{"id":68624,"date":"2023-08-30T17:00:00","date_gmt":"2023-08-30T14:00:00","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=68624"},"modified":"2025-12-02T14:55:48","modified_gmt":"2025-12-02T12:55:48","slug":"using-metatrader-4-for-its-charting-and-technical-analysis-capabilities","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/id\/using-metatrader-4-for-its-charting-and-technical-analysis-capabilities\/","title":{"rendered":"Using MetaTrader 4 for its charting and technical analysis capabilities"},"content":{"rendered":"

Some of the most robust tools on the MetaTrader 4 (MT4) platform<\/a> are those pertinent to technical analysis. They are largely what have made MT4 so appealing to traders all around the world. Let\u2019s discuss. <\/p>\n\n\n\n

What are MetaTrader 4 charts?<\/strong><\/h2>\n\n\n\n

Charts are vital instruments for analysing financial markets. MT4 charts allow traders to analyse price changes visually. They are also used for graphical analysis and to build indicators and line studies. Charts are necessary for technical analysis<\/a> and for working Expert Advisors (trading robots used for automated trading).<\/p>\n\n\n\n

\"Several<\/figure>\n\n\n\n

Chart opening on the MetaTrader 4 platform<\/strong><\/h2>\n\n\n\n

Up to 99 charts can be opened simultaneously. The offline use of charts via the MT4 terminal is also permitted. Three types of symbol charts exist and are very popular among forex traders when implementing technical analysis. These are bar charts, line charts and candlestick charts.<\/p>\n\n\n\n

Bar chart<\/strong><\/h3>\n\n\n\n

This chart is used considerably for perdagangan Forex<\/a>. It consists of 4 main points, namely the open, close, high and low prices for a specific period. The high and low prices form the vertical bar. The opening price is to the left of the bar and the closing price is to the right. Bars may increase or decrease in size depending on price fluctuations or market volatilities. A bar also only depicts one period of time, for example, one hour, one day, etc. <\/p>\n\n\n\n

Line chart<\/strong><\/h3>\n\n\n\n

A line chart consists of one line connecting all closing prices. This enables the forex trader to view the general price change of a currency pair over a specific timeframe. While simple to use, a line chart doesn\u2019t give much information by way of price behaviour in that timeframe. It does however visualise trends very well.<\/p>\n\n\n\n

A candlestick chart<\/strong><\/h3>\n\n\n\n

Similar to a bar chart, the candlestick chart shows the same price information, albeit in a different way graphically. With candlestick charting, however, the block in the middle shows the range between opening and closing prices. The colour of this block also indicates a bearish or bullish sentiment in the market.<\/p>\n\n\n\n

Period changes in charting<\/strong><\/h2>\n\n\n\n

MetaTrader 4\u2019s client terminal allows for the use of 9 different data periods. These range from 1 minute to 1 month, and are necessary for analyzing the market with technical indicators and line studies.<\/p>\n\n\n\n

\"Live<\/figure>\n\n\n\n

Graphical objects and charting<\/strong><\/h2>\n\n\n\n

With the MT4 platform<\/a>, a trader can manually impose several different graphical objects into a chart. These are:<\/p>\n\n\n\n