Drawing Bar Charts in MetaTrader 5

The third option on the charts menu in MetaTrader 5 platform is the "Bar Chart" button. This button is used to select the drawing method of xauusd instrument movement as gold price bars.

To trade xauusd trading a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MetaTrader 5 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 & to the right: these are used to show the opening (left horizontal dash) and the closing (right horizontal dash).

highest point shows the high of the gold price

The Lowest point shows the low of the gold price

These four points Open, High, Close & Low are Referred to as OHCL, the abbreviation of first letter for these 4 zones, these four O H C L 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 xauusd technical analysis & traders tend to favor other types.