Drawing Candlesticks CFDs Charts on MT4 Software
The fourth option on the MT4 charts menu is the candles button key - used to choose the chart to trade with as candlesticks.
To trade with these candlesticks, the above buttons shows where a trader should select the button do choose this option.
These are drawn using also color coding:
Red - CFD Price went down
Blue - CFD Price went up
This chart type is also preferred by many traders because they are more appealing for technical analysis & easier to trade with. A lot of data can be analyzed from these charts.
These will show the Opening, High, Low, Closing cfds price of a particular time period. This is abbreviated O H C L.
The body of the candle-sticks will show cfd instrument movement that was within the opening & closing cfds price of a specific trading period - it is also used to determine a lot of data. For example in the above chart the long blue body meant there were a lot of buyers and therefore the cfds price movement was likely to continue in upwards bullish cfd trend direction.
The upper and lower shadow, the wicks of the candlestick will show the highest point & the lowest point that the cfds price reached.
Japanese CFD Candlesticks Tutorials
The Japanese patterns tutorials can be used to learn how to determine cfd trend reversal cfd signals or cfd trend continuation trading signals from different patterns and formations.
To learn & know more about the various cfd strategies for trading these patterns, a trader can read these tutorials:
Inverted Hammer CFD Candle Pattern and Shooting Star CFD Candlestick Pattern
Piercing Line CFD Candle Pattern & Dark Cloud Cover CFD Candlestick Pattern
Morning Star Candles & Evening Star Candles
