How Do You Read MetaTrader 4 Charts?
How to Trade MT4 Charts
There are 3 types of MetaTrader 4 Charts used in Gold:
MT4 Line Charts - MT4 XAUUSD line charts draw a continuous line connecting closing prices.
How Do You Interpret MetaTrader 4 Charts? - How Do You Read MetaTrader 4 Charts?
MetaTrader 4 Bar Charts - MT4 bar charts are displayed as sequence of O-H-C-L bars. OHCL represents OPEN HIGH LOW and CLOSE. The Opening price is portrayed as a horizontal hyphen on the left & closing price is shown as a horizontal hyphen on the right.
How Do You Interpret MetaTrader 4 Charts? - How Do You Read MetaTrader 4 Charts?
The main disadvantage of MT4 XAUUSD bar chart - MT4 Bar Chart is that it's not visually appealing, henceforth most traders do not use MT4 Bar Charts.
Candlesticks Chart MetaTrader 4 Candles Charts - these gold MT4 candles charts use the same price info as gold MT4 bar charts (open price, high price, low price, and close price). However, MetaTrader 4 candles charts are represented a more easily identifiable way which resembles a candle that has wicks on both ends.
Interpret Candlesticks MT4 XAUUSD Charts
The rectangle section of the MT4 candle-stick is known as the body.
The high price & low price are referered to as shadows & plotted as poking lines.
How Do You Interpret XAUUSD MetaTrader 4 Charts - How to Trade MetaTrader 4 Charts?
The colour of MT4 trading candle is either blue or red:
- (Blue or Green Colour Candlesticks) - Prices headed up
- (Red Colour Candlesticks) - Prices headed down
Most gold platforms like the MT4 Software - uses colors to mark the direction of the price. MetaTrader 4 Candlesticks Chart colour used are blue or green: when the price moves up, colour of MetaTrader 4 Candlestick is blue: when the price moves downwards, color of MT4 Candlestick is red.
How to Trade MT4 Charts
When MT4 candlesticks charts are used it's very easy to see if the prices moved up-wards or down-wards as opposed to when MT4 bar charts are used.
Japanese candles charts techniques also have many different types of gold patterns - the most common are:
Learn MetaTrader 4 XAUUSD Charts for Beginners
The above MT4 Charts Analysis is what makes the MT4 Candlesticks Chart Analysis popular among traders & it this why this type of technical MT4 Chart analysis is the most widely used when it comes to analyzing the market.
How Do You Interpret XAUUSD MetaTrader 4 Charts
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