Drawing Candlesticks Charts on MT4 Platform

The 4^th option on the MT4 charts menu is the candlesticks button - used to choose and select the trading chart to trade with as candles.

To trade with these candles, the above button keys shows where a fx trader should choose the button do select this option.

These are drawn using also colour coding:

Red - Price moved downwards

Blue - Price moved upwards

This chart type is also preferred by a lot of traders because they're more appealing for analysis and easier to trade with. A lot of info can be interpreted from these trading charts.

The will show Opening, High, Low, Closing price of a particular given time period. This is abbreviated OHCL.

The body of candles will show currency pair movement that was within the opening & closing price of a specific period - it is also used to figure out a lot of info. For examples in the above chart the long blue body meant there were a lot of buyers and thenceforth the price movement was likely to continue in the upwards bullish market trend direction.

The upper and lower shadow, the wicks of the candle will show the highest point & the lowest point which the price reached.

Japanese Candlesticks Tutorials

The Japanese patterns tutorial guides can be used to learn how to figure out trend reversal signals or trend continuation signals from the different patterns & formations.

To learn more about the different strategies for trading these patterns, a forex trader then can study these lessons:

· Japanese Candles Lesson Tutorial

· Marubozu and Doji

· Spinning Tops

· Reversal Patterns

· Inverted Hammer Candle Pattern and Shooting Star Candlestick Pattern

· Piercing Line Candle Pattern & Dark Cloud Candle Pattern

· Morning Star Candlesticks and Evening Star Candles

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Drawing Candlesticks Charts on MT4 Platform

Japanese Candlesticks Tutorials