Drawing candlesticks Charts in MetaTrader 5 Software

The fourth option on the MetaTrader 5 charts menu is the candles button - used to choose the chart to trade with as candlesticks.

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

These are drawn using also color programming:

Red - Price went down

Blue - 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 information can be analyzed from these charts.

The will show the Opening, High, Low, Closing trading price of a specific 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 price of a particular trading period - it's 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 & therefore the price movement was likely to continue in up-wards bullish trend direction.

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

Japanese candlesticks Tutorials

The Japanese patterns tutorials can be used to learn how to ascertain trend reversal signals or trend continuation trading signals from different patterns and formations.

To learn & know more about the various strategies for trading these patterns, a trader can read these guides:

Japanese candlesticks Tutorial

Marubozu & Doji

Spinning Tops

Reversal Patterns

Inverted Hammer Candle Pattern and Shooting Star Candlestick Pattern

Piercing Line Candle Pattern & Dark Cloud Cover Candlestick Pattern

Morning Star candlesticks & Evening Star Candles