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| Candlesticks |
How many types of charts available in forex meta trader? in simple words, there are three charts patterns available in your meta trader, candle stick chart, line chart and bar chart, the most famous is candle stick chart, though people use bar charts to analyze the market too, but the most famous is candlestick chart. Almost 90% of traders use candle stick chart to analyze the market.
There are several ways to analyze the market through candle stick chart, some analyze from the previous day candle stick, some see in weekly and some see in monthly chart to analyze the market. I personally prefer to see daily and weekly chart to understand the market trend.
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| bars |
We can customize the color of candle stick chart, we can change the color of the candles to any of our choice, for example, if we see the buying candle then it will be green by default and if selling then it will be black by default, if we want to change the color of candles according to our need then the option is available in meta trader, so that we would be able to see the candle with the color of our
choice, it will also help us to understand the trend of market. |
| Time frame |
The chart has different time duration to see the candles, that is from 1 minute to monthly basis. You can change the chart duration from 1M to M1, these charts are used for the analysis of market, mostly day traders use these charts to analyze the market.
Scalpers mostly
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| line chart |
use M15 to M30 chart to analyze the market and find the opportunity of trading in meantime, if they see that market is in normal mode then they will m
ake their strategy according to that mode, they will also keep this thing in their mind that what are the up coming big news that may fluctuate the market and what are the circumstances where they can play with their pips.
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