3 Possibilities of Charts in MT4 Terminal You didn’t know about

How to adjust a chart in MT4 to suit you? How to change and fix the scale, change the timeframe, find the right panels? Life hacking for newbies in the foreign exchange market!

In order to profitably trade in the foreign exchange market, you must be able to work with price charts of currency pairs. The MetaTrader 4 trading terminal provides the trader not only with the ability to display charts as lines, bars or candlesticks, but also the way to change the charts themselves. Let’s talk in more detail about what can be done with the price charts in the MT4 terminal.

Scaling charts in MT4

First of all, a trader can change the timeframe of a chart. This is necessary for the correct analysis of the situation and the vision of a complete picture of the market. In addition, each type of trading requires different timeframes: scalping and pipsing – TF from M1 to M15, intraday trading – from M30 to H4, long-term – on the daily and longer timeframes.

To switch the timeframe, the terminal’s toolbar contains buttons with the names of time intervals.

By clicking the corresponding button, you can switch the chart to the desired time interval.

Sometimes it happens that such buttons on the toolbar are missing. This is very easy to fix. To do this, go to the tab “Toolbar View” and put a tick in front of the “Chart Period”.

In addition, on the same terminal toolbar, you can increase or decrease the size of the chart itself. The resolution of all monitors is different, so with this tool you can adjust the display of the chart to your monitor. It may also be necessary to increase a certain segment of the chart to full screen.

Change of distance from extreme price to an upper or lower limit of the open window

It often happens that the price of a currency pair comes very close to the top or bottom of the chart. Because of this, the trader does not see the levels at which you need to set stop-loss orders or take profit. Fixing this situation is not difficult.

First, you need to move the mouse cursor to the vertical price scale of the chart. If you are doing everything right, a “Vertical scale” pop-up will appear.

By holding down the left mouse button and moving the cursor up or down, you can compress and stretch the chart until reaching the levels you need.

Setting a custom price range

By default, the minimum and maximum of the vertical price scale of the chart independently adjust to the selected timeframe and increase or decrease the chart itself. However, the trader can independently specify the minimums and maximums of the price he wants to be displayed.

To do this, right-click on the empty space of the chart and select the “Properties” tab.

In the window that appears, go to the tab “Common” and put a tick in the “Scale Fix”. After that, in the corresponding fields, you need to enter the required values ​​of the minimum and maximum of the price scale of the chart and press the “OK” button.

Now, working with price charts in the MetaTrader 4 terminal, there are no “white spots” left for you, which means that the analysis of the market situation will become more accurate, which will affect your profit for the better.

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Regards, Michael

ForexTraderPortal.com