Drawing Bar Charts on the MetaTrader 4

If you look at the charts menu in MT4, the third option is the ‘Bar Chart' button. Clicking it changes how you view the price action for, say, XAUUSD, showing the movement as price bars.

To visually represent data on charts, a trader might opt for Bar Charts: the menu button displayed above indicates the location where a trader can select and activate this charting preference within the MetaTrader 4 application.

These are indicated using color coding:

Red bar - Price went down
Blue bar - Price went upward

These bars include left and right horizontal lines. The left shows the open, and the right shows the close.

The highest point shows the high of the price

Lowest point highlights the low of the price

The four key points - Open, High, Close, and Low - are collectively known as O. H. C. L., which is an acronym composed of the first letter of these four levels. Each bar will display these O H C L levels.

Traders skip these charts often. They lack appeal for study, so others win out.

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Drawing Bar Charts on the MetaTrader 4