On the MetaTrader platform, 3 types of charts will allow us to analyze a certain instrument and the evolution of the price over time. Although they are all formed based on the quoted BID price, we can only see the same information in some of them.

The existing types of charts are:

This is the simplest type of chart we can find; by definition, the line chart connects the closing prices in a certain period. For example, on an hourly chart, we can observe the closing prices of each hour.

To activate a line chart, click on the corresponding icon. Below, we can see the representation of a line chart in MetaTrader:

As in the previous case, this chart type is formed from the quoted BID price, but we can find more information. In this case, in each bar, we can observe the following values:

Therefore, at a glance, we can deduce whether, during this period, the price has experienced a bullish or bearish moment:

To activate a bar chart, click on the corresponding icon. Below, we can see this type of chart represented:

The candlestick chart or Japanese candlestick chart is similar to the bar chart type. Still, it is much easier to interpret visually because the “body” of the candle (colour or lack thereof) tells us if, during this period, the price movement has been bullish or bearish.

As in the previous case, in the Japanese candles, we can see the following information:

To activate a candlestick chart, click on the corresponding icon. Below, we can see this type of chart represented:

We can also change from one type of chart to another by right-clicking and selecting the desired type:

If you have any problems or questions with this procedure, please contact us.