Charts Toolbar Menu and Customizing it on MT4 Software
The Charts toolbar on the MT4 is shown below.
Before explaining how to use each item listed on this charts tool-bar, let's make sure that all the available tools are added to it by customizing it:
- Right-Click at the customize button to the left of this toolbar (Looks like a stack of coins) as displayed below.
2. Click customize 3. Add all Tools
How to Customize
After adding the customize window panel will look like:
The toolbar will now look like:
Explanations of Metal Trading Tools Listed
The following tutorial explains how to trade with each of the buttons numbered below:
1: Bar button key, sets the chart drawing technique to Bars
2: Candlesticks button, sets the chart drawing method to Candlesticks
3: Line button, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms the trading chart to highlight the most recent metals price candlesticks automatically once it has been clicked. That way the workspace of the metals prices shows the real time candle that's being quoted in that moment.
7: Chart Shift, shifts the recent metals price candlestick towards the center, therefore leaving space between the most recent candlestick and the extreme right side of the MT4 metal platform, making it easier for technical analysis.
8: Technical Indicators menu shows list of all indicators & from this list a trader can choose a particular indicator, double click on it to place it on the trading panel.
9: Periodicity displays all the chart timeframes and a trader can change to a different time frame for the from the one they are using by clicking this periodicity shortcut button.
10: Metals Step by Step is used to backtest manual metals trading systems where a trader places their trading system on a metal chart, moves it back for about 2 months, then starts to move it metals trading step by step while at the same time recording where their strategy would have given a buy metals signal or a sell metals signal or an exit trading signal, just the same way a trader would have traded realtime while the metals prices update.
11: Templates Button used to save new templates & load templates which have been saved on the platform.
All the buttons provide short cuts instead of traders looking for these option the long way using the main navigation menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the tools that are frequently used by a trader within the MT4 Metal Trading Platform.
