MT4 Candlesticks Charts

A chart is a graphical representation of price movement of a silver instrument over a given period of time.

Drawn on a grid & user is at liberty to choose which chart time frame they want to trade with. The trader might choose to use hourly charts, daily charts or even 1 min chart time frames.

To draw charts, three methods are used. Techniques used to draw the charts defines the type of chart.

The three types of charts are: - Candlesticks Charts - Bar Charts - Line Charts

1. Line charts
2. Bar charts
3. Candles charts - Most popular

MT4 Line Charts

A single line is plotted from one closing xagusd price to the next, forming a continuous line.

This type of chart provides very little information on the chart & is therefore not very popular among xagusd traders. In fact this type of chart is rarely used.

Line Chart in Silver Trading - This type of chart leaves out important data about price movement. Information such as opening, high and low point of the price which aren't represented on the graph.

This makes this type of silver line chart to be considered sketchy by trade technical analysts.

The chart below displays example of a silver line chart.

MT4 Bar Charts

Bar Charts - This type of chart shows the opening, closing, the high & the low, for a particular price interval and is represented by bars that look like the ones drawn below - hence its name bar charts

• Bar Charts - bar chart has a vertical bar showing the total price movement.
• Left horizontal bar the opening
• Right horizontal bar the closing
• High and low denoted by the highest & lowest point

However, these silver trading bar charts aren't very easy to work with, especially when they aren't magnified. It becomes very hard to analyze the bar charts with ease when trading the market thus making them not very popular among xagusd traders.

A Bar chart that is not magnified makes it hard to view the opening & closing xagusd price as shown by this example:

Candle Chart

Candles Trading Charts - This is the most widely used type of charts, they resemble candle-sticks, thus their name - candlesticks charts.

Candle charts shows opening, closing, the high & low of a particular price interval.

The range between the open price & the close price is called the body of the candle-stick.

candlesticks charts is the most popular type of charts among online traders because it is the easiest to interpret when trading the trading market. candlestick charts also gives a lot of data about the price movement. This makes candlesticks charts the most widely used type of charting in Silver.

Candles Charts

Below is example of candlesticks charts. To know more about candlesticks charts, read this topic: Technical Analysis of Japanese Candle-sticks Patterns in Silver Trading.

How to Select These Trade Chart Types in Meta Trader 4 Trading Software

To draw any of the types of charts on the MT4 Platform a trader can use the buttons below found on this MT4 xagusd platform.

Drawing Charts in Meta Trader 4

• To Select a Bar Chart Click the Bar Button

• To Choose a Candlesticks Chart Click the Candlestick Button Key

• To Select a Line Charts - Click the Line Button