How to Trade Forex MetaTrader 4 Charts Beginner Traders Guide

There are 3 types of charts used in Forex: Line, bar and candlesticks - how to Trade Forex charts beginner traders Guide.

How to Trade MetaTrader 4 Chart Patterns

Line Charts - forex line charts plots a continuous line connecting closing prices of a currency pair.

Forex Line MT4 Chart - How to Trade Forex MT4 Charts Beginner Traders Guide

MT4 Chart Bar Charts - forex bar charts are displayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW and CLOSE. The Opening price is displayed as a horizontal dash on the left & closing price as a horizontal dash on the right.

Forex Bar MT4 Chart Charts - How to Trade Forex MT4 Charts Beginner Traders Guide

The main disadvantage of a bar chart MT4 Chart is that it is not visually appealing, therefore most traders don't use them.

Candles Chart MT4 Chart - these candles chart MT4 Chart use the same price data as bar charts (open, high, low, and close). However, they are displayed in a much more visually identifiable way which looks like a candlestick with wicks on both its ends.

How to Analyze Candles Forex MT4 Charts

Rectangle section is called the body.

The high and low are described as shadows & drawn as poking lines.

Candlesticks Charts - How to Trade Forex MT4 Charts Guide

The color of the candlestick is either blue or red:

• (Blue or Green Color Candlesticks) - Forex Prices moved up
• (Red Color Candlesticks) - Forex Prices moved down

Most Forex trading platforms like the MT4 Platform, use colors to mark the direction of the price. MetaTrader 4 Chart Candles colors used are blue or green: when price moves upwards, color of MT4 Chart candle is blue: when price moves downward, color of MT4 Chart candle is red.

Candlesticks Charts Vs. Bar Charts - How to Trade MT4 Charts Beginner Traders Tutorial

When Forex MT4 candlesticks charts are used it is very easy to see if the price moved up or down as opposed to when MetaTrader 4 bar charts are used.

The Japanese candles charts trading techniques also have very many patterns & formations which are used to trade the Forex Markets. These forex chart patterns have different technical analysis explanation & the most common are:

How to Trade Forex MetaTrader 4 Charts Beginner Traders Guide

The above MT4 Chart patterns is what makes the Japanese forex trading Forex MT4 Charts candles patterns popular among forex traders & it is why this type of technical MT4 Chart analysis are the most widely used when it comes to trading the forex market.