Charts Toolbar Menu and How to Customize it on MT4 Platform
The Charts toolbar on the MT4 is shown below.
Before explaining how to use each item listed on this charts tool bar, let's make sure that all the available tools are added to it by customizing it:
- Right Click at the customize button to the left of this toolbar (Looks like a stack of coins) as displayed below.
2. Click customize 3. Add all Tools
How to Customize
After adding the customize window panel will look like:
The tool bar will now look like:
Explanations of Crude Trading Tools Listed
The following guide explains how to trade with each of the button keys numbered below:
1: Bar button key, sets the chart drawing technique to Bars
2: Candlesticks button key, sets the chart drawing technique to Candlesticks
3: Line button key, sets the chart drawing technique to Line plot
4: Zoom In, zooms in
5: Zooms Out, zooms out
6: Auto Zoom, automatically zooms the trading chart to highlight the most recent crude trading price candlesticks automatically once it has been clicked. That way the workspace of the crude oil prices shows the real time candlestick that is being quoted in that moment.
7: Chart Shift, shifts the recent crude trading price candlestick towards the center, therefore leaving space between the most recent candlestick and the extreme right side of the MT4 platform, making it easier for technical analysis.
8: Trading Indicators menu shows list of all indicators & from this list a trader can select a particular indicator, double-click on it to place it on trading panel.
9: Periodicity displays all the chart timeframes & a trader can change to a different time frame for the from the one they are using by clicking this periodicity shortcut button.
10: Oil Step by Step is used to backtest manual oil systems where a trader places their trading system on a oil chart, moves it back for about 2 months, then starts to move it oil step by step while at the same time recording where their strategy would have given a buy oil signal or a sell oil signal or an exit trading signal, just the same way a trader would have traded realtime while the crude oil prices update.
11: Templates Button used to save new templates and load templates that have been saved on platform.
All the button keys provide short cuts instead of traders looking for these option the long way using the main navigation menu, a trader just clicks a tool & gains quick access to it. Tool-bar will mainly contain the tools that are frequently used by a trader within the MetaTrader 4 Oil Trading Platform.
