MT4 Candle Indicator

A Indices Trading chart is a graphical representation of price movement of a instrument over a given period of time.

Drawn on a grid & the user is at liberty to select which chart timeframe they want to trade with. Trader might select to use hourly charts, daily charts or even 1 minutes chart timeframes.

To draw stock charts, three techniques are used. Techniques used to draw the charts defines the type of chart.

The three types of MT4 charts are: - MT4 Candlesticks Charts - MetaTrader 4 Bar Charts

1. Line charts
2. Bar charts
3. Candles charts - Most popular

MT4 Line Chart

A single line is plotted from one closing trading price to the next, forming a continuous line.

This type of chart provides very little data on the chart & is therefore not very popular among stock traders. In fact this type of chart gets rarely used by traders.

MT4 Line Chart in Indices Trading - This type of chart leaves out important information about stock trading price movement. Information such as opening, high & low point of the price that aren't represented on the graph.

This makes this type of line chart to be considered sketchy by stock trade technical analysts.

The chart below highlights example of a line chart.

MT4 Bar Chart

MT4 Bar Charts - This type of chart shows the opening, closing, the high & the low, for a particular stock trading price interval and is represented by bars that look like ones drawn below - hence its name bar charts

• MT4 Bar Charts - bar stock chart has a vertical bar showing the total trading price movement.
• Left horizontal bar the opening
• Right horizontal bar the closing
• High & low denoted by the highest & lowest point

However, these MT4 bar stock charts are not very easy to work with, especially when they aren't magnified. It becomes very hard to interpret the bar charts with ease when trading the market thus making them not very popular among stock traders.

A MT4 Bar chart that is not magnified makes it hard to view the opening and closing price as shown by this example:

MT4 Candle Chart

MT4 Candlesticks Charts - This is the most widely used type of MT4 stock charts, they resemble candle-sticks, thus their name - candlesticks MT4 stock charts.

MT4 Candlesticks charts shows the opening, closing, the high & the low of a particular stock trading price interval.

The range between the open price & the close trading price is known as body of the candlestick.

MT4 candlesticks MT4 charts is the most popular type of charts among online traders because it's easiest to interpret when trading the market. Indices Trading candle charts also gives a lot of data about the price movement. This makes candlesticks MT4 charts the most widely used type of charting in Indices.

Candlesticks Charts

Shown Below is example of candles charts. To learn & know more about candlesticks MT4 stock charts, read this topic: Technical Analysis of Japanese Candles Patterns in Indices Trading.

How to Select These Chart Types on MT4 Platform

To draw any of these types of charts on the MT4 Platform a trader can use the Chart Indicators below found on this MetaTrader 4 platform.

Drawing Charts in Meta Trader 4

• To Choose a Bar Chart Click the MT4 Bar Technical Chart Indicator

• To Select a Candles Chart Click the MT4 Candlestick Technical Chart Indicator

• To Select a Line Charts - Click the MT4 Line Technical Chart Indicator