Charts Tool-Bar Menu and Customizing it in the MT4 Platform
The Charts tool bar on the MetaTrader 4 is shown below.
Before explaining how to use each item listed on this charts tool-bar, let us ensure all the available trading tools are added on it by customizing it:
- Right-Click at the customize button to the left toolbar (Looks like a stack of many coins) as displayed below.
2. Click customize 3. Set all Tools
How to Customize
After adding the customize panel/window will look like:
The toolbar will now look like:
Explanations of XAUUSD Trade Tools Listed
The following lesson explains and describes how to trade with each of the buttons numbered and shown below:
1: Bar button, sets the chart drawing and plotting method to Bars
2: Candles button, sets the chart drawing method to Candlesticks
3: Line button, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms the chart to highlight the most recent trading price candlesticks mechanically once it has been pressed. That way the workspace of the prices shows the real-time candle that's being quoted in that moment.
7: Chart Shift, shifts the recent trading price candlestick towards the center, hence leaving space between the most recent candle & the extreme right side of the MT4 software, making it easier for analysis.
8: Indicators menu indicates a list of all indicators & from this list a trader can select a particular technical indicator, double-click on it to place it on the trading panel.
9: Periodicity displays all the chart time-frames & a xauusd/gold trader can change to a different time-frame for the from the one they are using by clicking this periodicity short cut button.
10: XAUUSD Step by Step is used to back test manual xauusd systems where one places their system on a xauusd chart, moves it back for about 2 months, then begins to move it xauusd step by step & at the same time recording where their strategy would have given a buy signal or a sell signal or an exit signal, just the same way a trader would have traded real-time while the prices update.
11: Templates Button used to save new templates & load templates which have been saved on the platform.
All the buttons provide short cuts instead of traders looking and searching for these option through the long way using the main navigation menu, a trader just clicks a tool & gains quick access to it. The tool-bar will mainly contain the trading tools which are frequently used by a gold trader within the MetaTrader 4 Platform.
Learn More Topics and Courses:
- How Do You Use Momentum Indicator in FX?
- Index Strategy for Trading AUS200 in FX
- Line Chart on Trading Charts Menu in MetaTrader 4 Platform Software
- Calculate Pips Value for Standard Account Standard Lots
- How Do You Analyze/Interpret FX Pending Trading Orders?
- What's Margin Call in Gold?
- How Do You Set US 100 in MT4 Phone App?
- Understanding Japanese Candlesticks How to Read Candles
- DJ 30 Pips Calculator for DJ 30 Indices
