How do charts in MT4 work?

Modified on Tue, 3 Dec, 2024 at 10:21 PM

In the MT4 platform, charts display price changes of financial instruments. Here are the main functions and working principles of charts:

1. Real-time data updates

Price movement：charts display price fluctuations of financial instruments in real time. Price update frequency depends on market activity and the internet connection.
Time frame：users can select different time frames (such as 1 minute, 5 minutes, 1 hour, a day, etc.), and each time frame displays the price changes in the corresponding time period.

2. Chart type

Candlestick chart：the most commonly used chart type, showing the opening, the lowest, the highest and closing prices.
Bar chart：similar to a candlestick chart, but displays price information as bars.
Line chart：a line drawn by connecting closing prices, suitable for observing price trends.

3. Technical analysis tools

Indicators：a variety of technical indicators (such as moving average, RSI, etc.) can be added to analyze market trends.
Graphics tools：graphic analysis can be performed using tools such as trend lines, Fibonacci retracement lines, etc.
Chart templates：users can save customized settings (such as indicators and graphical tools) for later use.

4. Trading features

Direct trading：users can open and close positions, set Stop Loss and Take Profit, and perform other operations directly through the chart.
Order management：users can view current positions, transaction history and related information.

5. Custom settings

Chart appearance：users can customize the color, style, and background of the chart to suit their personal preferences.
Data range：the range of historical data displayed can be selected to perform more in-depth analysis.

6. Multi-chart function

Monitoring multiple markets simultaneously：users can open multiple charts on one screen to monitor price movements of different financial instruments.

The variety of charts’ features provide traders with powerful analytical tools to help make trading decisions based on the profound analysis.