MT4 Candlesticks Stock Charts
A Stock chart is a graphical representation of stocks price movement of a stock instrument over a given period of time.
Drawn on a grid & user is at liberty to choose which stocks chart timeframe they want to trade with. Stock trader may select to use hourly stock charts, daily stock charts or even 1 minute stocks chart timeframes.
To draw stock charts, three techniques are used. Methods used to draw the stock charts defines the type of stock chart.
The three types of stock charts are: - Candlesticks Stocks Charts - Bar Stocks Charts - Line Stock Charts
- Line charts
- Bar charts
- Candles stock charts - Most popular
MT4 Line Stocks Charts
A single line is drawn from one closing stock price to the next, forming a continuous line.
This type of stock chart provides very little data on the chart and is therefore not very popular among stocks traders. In fact this type of stock chart gets rarely used by traders.
Line Stock Chart in Stock Trading - This type of stock chart leaves out important information about stocks price movement. Information such as opening, high & low point of the stocks price that aren't represented on the graph.
This makes this type of stock line stock chart to be considered sketchy by stocks trading technical analysts.
The stock chart below shows example of a stock line stock chart.
MT4 Bar Stocks Charts
Bar Stocks Charts - This type of stock chart shows the opening, closing, the high and the low, for a particular stocks price interval and is represented by bars that look like the ones drawn below - hence its name bar stock charts
- Bar Stocks Charts - bar stock chart has a vertical bar showing the total stock trading price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High & low denoted by the highest & lowest point
However, these stock trading bar stocks charts aren't very easy to work with, especially when they are not magnified. It becomes very hard to analyze the bar stock charts with ease when trading the stocks market thus making them not very popular among stocks traders.
A Bar chart that isn't magnified makes it hard to view the opening and closing stock price as illustrated by this example:
MT4 Candlesticks Stocks Charts
Candlesticks Stocks Charts - This is the most widely used type of stock charts, they resemble candles, thus their name - candlesticks stock charts.
Candlesticks charts shows opening, closing, the high and low of a particular stock trading price interval.
The range between the open stocks price and the close stock price is called the body of the candle.
Stock candlesticks stock charts is the most popular type of stock charts among online stock traders because it's the easiest to interpret when trading the stocks market. Stock candlestick stock charts also gives a lot of data about the stocks price movement. This makes stock candles charts the most widely used type of charting in Stock.
Candles Stock Charts
Below is example of candlesticks stock charts. To learn more about stock trading candlesticks charts, read this topic:Technical Analysis of Japanese Stock Candles Patterns in Stock Trading.
How to Select These Stocks Chart Types on MT4 Software
To draw any of these types of stock charts on the MT4 Platform a trader can use the buttons below found on this MetaTrader 4 stocks trading platform.
Drawing Stock Charts in MetaTrader 4 Platform
- To Choose a Bar Stock Chart Click the Bar Button
- To Select a Candles Stock Chart Click the Candlestick Button
- To Select a Line Stocks Charts - Click the Line Button
