What's Candle in Indices Trading?
A Indices Trading candlestick is a stock indices trading price representation which is used to represent the high, low, opening stock indices price & closing stock indices trading prices for a specific period of time. Indices trading candlesticks looks like a candlestick with wicks on both ends thus their name - candlesticks.
This type of stock indices trading price representation is commonly used by traders because it is easier to trade with and interpret when analyzing stock indices trading price movement on the stock indices charts.
This candles pattern can be selected for trading on MetaTrader 4 platform and traders can then use this candles charts when trading indices.
Candle Sticks Charts - these candles charts use the same stock indices trading price data as bar charts (open, high, low, and close). The indices candlesticks resembles a candle with wicks on both ends.
How to Analyze Candles Stock Indices Charts
The rectangle section is known as body.
The high and low are described as shadows & plotted as poking lines.
How to Read Indices Charts Beginner Traders Guide
The color of the indices candlestick is either blue or red:
- (Blue or Green Color Candlesticks) - Indices Prices moved up
- (Red Color Candlesticks) - Indices Prices moved down
Most indices trading platforms like the MT4 Stock Indices Trading Software, use colors to mark the direction of the indices trading price. Candles colors used are blue or green: when stock indices trading price moves upward, color of candle is blue: when stock indices price moves downward, color of candlestick is red.
Drawing Candles Indices Charts in MT4 Platform
To draw these on the MT4 Indices Trading Software, choose the charts plotting tools within the "MT4 Toolbar" - shown below.
Drawing Candlesticks Stock Indices Charts on MetaTrader 4 Software
To view this tool-bar in MetaTrader 4 go to 'View' Next to file at top left corner of the MT4 Platform, Click 'View', Then Click 'Toolbars', Then check the 'Charts' Button Key. The above MetaTrader 4 toolbar will appear.
Once above charts tool bar, appears you can then select the type of stock indices chart you want to convert to, If you want to trade using the bar charts format, click on the bar stock indices chart tool button as shown above, for line stock indices chart trading click the line charts tool button key, for Japanese candles charts click the "candlesticks charts tool button key".
