Drawing candles Charts on MetaTrader 5 Platform

The 4^th option on the MetaTrader 5 charts menu is the candlesticks button - used to select the trading chart to trade with as candles.

To trade with these candlesticks, the above MT5 buttons shows where a indices trader should select the button do select This MT5 option.

These are drawn using also colour coding:

Red - Price headed downwards

Blue - Price headed upwards

This chart type is also preferred by a lot of traders because they're more appealing for stock technical analysis & easier to trade with. A lot of info can be interpreted from these charts.

These will explain the Opening, High, Low, Closing stock trading price of a particular time period. This is abbreviated O-H-C-L

The body of the candles will show stock price movement that was within the opening & closing stock price of a particular trading period - it's also used to identify a lot of info. For examples in the above chart the long blue body meant there were a lot of buyers & therefore the stock price movement was likely to continue in the upward bullish market trend direction.

The upper and lower shadow, the wicks of the candle will show the highest point and the lowest point which the stock price reached.

Japanese candlesticks Tutorials

The Japanese patterns tutorial guides can be used to learn how to ascertain trend reversals or trend continuation signals from the various patterns & formations.

To learn and know more about the various strategies for trading these patterns, a indices trader then can study these guides:

Japanese candlesticks Lesson Tutorial

Marubozu and Doji

Spinning Tops

Reversal Setup Patterns

Inverted Hammer Candlestick Pattern and Shooting Star Candlestick Pattern

Piercing Line Candle Pattern and Dark Cloud Candle Pattern

Morning Star candlesticks and Evening Star Candles

More Guides:

Trade Stock Indices

Drawing candles Charts on MetaTrader 5 Platform

Japanese candlesticks Tutorials