Drawing Candlesticks Charts on MetaTrader 4 Platform

The fourth option on the MT4 charts menu is the candlesticks button - used to select the chart to trade with as candles.

To trade with these candles, the above buttons shows where a trader should select the button do choose this 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 analysis and easier to trade with. A lot of data can be analyzed from these charts.

The will show the Opening, High, Low, Closing commodities price of a specific time period. This is abbreviated O-H-C-L.

The body of the candles will show commodity instrument movement that was within the opening and closing commodities price of a specific trading period - it's also used to determine a lot of data. For examples in the above chart the long blue body meant there were a lot of buyers & therefore the commodities price movement was likely to continue in upward bullish trend direction.

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

Japanese Commodity Trading Candles Lessons

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

To study more about the various commodities strategies for trading these patterns, one can read these tutorials:

Japanese Candles Tutorial

Marubozu and Doji

Spinning Tops

Reversal Pattern Setups

Inverted Hammer Candle Pattern & Shooting Star Candlestick Pattern

Piercing Line Candle Pattern & Dark Cloud Cover Candlestick Pattern

Morning Star Candles and Evening Star Candles