Gold Trading Chart Types: Line, Candlestick and Bar - MetaTrader 4 Candlesticks Charts - MetaTrader 4 Bar Charts - MetaTrader 4 Line Charts
A Gold chart is a graphical representation of gold price movement of a gold trading instrument over a given period of time.
Drawn on a grid and the user is at liberty to choose which gold trading chart time frame they want to trade with. The gold trader may choose to use hourly gold trading charts, daily gold trading charts or even 1 minute gold trading chart time frames.
To draw gold trading charts, three methods are used. The methods used to draw the gold trading charts defines the type of gold trading chart.
The three types of gold trading charts of are; - Candlesticks Charts - Bar Charts - Line Charts
- Line charts
- Bar charts
- Candlesticks gold trading charts- Most popular
Line Chart - MetaTrader 4 Line Charts
A single line is drawn from one closing gold price to the next, forming a continuous line.
This type of gold trading chart provides very little information on the chart and is therefore not very popular among gold traders. In fact this type of gold trading chart is rarely used.
Line Chart in Gold Trading - This type of gold trading chart leaves out important information about gold trading price movement. Information such as opening, high and low point of the gold trading price which are not represented on the graph.
This makes this type of gold trading line chart to be considered sketchy by gold trading technical analysts.
The gold trading chart below shows an example of a gold trading line chart.
Bar Chart - MetaTrader 4 Bar Charts
Gold Bar Charts - This type of gold trading chart shows the opening, closing, the high and the low, for a particular gold trading price interval and is represented by bars that look like the ones drawn below - hence its name bar charts
- Bar Charts - bar chart has a vertical bar showing the total gold trading price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High and low denoted by the highest and lowest point
However, these gold trading bar charts are not very easy to work with, especially when they are not magnified. It becomes very hard to interpret the bar charts with ease when trading the Gold trading market thus making them not very popular among gold traders.
A Bar chart that is not magnified makes it hard to view the opening and closing gold trading price as illustrated by this example:
Candlestick Chart - MetaTrader 4 Candlesticks Charts
Gold Candlesticks Charts - This is the most widely used type of gold trading charts, they resemble candles, thus their name - candlesticks charts.
Candlesticks charts shows the opening, closing, the high and the low of a particular gold trading price interval.
The range between the open gold price and the close gold price is called the body of the candlestick.
Gold candlesticks charts is the most popular type of gold trading charts among online gold traders because it is the easiest to interpret when trading the gold trading market. Gold candlestick charts also gives a lot of information about the gold trading price movement. This makes gold trading candlesticks charts the most widely used type of charting in Gold.
Gold Candlesticks Charts
Below is an example of candlesticks gold trading charts. To learn more about gold trading candlesticks charts, read this topic: Technical Analysis of Japanese Gold Trading Candlesticks Patterns in Gold Trading.
How To Select These Gold Trading Chart Types on MetaTrader 4 Gold Trading Platform
To draw any of these types of gold trading charts on the MetaTrader 4 Gold Trading Platform a gold trader can use the buttons below found on this MT4 gold trading platform.
Drawing Gold Trading Charts on MetaTrader 4 Gold Trading Platform
- To Select a Bar Chart Click the Bar Button
- To Select a Candlesticks Chart Click the Candlestick Button
- To Select a Line Charts - Click the Line Button