Drawing Line Charts in MetaTrader 4
This is the fifth option on the trading charts menu within MetaTrader 4 platform. The line chart button shown below.
The line charts are not popular and are not used by many traders as these do not show a lot of information that is useful for technical analysis. This option will only draw a price line which joins the close prices leaving out all other data.
When compared to candlesticks that will show the Opening, the Closing, the Low & the High of price, then the line chart leaves out a lot of information in its graphical representation of market movement.
Most of this data is useful & used by most traders when using analysis technique therefore the candles are preferred because they provide more information for trading analysis.
For this reason this charting technique is not popular among technical traders & henceforth not widely used.
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