Charts

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Welcome to currency trading with Profiforex!
Today we'll study charts and learn how to work with them in the MetaTrader 4 terminal.
Charts are used to visualize the information about the dynamics of price changes on your computer screen.In the MetaTrader terminal there are three types of charts representation: lines,

bars

and candlesticks.

In order to switch between these views, we use the buttons of the "Charts" toolbar.

The line chart represents the chart as a broken line connecting the close prices of bars.This is the simpliest chart. It doesn't carry as much information about price compared with bars or candlesticks, but it's representative enough and convenient for making graphical constructions.

The "timeframe" is used to change the scale of the chart. The timeframe is the minimum increment on the time scale in the chart.
The buttons to switch between timeframes instantly are grouped in the Periodicity toolbar.

The bar chart lets you see not only closing prices

but also opening prices: the prices that symbolyse the beginning of the time period

as well as the highs and lows on the chosen timeframe.

Japanese candlesticks are based on the same principle as bar charts.
For better visualization, though, candlestick bodies are shown in different colors depending on  whether the price was rising or falling during the period.If the closing price is higher than opening price, the prices within the period were rising. Such a candlestick is called "bullish."

If the candlestick closed lower than it's opening, such a candlestick is called "bearish."

You can choose different colour schemes for bars and candlesticks in the "Properties" window of the chart.