Charts ToolBar Menu & How to Customize it on MetaTrader 4
The Charts toolbar on the MetaTrader 4 is shown below.
Before explaining how to use each item listed on this charts tool-bar, let's make sure all the available tools are added to it by customizing it:
- Right-Click at the customize button to the left of this toolbar (Looks like a stack of coins) as shown below.
2. Click customize 3. Add all Tools
How to Customize
After adding customize panel will look like:
The tool-bar will now look like:
Explanations of Stock Tools Listed
The following guide explains how to trade with each of the buttons numbered below:
1: Bar button, sets the chart drawing technique 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 clicked. That way the workspace of the prices shows the real-time candlestick 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 candlestick and the extreme right side of the MetaTrader 4 software, making it easier for technical analysis.
8: Indicators menu shows listing of all indicators and from this listing a trader can select a particular indicator, double-click on it to place it on the trading panel.
9: Periodicity displays all the chart timeframes & a trader can change to a different time frame for the from the one they are 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 while at the same time recording where their strategy would have given a buy stock signal or a sell stock trading signal or an exit signal, just the same way a trader would have traded realtime 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 the long way using main navigation menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the tools that are frequently used by a trader within the MT4 Software.
