Trade Forex Trading

Drawing Line Charts on the MT4 Software

This is the 5th option on the charts menu within the MetaTrader 4 platform. The line chart button shown below.

Line Chart on Charts Menu in MetaTrader 4 Platform - Line Chart on Charts Menu in the MT4 Software - Forex MT4 Line Charts on MT4 Charts Menu

The line charts aren't popular and aren't used by many traders as these don't show a lot of information that is useful for trading analysis. This option will only draw a price line which joins the close prices of a currency pair leaving out all other data.

When compared to candlesticks that will show the Opening, the Closing, the Low & the High of price, the line chart omits a lot of info in its graphical representation of the market movement.

Most of this data is useful & used by most traders when using trading analysis technique therefore the candles are preferred because they provide more information for technical analysis.

For this explanation this charting method is not popular among traders & hence not widely used.

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