Drawing Line Stock Index Charts in MetaTrader 4
This is the fifth option on the charts menu within the MetaTrader 4 platform. The line stock indices chart button shown below.
The line stock indices charts are not popular and are not used by many traders as these do not show a lot of information that is useful for technical analysis. This option will only draw a stock indices price line that connects the closing stock indices prices of a stock indices instrument leaving out all other data.
When compared to candlesticks that will show the Opening, the Closing, the Low and the High of stock index price, then the line stock indices chart leaves out a lot of information in its graphical representation of market movement.
Most of this information is useful and used by most traders when using technical analysis method therefore the candlesticks are preferred because they provide more information for technical analysis.
For this reason this charting method is not popular among technical traders and therefore not widely used.