Drawing Line Gold Charts in MetaTrader 4

This is the fifth option on the charts menu within the MetaTrader 4 platform. The line xauusd chart button shown below.

The line xauusd charts are not popular and are not used by many traders as these do not show a lot of information that is useful for technical analysis. This option will only draw a xauusd price line that connects the closing xauusd prices of a xauusd instrument leaving out all other data.

When compared to candlesticks that will show the Opening, the Closing, the Low and the High of gold price, then the line xauusd chart leaves out a lot of information in its graphical representation of market movement.

Most of this information is useful and used by most traders when using technical analysis method therefore the candlesticks are preferred because they provide more information for technical analysis.

For this reason this charting method is not popular among technical traders and therefore not widely used.