Drawing Bar Charts in MT5

The third option on the charts menu in MT5 platform is the 'Bar Chart' button. This button key is used to choose the drawing technique of xauusd price movement as xauusd price bars.

To trade gold a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select This MT5 option on the MT5 Platform.

These are drawn using color programming:

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

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

highest point shows the high of the xauusd price

Lowest point shows the low of the xauusd price

These 4 points Open, High, Close, Low are Referred to as OHCL, abbreviation of first letter for these Four areas, these Four O H C L zones will be illustrated on each & every single bar.

These charts are not very popular among Gold traders as they are not very appealing in terms of xauusd trading analysis & traders tend to favor other types.