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Learn Stock Indices Trading

Drawing Bar Stock Index Charts in MetaTrader 4

The third option on the charts menu in MetaTrader 4 platform is the “Bar Stock Indices Chart” button. This button is used to select the drawing method of stock indices instrument movement as stock index price bars.

Bar Stock Index Chart on Chart Menu in MetaTrader 4

To trade on indices charts a stock indices trader may prefer to use the Bar Stock Indices Charts. The above menu button shows how a stock indices trader can select this option on the MetaTrader 4 stock index platform.

These are drawn using color coding:

  • Red bar - Indices Price went down
  • Blue bar - Indices Price market went up

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

The highest point shows the high of the indices price

The Lowest point shows the low of the indices price

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

These charts are not very popular among Stock Indices traders as they are not very appealing in terms of technical analysis and traders tend to favor other types.