Drawing Candlesticks Metal Charts on MetaTrader 4 Software
The fourth option on the MT4 charts menu is the candles button - used to choose the chart to trade with as candles.
To trade with these candlesticks, the above buttons shows where a trader should select the button do choose this option.
These are drawn using also color coding:
Red - Metals Price went down
Blue - Metals Price went up
This chart type is also preferred by many traders because they are more appealing for technical analysis & easier to trade with. A lot of information can be interpreted from these charts.
These will explain the Opening, High, Low, Closing metals price of a particular time period. This is abbreviated O H C L.
The body of the candle-sticks will show metals price movement that was within the opening & closing metals price of a particular trading period - it is also used to determine a lot of information. For examples in the above chart the long blue body meant there were a lot of buyers and therefore the metals price movement was likely to continue in upward bullish metals trend direction.
The upper and lower shadow, the wicks of the candlestick will show the highest point & the lowest point that the metals price reached.
Japanese Metal Candles Lessons
The Japanese patterns guides can be used to learn how to determine metals trend reversal signals or metals trend continuation signals from the different patterns & formations.
To learn more about the various metals strategies for trading these patterns, a trader can read these tutorials:
Inverted Hammer Metals Candle Pattern & Shooting Star Metals Candle Pattern
Piercing Line Metals Candle Pattern and Dark Cloud Cover Metals Candle Pattern
Morning Star Candlesticks and Evening Star Candlesticks
