Drawing Bar Stock Charts in MT5

The third option on the charts menu in MetaTrader 5 platform is the 'Bar Chart' button. This button is used to choose the drawing method of price movement as price bars.

To trade a trader might prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MT5 Software.

These are drawn using color programming:

• Red bar - Price headed downward
• Blue bar - Price headed upward

These bars also have horizontal line to the left & to the right: these are used to show the opening (left horizontal dash) and the closing (right horizontal dash).

highest point highlights the high of the price

The Lowest point shows the low of the price

These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these 4 levels, these four OHCL levels will be represented on each and every single price bar.

These charts aren't very popular among traders as they're not very appealing in terms of technical analysis and traders tend to favor other types.