Drawing Line Crude Oil Charts on MT4 Platform

This is the fifth option on the charts menu within the MT4 platform. The line oil chart button shown below.

The line oil charts are not popular and are not used by many traders as these do not show a lot of information that is useful for technical analysis. This option will only draw a crude oil price line that connects the closing crude oil prices of a oil instrument leaving out all other data.

When compared to candlesticks that will show the Opening, the Closing, the Low and the High of crude oil price, then the line oil chart leaves out a lot of information in its graphical representation of market movement.

Most of this information is useful & used by most traders when using technical analysis method therefore the candles are preferred because they provide more data for technical analysis.

For this reason this charting method is not popular among technical traders & therefore not widely used.