Drawing Candlesticks Charts on MT4 Platform

The fourth button on the MT4 charts menu is for candlesticks. Use it to set your trading chart to candles.

Pick these buttons to trade with candles. FX traders select them for that choice.

These are also represented using color coding:

Red - Price moved downwards

Blue - Price moved upwards

Many traders prefer this chart type for its clarity and ease of use in interpreting data for analysis and trading decisions.

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

The physical structure of the candle bodies illustrates the transactional movement of the currency pair confined between the initial opening price and the final closing price for that specific interval - this visual representation is instrumental in deriving substantial insight. For instance, in the chart provided previously, the substantial blue body indicated significant buyer activity, suggesting that the price action was likely to sustain its momentum within the established upward, bullish trend environment.

Candle wicks mark the high and low prices touched during the period.

Japanese Candlesticks Tutorials

Japanese candlestick guides teach how to spot reversal or continuation signals. You learn from various patterns and shapes on charts.

Forex traders seeking to grasp methods for trading these formations can benefit from reviewing these instructional materials:

· 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

Acquire Additional Training and Themes:

Trade Forex Trading

Drawing Candlesticks Charts on MT4 Platform

Japanese Candlesticks Tutorials