How to Trade Forex MT4 Charts Beginner Traders Tutorial
There are Three types of charts used in Forex: Line, bar & candles - how to Trade Forex charts beginners Guide.
How to Trade MetaTrader 4 Chart Patterns
Line Charts - forex line charts draws a continuous line connecting closing prices of a currency pair.
Forex Line MT4 Chart - How to Trade Forex MT4 Charts Beginners Guide
MetaTrader 4 Chart Bar Charts - forex bar charts are displayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW and CLOSE. Opening price is displayed as a horizontal dash on left & closing price as a horizontal dash on right.
Forex Bar MT4 Chart Charts - How to Trade Forex MT4 Charts Beginners Guide
Main disadvantage of a bar chart MT4 Chart is that it is not visually appealing, therefore most traders don't use them.
Candlesticks Chart MT4 Chart - these forex candles chart MetaTrader 4 Chart use the same price data as bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle-stick with wicks on both its ends.
How to Interpret Candles Forex MT4 Charts
The rectangle section is called the body.
The high & low are described as shadows & plotted as poking lines.
Forex Candles Charts - How to Trade Forex MT4 Charts Guide
The color of the forex trading candlestick is either blue or red:
- (Blue or Green Color Candles) - Forex Prices moved up
- (Red Color Candlesticks) - Forex Prices moved down
Most Forex trading platforms like the MT4 Software, use colors to mark the direction of the price. MetaTrader 4 Chart Candles colors used are blue or green: when price moves upwards, color of MT4 Chart candlestick is blue: when price moves downward, color of MT4 Chart candle is red.
Candlesticks Charts Vs. Bar Charts - How to Trade MT4 Charts Beginners Tutorial
When Forex MT4 candlesticks charts are used it's very easy to see if the price moved up or down as opposed to when MT4 bar charts are used.
The Japanese candles charts trading techniques also have very many patterns & formations that are used to trade the Forex Markets. These forex chart patterns have different FX technical analysis interpretation & the most common are:
| Reversal Patterns MT4 CandlesticksForex candlesticks charts - MT4 candles |
How to Trade Forex MT4 Charts Beginner Traders Guide
The above MT4 Chart patterns is what makes the Japanese forex trading Forex MT4 Charts candlesticks chart patterns popular among forex traders & it's why this type of technical MetaTrader 4 Chart analysis are the most widely used when it comes to trading the forex trading market.
