MT4 Candlesticks Stock Indices Charts
A Indices chart is a graphical representation of stock indices price movement of a indices trading instrument over a given period of time.
Drawn on a grid and the user is at liberty to choose which indices chart timeframe they want to trade with. The trader may choose to use hourly stock indices charts, daily indices charts or even 1 minute indices chart timeframes.
To draw stock indices charts, three methods are used. The methods 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
- Candlesticks indices charts- Most popular
Line Indices Chart
A single line is drawn from one closing stock indices price to the next, forming a continuous line.
This type of stock indices chart provides very little information on the chart and is therefore not very popular among stock indices traders. In fact this type of stock indices chart is rarely used.
Line Indices Chart in Indices Trading - This type of stock indices chart leaves out important information about stock indices price movement. Information such as opening, high and low point of the stock indices price which 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 an example of a indices line stock indices chart.
Bar Indices 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 price interval and is represented by bars that look like the ones drawn below - hence its name bar indices charts
- Bar Stock Indices Charts - bar stock indices chart has a vertical bar showing the total stock indices price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High and low denoted by the highest and 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 indices 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 and closing stock indices price as illustrated by this example:
Candlestick Indices Chart
Indices Candlesticks Trading 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, the high and the low of a particular stock indices price interval.
The range between the open stock indices price and the close stock indices price is called the body of the candlestick.
Indices candlesticks indices charts is the most popular type of indices charts among online indices traders because it is the easiest to interpret when trading the stock indices trading market. Indices candlestick indices charts also gives a lot of information about the stock indices price movement. This makes candlesticks indices charts the most widely used type of charting in Indices.
Indices Candlesticks Trading Charts
Below is an example of candlesticks stock indices charts. To learn and know more about candlesticks stock indices charts, read this topic: Technical Analysis of Japanese Indices Candlesticks Patterns in Indices Trading.
How to Select These Indices Chart Types on MT4
To draw any of these types of indices charts on the MT4 Platform a indices trader can use the buttons below found on this MetaTrader 4 platform.
Drawing Indices Charts on MT4
- To Select a Bar Indices Chart Click the Bar Button
- To Select a Candlesticks Indices Chart Click the Candlestick Button
- To Select a Line Stock Indices Charts - Click the Line Button