Drawing Bar Charts in MT5

The third option on the trading charts menu in MT5 platform is the 'Bar Chart' button. This button key is used to choose the drawing technique of price movement as price bars.

To trade a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MT5 Platform Software.

These are drawn using colour programming:

Red bar - Price went down
Blue bar - Price went up

These bars also have horizontal line to the left and to the right: these are used to explain the opening (left horizontal dash) and the closing (right horizontal dash).

highest point displays the high of the price

Lowest point displays the low of the price

These 4 points Open, High, Close, Low are Referred to as O.H.C.L., abbreviation of first letter for these Four areas, these Four O H C L zones will be illustrated on each & 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.

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Drawing Bar Charts in MT5