How Do I Analyze MT4 Charts?
How Do I Trade MT4 Charts?
There are Three types of MT4 Charts used in Forex:
MT4 Line Charts - MetaTrader 4 line charts draw a continuous line connecting closing prices.
How Do I Analyze MetaTrader 4 Charts?
MT4 Bar Charts - MT4 bar charts are highlighted as sequence of OHCL bars. O H C L represents OPEN HIGH LOW and CLOSE. Opening price is displayed as a horizontal hyphen on the left & the closing price as a horizontal hyphen on the right.
How Do I Analyze MetaTrader 4 Charts?
Main disadvantage of MT4 bar chart - MT4 Bar Chart is that it's not visually appealing, therefore most traders do not use MT4 Bar Charts.
Candles Chart MetaTrader 4 Candles Charts - these forex MT4 candlesticks charts use the same price data as forex MT4 bar charts (open price, high forex price, low price, and close forex price). However, MT4 candlesticks charts are represented a more easily identifiable way which resembles a candle that has wicks on both ends.
How Do I Analyze Candlesticks MetaTrader 4 Charts?
The rectangle part section of MetaTrader 4 candlestick is known as the body.
The high forex price and low price are described as shadows and are drawn as poking lines.
How Do I Analyze MetaTrader 4 Charts?
The colour of MT4 candle is either blue or red:
- (Blue or Green Colour Candles)
- (Red Colour Candles)
Most Forex platforms like the MT4 Software - uses colors to mark the direction of the forex price. MetaTrader 4 Candles Chart colors used are blue or green: when price moves up, color of MetaTrader 4 Candle is blue: when the price moves downward, color of MT4 Candle is red.
How Do You Interpret MetaTrader 4 Charts?
When MetaTrader 4 candlesticks charts are used it's very easy to see if the forex prices moved upward or down-wards as opposed to when MetaTrader 4 bar charts are used.
The Japanese candles charts techniques also have many different types of patterns - the most common are:
| Reversal Patterns MetaTrader 4 Candles - MT4 Charts candlesticks charts - MetaTrader 4 Charts |
MetaTrader 4 Chart Analysis
The above MetaTrader 4 Charts Analysis is what makes the MetaTrader 4 Candles Chart Analysis popular among traders & it this why this type of technical MT4 Chart analysis is the most commonly used when it comes to analyzing the forex market.
How Do I Analyze MetaTrader 4 Charts?
