Drawing Bar Charts in MT4

The third option on the charts menu in MetaTrader 4 platform is the "Bar Chart" button. This button key is used to choose the drawing method of currency pair movement as price bars.

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

These are drawn using color programming:

• Red bar - Price went down
• Blue bar - 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) & closing (right horizontal dash).

highest point portrays the high of the price

The Lowest point shows the low of the price

These four points Open, High, Close & Low are Known as O.H.C.L, the abbreviation of first letter for these four levels, these Four OHCL zones will be represented on each & every single price bar.

The charts aren't very popular among Forex traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.