Drawing Bar Charts in MT5 Software
The third option on the charts menu in MT5 platform is the 'Bar Chart' button. This button is used to select the drawing method of energies instrument movement as energies price bars.
To trade energies trading a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MetaTrader 5 option on the MetaTrader 5 Platform.
These are drawn using color coding:
- Red bar - Energies Price went down
- Blue bar - Energies Price market went up
These bars also have horizontal line to the left & to the right: these are used to explain the opening (left horizontal dash) & the closing (right horizontal dash).
highest point shows the high of the energies price
The Lowest point shows the low of the energies price
These four points Open, High, Close & Low are Known as O.H.C.L, the abbreviation of first letter for these four levels, these Four OHCL zones will be represented on each & every single price bar.
These charts are not very popular among Energies traders as they are not very appealing in terms of energies technical analysis & traders tend to favor other types.
