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Learn Gold Trading for Beginners Tutorials

Drawing Bar Gold Charts in MetaTrader 4 XAUUSD Trading Platform

The third option on the charts menu in MetaTrader 4 platform is the "Bar XAUUSD Chart" button. This button is used to select the drawing method of xauusd instrument movement as gold price bars.

Bar XAUUSD Chart on Chart Menu in MetaTrader 4 XAUUSD Trading Platform - Bar Gold Chart on Gold Charts Menu in MetaTrader 4 Gold Trading Platform - Gold Trading MetaTrader 4 Bar Gold Chart on Gold Charts Menu

To trade on xauusd charts a xauusd trader may prefer to use the Bar XAUUSD Charts. The above menu button shows how a xauusd trader can select this option on the MT4 gold trading platform.

These are drawn using color coding:

  • Red bar - XAUUSD Price went down
  • Blue bar - XAUUSD Price market went up

These bars also have horizontal line to the left and to the right; these are used to show the opening (left horizontal dash) and the closing (right horizontal dash).

The highest point shows the high of the xauusd price

The Lowest point shows the low of the xauusd price

These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these four levels, these four OHCL levels will be represented on every single bar.

These charts are not very popular among XAUUSD traders as they are not very appealing in terms of technical analysis and traders tend to favor other types.


Metals Trading Symbols

Precious Metal Symbols:
Gold - XAU USD and XAU EUR, Silver - XAG USD and XAG EUR, Platinum - XPT USD, Palladium - XPD USD

Metal Symbols:
Copper - XCU USD, Zinc - XZN USD, Lead - XPB USD, Nickel - XNI USD, Aluminium - XAL USD