Drawing Bar Charts in Meta Trader 5

The third option on the charts menu in MT5 platform is the 'Bar Chart' button. This button key is used to choose the drawing technique of currency pair movement as forex price bars.

To trade currencies a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MT5 Platform Software.

These are drawn using color programming:

• Red bar - Price moved downward
• Blue bar - Price moved upward

These bars also have horizontal line to the left & to the right: these are used to show the opening (left horizontal dash) and closing (right horizontal dash).

The highest point shows the high of the price

The Lowest point shows the low of the price

These four points Open, High, Close & Low are Known as OHCL, the abbreviation of first letter for these four levels, these Four OHCL zones will be represented on each and every single price bar.

These charts aren't very popular among Forex traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.