Drawing Bar XAGUSD Charts in MT4
The third option on the charts menu in MT4 platform is the "Bar Silver Trading Chart" button. This button key is used to choose the drawing technique of xagusd trading price movement as xagusd trading price bars.
To trade on xagusd charts a trader may prefer to use the Bar Silver Trading Charts. The above menu button shows how a trader can select this option on the MT4 platform.
These are drawn using color coding:
- Red bar - Silver Price went down
- Blue bar - Silver Price market went up
These bars also have horizontal line to the left and to the right: these are used to show opening (left horizontal dash) & closing (right horizontal dash).
highest point shows the high of the xagusd trading price
Lowest point shows the low of the xagusd trading price
These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these four levels, these 4 OHCL levels will be represented on each and every single bar.
These charts are not very popular among Silver traders as they are not very appealing in terms of technical analysis and traders tend to favor other types.
