Drawing Candlesticks Charts on MetaTrader 4 Software
The fourth option on the MT4 charts menu is the candlesticks button - used to select the chart to trade with as candles.
To trade with these candlesticks, the above buttons shows where a trader should select the button do choose this option.
These are drawn using also color coding:
Red - Energies Price went down
Blue - Energies Price went up
This chart type is also preferred by many traders because they are more appealing for technical analysis & easier to trade with. A lot of information can be interpreted from these charts.
These will explain the Opening, High, Low, Closing energies price of a particular time period. This is abbreviated O-H-C-L.
The body of the candlesticks will show energies instrument movement that was within the opening and closing energies price of a specific trading period - it is also used to determine a lot of information. For example in the above chart the long blue body meant there were a lot of buyers and therefore the energies price movement was likely to continue in upwards bullish energies trend direction.
The upper and lower shadow, the wicks of the candlestick will show the highest point and the lowest point that the energies price reached.
Japanese Energy Trading Candles Lessons
The Japanese patterns courses can be used to learn how to determine energies trend reversal signals or energies trend continuation signals from different patterns and formations.
To learn more about the various energies trading strategies for trading these patterns, a trader can read these lessons:
Inverted Hammer Candle Pattern & Shooting Star Candlestick Pattern
Piercing Line Energies Trading Candlestick Pattern & Dark Cloud Cover Candle Pattern
Morning Star Candles & Evening Star Candles
