Forex traders use charts to determine market direction and identify possible buying and selling opportunities. There are three types of charts commonly used in Forex that you can flick between on MT4/5:
Line Chart
Plots only the closing prices over a period of time.
Simple and clean, but lacks detailed price information (like highs and lows).
Best for spotting long-term trends.
Bar Chart (OHLC Chart)
Each bar shows the Open, High, Low, and Close prices for a time period.
Provides more detail than line charts.
Useful for identifying volatility and price ranges.
Candlestick Chart
Similar to bar charts but uses "candles" (bodies and wicks) to show OHLC.
Very popular among traders because they are easy to read and visually clear.
Candlestick patterns (like doji, hammer, engulfing) help predict market sentiment.
