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- Chart Types
Candlestick charting is a very popular charting technique that may provide insight to a technical trader. Metatrader 4 allows you to use candlestick chart analysis.
Candle stick charting is actually an old Japanese charting technique. It has a great way of showing correlation between the open, high, low and close of a particular trading period in relation to periods before.
There are some patterns that technical traders believe are indicators of reversals in price when analyzing candlesticks. For example, an engulfing pattern at the top or bottom of a move is believed to indicate reversals by technical traders. This type of pattern is depicted by one candlestick that opens at the low and closes at the high and then stretches wider than the candle before it.
You can select refresh to make sure that you have the most up to date data in your chart. If you choose the volume option you will be able to see how many ticks each time period has. This means that for every time period, you will know how many times the price changed.
The common tab will allow you to modify other things to your liking like auto-scroll.
Auto scroll will automatically scroll your chart to the left once a new bid comes out. Auto-scroll can also be activated from the chart tool bar by selecting and pressing this button.