Drawing Bar Stock Indices Charts in MT5

The third option on the charts menu in MT5 platform is the "Bar Indices Chart" button. This button is used to select the drawing method of stock indices price movement as stock indices price bars.

To trade indices a indices trader may prefer to use the Bar Indices Charts. The above menu button shows how a indices trader can select This MetaTrader 5 option on the MT5 Platform.

These are drawn using color coding:

• Red bar - Indices Price went down
• Blue bar - Indices Price market went up

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

The highest point shows the high of the indices price

The Lowest point shows the low of the indices price

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

These charts are not very popular among Indices traders as they are not very appealing in terms of stock indices technical analysis and traders tend to favor other types.