How Do I Analyze MetaTrader 4 Charts?
How Do You Trade MT4 Charts?
There are 3 types of Meta Trader 4 Charts used in Forex:
MetaTrader 4 Line Charts - MetaTrader 4 line charts draw a continuous line connecting closing prices.
How Do I Analyze MT4 Charts?
MetaTrader 4 Bar Charts - MetaTrader 4 bar charts are portrayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW & CLOSE. Opening price is displayed as a horizontal dash to the left & the closing price as a horizontal dash to the right.
How Do You Analyze MetaTrader 4 Charts?
Main disadvantage of Meta Trader 4 bar chart - MT4 Bar Chart is that it's not visually appealing, therefore most traders don't use MT4 Bar Charts.
Candlesticks Chart MetaTrader 4 Candles Charts - these MT4 candlesticks charts use the same price data as MT4 bar charts (open price, high price, low price, & close price). However, MT4 candlesticks charts are represented a much more easily identifiable way that resembles a candlestick with wicks on both ends.
How Do I Analyze Candles MT4 Charts?
The rectangle part of MT4 candlestick is known as the body.
The high price and low price are described as shadows and are drawn as poking lines.
How Do I Analyze MT4 Charts?
The color of MetaTrader 4 candle stick is either blue or red:
- (Blue or Green Color Candles)
- (Red Color Candles)
Most platforms like the MT4 Software - uses colors to mark the direction of the price. MetaTrader 4 Candlesticks Chart colors used are blue or green: when price moves up, color of MT4 Candle is blue: when the price moves downwards, color of Meta Trader 4 Candlestick is red.
How Do You Analyze MT4 Charts?
When Meta Trader 4 candlesticks charts are used it is very easy to see if the prices moved up-wards or downward as opposed to when Meta Trader 4 bar charts are used.
The Japanese candlesticks charts techniques also have very many different types of patterns - the most common ones are:
| Reversal Patterns MetaTrader 4 Candles - MT4 Charts candlesticks charts - MT4 Charts |
MetaTrader 4 Chart Analysis
The above MT4 Charts Analysis is what makes the MT4 Candlesticks Chart Analysis popular among traders & it this why this type of technical Meta Trader 4 Chart analysis is the most commonly used when it comes to analyzing the market.
How Do I Analyze MT4 Charts?
