MetaTrader 4 Charts

Inside MetaTrader 4

Integrated into the MetaTrader 4 trading platform, Meta Charts combines a professional charting application with MetaTrader's popular custom indicators, scripts and automated trading capabilities.

Some of the great features included are:

• Choose from 50 technical studies, including 30 technical indicators and 20 line studies
• Create, test and automate your own technical studies and indicators using Meta Quotes Language 4
• Choose from 9 time intervals, from 1 minute to monthly
• Place trades and view open positions directly from your charts
• View an unlimited number of charts at once
• Integrate your chart analysis with MetaTrader 4's auto-execution technologies: choose from Instant Execution, Request Execution, Market Execution

Bar Chart

A Bar Chart is a type of chart that attempts to display a visual representation of price activity over a given period of time. This type of chart is popular among Forex traders because it enables quick recognition of trends and patterns. For each trading period on the chart, a vertical line is constructed, the length of which is determined by the highest and lowest price that the currency traded for the period. The opening price is denoted by a small horizontal line on the left of the vertical bar, and the closing price, by a similar line on the right side. A similar, though different, style of chart than the Bar Chart is one that displays "candlesticks". Both styles attempt to communicate quickly the general pulse of the currency trading market for technical analysts and Forex traders alike.

Candlestick Chart

The Candlestick Chart is a price chart that displays the high, low, open, and close over a specified period of time. It adds dimension and color to the Bar Chart by depicting the area of the bar between the open and close as a two dimensional real body. This area is shaded white or green for an up time period and black or red for a down time period. Extensions beyond the range of opening and closing prices are shown as lines that reach to the high and low reached within the given time period.

Line Chart

A style of chart that is created by connecting a series of data points together with a line. This is the most basic type of chart used in finance and it is generally created by connecting a series of past prices together with a line.

For more information about Charting, please visit our article 'Charting Perspective: Candlestick vs Line' in our Forex Blog.

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