Charts ToolBar Menu and How to Customize it in MT4
The Charts tool-bar on the MT4 is illustrated below.
Before explaining how to use each item listed on this charts toolbar, let's make sure all the available tools are added to it by customizing it:
- Right-Click at the customize button to the left of this toolbar (Looks like a stack of coins) as illustrated below.
2. Click customize 3. Add all Tools
How to Customize
After adding customize window will look like:
The toolbar will now look like:
Explanations of Trade Tools Listed
The following lesson explains how to trade with each of the buttons numbered below:
1: Bar button, sets the chart drawing technique to Bars
2: Candles button, sets the chart drawing method to Candlesticks
3: Line button, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms chart to highlight the most recent trading price candlesticks automatically once it has been click. That way the workspace of the trading prices shows the real time candle that is being quoted in that moment.
7: Chart Shift, shifts the recent trading price candle-stick towards the center, henceforth leaving space between the most recent candlestick and the extreme right side of the MetaTrader 4 platform, making it easier for analysis.
8: Indicators menu shows list of all indicators & from this listing a trader can choose a particular trading indicator, doubleclick on it to place it on the trading panel.
9: Periodicity displays all the chart time frames and a trader can change to a different timeframe for the from the one they are using by clicking this periodicity shortcut button.
10: Gold Step by Step is used to backtest manual systems where one places their system on a chart, moves it back for about two months, then starts to move it trading step by step while at the same time recording where their strategy would have given a buy signal or a sell signal or an exit signal, just the same way a trader would have traded realtime while the prices update.
11: Templates Button Key used to save new templates & load templates which have been saved on the platform.
All the buttons provide short-cut instead of traders looking for these option the long way using main navigating menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the tools which are frequently used by a xauusd trader within the MT4 Gold Software.
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