Drawing Bar Charts in the MT4 Software

The third option on the MT4 charts menu is the “Bar Chart” button. Hit this to display price movement as price bars.

To trade on stock charts a trader may prefer to use the Bar Charts. The above menu button shows how one can select & choose this option on the MT4.

These are drawn using color coding:

Red bar - Price moved downwards
Blue bar - Price moved upwards

These graphical bars also feature markings on the left and right edges: these serve to denote the initial price (the short dash on the left) and the final price (the short dash on the right) for that period.

The highest point shows the high of the market price

Lowest point shows the low of the market price

These four points, Open, High, Close, Low, are known as O.H.C.L., which is short for the first letter of each level: these OHCL levels show on every single price bar.

These chart types are generally less favored by traders because they are considered less visually appealing for detailed analytical work, leading traders to prefer alternative visualizations.

Get More Lessons and Tutorials and Topics:

Trade Stock Indices

Drawing Bar Charts in the MT4 Software