above chart the long blue body meant there were a lot of buyers and therefore the price movement was likely to continue in the upwards bullish trend direction.


The upper and lower shadow, the wicks of the candlestick will show the highest point and the lowest point that the price reached.



Japanese Candlesticks Tutorials

The Japanese patterns tutorials can be used to learn how to determine trend reversal signals or trend continuation signals from the different patterns and formations.


To learn more about the various Indices trading strategies for trading these patterns, a trader can read these tutorials:


Japanese Candlesticks Tutorial

Marubozu and Doji

Spinning Tops

Reversal Patterns

Inverted Hammer Candlestick Pattern and Shooting Star Candlestick Pattern

Piercing Line Candlestick Pattern and Dark Cloud Cover Candlestick Pattern

Morning Star Candlesticks and Evening Star Candlesticks


 

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