Drawing Bar Charts on MT4 Platform

The third option on the charts menu in MT4 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 might prefer to use the Bar Charts. The above menu button shows how one can select this option on the MetaTrader 4 software.

These are drawn using colour coding:

Red bar - Price headed down
Blue bar - Price headed up

These bars also include horizontal lines on either side that represent the opening (left horizontal dash) and closing (right horizontal dash).

highest point portrays the high of the price

Lowest point shows the low of the price

These 4 points Open, High, Close & Low are Known as O.H.C.L, the abbreviation of first letter for these 4 levels, these Four OHCL zones will be represented on each and every single price bar.

Forex traders don't usually like these charts because they aren't very helpful for reading charts, and traders usually like other kinds of charts better.

Examine More Tutorials and Lessons:

Trade Forex Trading

Drawing Bar Charts on MT4 Platform