Drawing Bar Charts on the MetaTrader 4

The third selection within the charts menu on the MT4 platform is the "Bar Chart" button. This button is utilized to select and apply the method for visually representing price movement as trading price bars.

Bar Charts may be the trader's preference for trading on charts. The aforementioned menu option illustrates how to choose and choose it in MetaTrader 4.

They Use Color Codes for Drawing

Red bar - Price headed downward
Blue bar - Price headed upwards

These graphical bars also feature markings on the left and right edges: these serve to denote the initial price (the short dash on the left) and the final price (the short dash on the right) for that period.

The highest point illustrates the high of the price

Lowest point highlights the low of the price

Open, High, Close, Low are called OHCL. Each bar shows these four levels.

Traders do not often use these charts, because they are not very helpful for analysis, and traders tend to like other kinds of charts better.

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Drawing Bar Charts on the MetaTrader 4