How To Read Forex Charts
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Trader tutorial to guide you on how to set up and customize forex charts in the Metatrader 4 trading platform. How to Read Forex Charts (MT4) Metatrader 4 is one of the most popular trading platforms for retail traders. As more and more offer trading via the Metatrader 4 platform, in this article you will learn about how to customize the charts to your preferences along with giving you a brief overview on some key points on the Metatrader 4 charts. This article is divided into the following sections: • How to customize Chart Colors & Types • How to customize and switch between chart time frames • How to use chart indicators and drawing tools • How to save charts and create templates • MT4 Charts – Some final tips By the end of the article, you will be able to configure the MT4 charts with ease. This article assumes that the reader has already downloaded MT4 and has an account created as well. New chart Default Charts on MT4 When you first open up your MT4 trading platform, you will see the MT4 default layout with various windows that are open. This can be a bit confusing to a beginner and which is why, it is important to customize the chart area so that you feel comfortable and are not distracted by other instruments.
How to Read Heikin Ashi Candles – Spotting Reversals. One piece of advice moving forward. Set the stop loss at the lowest point of the ACTUAL candle, and not the Heikin Ashi candle. This way, you’ll stand a better chance of surviving trading algorithms programmed to run classic stops. For the Forex market, money management is everything. Learning to Read Different Types of Forex Charts. In order to trade efficiently, traders must learn how to read different types of forex charts. Forex traders and analysts, around the globe, essentially use four different types of forex charts, based on their trading goals and the information that they’re specifically searching for.