Drawing Bar CFDs Charts on MT4 Software

The third option on the trading charts menu in MT4 platform is the "Bar Chart" button. This button key is used to select the drawing technique of cfd instrument movement as price bars.

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

These are drawn using color coding:

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

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

The highest point shows the high of the cfd price

Lowest point portrays the low of the cfd price

These 4 points Open, High, Close and Low are Known as O.H.C.L, abbreviation of the first letter for these Four levels, these 4 O H C L areas will be represented on every single bar.

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