Charts Toolbar Menu and Customizing it on MetaTrader 5
The Charts MetaTrader 5 tool-bar on the MetaTrader 5 is shown below.
Before explaining how to use each item listed on this charts tool-bar, lets make sure that all the available tools are added to it by customizing it:
- Right-Click at the customize button key to the left of this MetaTrader 5 toolbar (Looks like a stack of coins) as illustrated below.
2. Click customize 3. Add all Tools
How to Customize
After adding the customize panel window will look like:
The MT5 toolbar will now look like:
Explanations of Tools Listed
The following guide explains how to trade with each of the buttons numbered below:
1: Bar button, sets the trading chart drawing method to Bars
2: candles button, sets the chart drawing method to Candles
3: Line button, sets the chart drawing method to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms the chart to highlight the most recent price candlesticks automatically once it has been clicked. That way the work space of the prices shows the real time candle that is being quoted in that moment.
7: Chart Shift, shifts the recent price candle towards the center, therefore leaving space between the most recent candle and the extreme right side of the MT5 Software, making it easier for analysis.
8: Technical Indicators menu shows list of all indicators & from this listing a trader can choose a particular indicator, doubleclick on it to place it on trading panel.
9: Periodicity displays all the chart timeframes & a trader can change to a different time frame for the from the one they are using by clicking this periodicity shortcut button.
10: Step by Step is used to back-test manual systems where one places their system on a chart, moves it back for about two months, then starts to move it step by step while at the same time recording where their strategy would have given a buy signal or a sell signal or an exit signal, just the same way one would have traded realtime while the prices update.
11: Templates Button Key used to save new templates and load templates that have been saved on platform.
All the buttons provide short-cuts instead of traders looking for these option the long way using main navigation menu, one just clicks a tool and gains quick access to it. The MT5 tool bar will mainly contain the tools that are frequently used by a trader within the MT5 Software.
