Drawing Candlesticks CFDs Charts on MT4 Software

The fourth option on the MT4 charts menu is the candles button key - used to choose the chart to trade with as candlesticks.

To trade with these candles, the above buttons shows where a trader should select the button do choose this option.

These are drawn using also color programming:

Red - Price went down

Blue - Price went up

This chart type is also preferred by many traders because they are more appealing for analysis and easier to trade with. A lot of data can be analyzed from these charts.

The will show the Opening, High, Low, Closing cfds price of a specific time period. This is abbreviated O Hour C L.

The body of the candles will show cfd instrument movement that was within the opening and closing cfds price of a specific trading period - it is also used to determine a lot of data. For example in the above chart the long blue body meant there were a lot of buyers and therefore the cfds price movement was likely to continue in upward bullish trend direction.

The upper and lower shadow, the wicks of the candlestick will show the highest point & the lowest point that the cfds price reached.

Japanese Candlesticks Tutorials

The Japanese patterns tutorials can be used to learn how to determine trend reversal signals or trend continuation trading signals from different patterns and formations.

To learn and know more about the various cfd strategies for trading these patterns, one can read these tutorials:

Japanese Candles Tutorial

Marubozu and Doji

Spinning Tops

Reversal Setups

Inverted Hammer Candle Pattern and Shooting Star Candlestick Pattern

Piercing Line Candle-stick Pattern and Dark Cloud Cover Candlestick Pattern

Morning Star Candles & Evening Star Candles