How Do I Interpret MetaTrader 4 Charts?
How Do I Interpret MetaTrader 4 Charts?
There are Three types of MetaTrader 4 Charts used in Indices:
MT4 Line Charts - MetaTrader 4 line charts plot a continuous line connecting/joining closing prices.
How Do I Interpret MetaTrader 4 Charts? - How Do I Read MetaTrader 4 Charts?
Meta Trader 4 Bar Charts - MT4 bar stocks charts are illustrated as a sequence of O-H-C-L bars. OHCL represents OPEN HIGH LOW and CLOSE. The Opening price is illustrated as a horizontal dash hyphen on the left & closing price is illustrated as a horizontal dash hyphen on the right.
How Do You Analyze MetaTrader 4 Charts? - How Do I Read MetaTrader 4 Charts?
The main disadvantage of MetaTrader 4 bar stock chart - MT4 Bar Chart is that it is not visually appealing and identifiable, henceforth most traders don't use MetaTrader 4 Bar Charts.
Candles Chart MT4 Candle-sticks Charts - these MT4 candles charts use the same price information as MT4 bar charts (open price, high price, low price, & close price). However, MT4 candles charts are presented in a more visually identifiable way which looks like a candle with wicks on both its ends.
How to Analyze Candles MetaTrader 4 Charts
rectangle part of the MetaTrader 4 candle stick is called the body.
The high price and low stock trading price are referered to as shadows and are drawn as poking and protruding lines.
How Do You Interpret MT4 Charts - How Do I Trade MT4 Charts?
color of MetaTrader 4 trading candle is either blue or red:
- (Blue or Green Colour Candlesticks) - Prices moved up
- (Red Colour Candlesticks) - Prices went down
Most platforms such as and like the MetaTrader 4 Stock Software - uses colors to mark the direction of the price. MetaTrader 4 Candles Chart colour used are blue or green: when price moves upward, color of MetaTrader 4 Candle is blue: when price moves downwards, color of MetaTrader 4 Candle is red.
How Do You Interpret MT4 Charts?
When MT4 candles charts are used it's very easy to see if the prices moved upward or downward as compared to when MT4 bar stocks charts are used.
Japanese candle charts techniques also have very many various types of setups - the most common are:
MT4 Chart Analysis
The above MetaTrader 4 Charts Analysis is what makes the MetaTrader 4 Candle-sticks Chart Analysis popular among traders & it this why this type of technical MetaTrader 4 Chart analysis is the most widely used when it comes to analyzing the market.
How Do You Read MetaTrader 4 Charts?
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- How to Trade Dow Jones Index in MT5 Platform
- Learn Bollinger Bands Index Trading Strategy for Beginner Traders
- How to Add Fibo Pullback Levels in Trading Charts
- How to Analyze a Upward Trend on Trading Charts
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