Charting in MetaTrader 4

One of the most powerful features in MetaTrader 4 is the charting available. The platform allows various types of charts, different color schemes, technical indicators, and multiple time frames as well. You can even watch multiple charts at a time.

There are several different ways to pull up a currency chart in the platform. The three most common are to drag the pair from the market watch window to the chart window, right-clicking on the pair in the market watch window, and to pull it up from the drop down menu under File > New Chart. There is a list of the available time frames at the top of the charts, and can also display in bar, candle, or line form. The chart control toolbar at the top of the platform allows you to change the display type, and zoom in and out of the chart.

MetaTrader 4 gives you the ability to monitor several charts at one time. They can be multiple time frames of the same currency pair, or completely different currency pairs, depending on the desires of the trader and their trading strategies.

Changing the look of the chart is done by right-clicking on the chart and selecting “Properties”. This pulls up the options box where you can change the colors to your desires. The possibilities are almost limitless as just about everything’s colors can be changed.

The ability to add an indicator to the chart is done via the drop down menu by selecting Insert > Indicator. It can also be added by dragging the indicator from the navigator window as well. This allows for multiple and easy ways to set your charts up exactly how you want.

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