Drawing Bar Metal Charts on MetaTrader 4 Software
The third option on the charts menu in MT4 platform is the "Bar Metals Chart" button key. This button is used to select the drawing technique of metals price movement as metals price bars.
To trade on metal charts a trader may prefer to use the Bar Metal Charts. The above menu button shows how a trader can select this option on the MT4 platform.
These are drawn using color programming:
- Red bar - Metals Price went down
- Blue bar - Metals Price market 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 shows the high of the metals price
Lowest point shows the low of the metals price
These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these 4 levels, these four OHCL levels will be represented on each & every single price bar.
These charts are not very popular among Metals traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.
