Drawing Bar Charts on MetaTrader 4 Software

The third option on the charts menu in MT4 platform is the "Bar Chart" button. This button is used to select the drawing method of energies instrument movement as energies price bars.

To trade on charts a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select this option on the MT4 software.

These are drawn using color coding:

• Red bar - Price went down
• Blue bar - Price market went up

These bars also have horizontal line to the left & to the right: these are used to explain the opening (left horizontal dash) & the closing (right horizontal dash).

highest point displays the high of the price

Lowest point displays the low of the price

These 4 points Open, High, Close & Low are Referred to as O.H.C.L, abbreviation of first letter for these 4 areas, these Four O H C L zones will be illustrated on each & every single price bar.

The charts are not very popular among Energies traders as they are not very appealing in terms of analysis & traders tend to favor other types.