Drawing Bar Charts on MT4

The third option on the charts menu in MetaTrader 4 platform is the "Bar Chart" button. This button key is used to choose the drawing method of price movement as trading price bars.

To trade on charts a trader might prefer to use the Bar Charts. The above menu button shows how a trader can select this option on the MetaTrader 4.

These are drawn using color programming:

• Red bar - Price headed downward
• Blue bar - Price headed upward

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).

The highest point shows the high of the price

Lowest point highlights the low of the price

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

These charts aren't very popular among traders as they are not very appealing in terms of analysis and traders tend to favor other types.