MT4 Candlesticks Metals Charts
A Metals chart is a graphical representation of metals price movement of a metals instrument over a given period of time.
Drawn on a grid & user is at liberty to choose which metal chart time frame they want to trade with. Metals trader may choose to use hourly metals charts, daily metals charts or even 1 minute metal chart timeframes.
To draw metals charts, 3 methods are used. Methods used to draw the metals charts defines the type of metals trading chart.
The three types of metals charts are: - Candlesticks Metal Charts - Bar Metal Charts - Line Metals Charts
- Line charts
- Bar charts
- Candlesticks metals charts - Most popular
MT4 Line Metal Charts
A single line is drawn from one closing metals price to the next thus forming a continuous line.
This type of metals chart provides very little information on the chart and is therefore not very popular among metal traders. In fact this type of metals chart is rarely used by traders.
Line Metals Chart in Metals Trading - This type of metals chart leaves out important data about metals price movement. Information such as opening, high & low point of the metals trade price which aren't represented on the graph.
This makes this type of metals line metals chart to be considered sketchy by metal trading technical analysts.
The metals chart below shows an example of a metals line metals trading chart.
MT4 Bar Metal Charts
Bar Metal Charts - This type of metals chart shows the opening, closing, the high and the low, for a particular metals price interval and is represented by bars that look like the ones drawn below - hence its name bar metals trading charts
- Bar Metal Charts - bar metals chart has a vertical bar showing the total metals price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High & low denoted by the highest and lowest point
However, these metals trading bar metal charts aren't very easy to work with, especially when they aren't magnified. It becomes very hard to analyze the bar metals charts with ease when trading the metal market thus making them not very popular among metal traders.
A Bar chart that isn't magnified makes it hard to view the opening & closing metals price as illustrated by this example:
MT4 Candlesticks Metal Charts
Candlesticks Metal Charts - This is the most widely used type of metals charts, they resemble candles, thus their name - candlesticks metals trading charts.
Candle-sticks charts shows the opening, closing, the high and low of a particular metals price interval.
The range between the open metals price and the close metals price is called the body of the candlestick.
Metals candlesticks metals charts is the most popular type of metals charts among online metals traders because it's the easiest to interpret when trading the metal market. Metals candlestick metals charts also gives a lot of data about the metals price movement. This makes metals candles charts the most widely used type of charting in Metals.
Candlesticks Metals Charts
Below is an example of candlesticks metals charts. To learn more about metals trading candlesticks charts, read this topic:Technical Analysis of Japanese Metals Candlesticks Patterns in Metals Trading.
How to Select These Metal Chart Types on MT4 Software
To draw any of these types of metals charts on the MT4 Platform a trader can use the buttons below found on this MT4 metal trading platform.
Drawing Metals Charts in MT4 Platform
- To Select a Bar Metals Chart Click the Bar Button Key
- To Choose a Candlesticks Metals Chart Click the Candlestick Button
- To Select a Line Metal Charts - Click the Line Button
