3 CHARTING FEATURES IN THE MT4 TERMINAL THAT YOU MAY NOT HAVE KNOWN ABOUT
How to customize the schedule in MT4 for yourself? How to change and fix the scale, change the timeframe, find the necessary panels? Lifehack for beginners in the forex market!
In order to profitably trade in the foreign exchange market, you must be able to work with the price charts of currency pairs. The MetaTrader 4 trading terminal provides the trader with not only the ability to display charts in the form of lines, bars or Japanese candles but also a way to change the charts themselves. Let’s talk in more detail about what you can do with price charts in the MT4 terminal.
GRAPH SCALING IN MT4
First of all, the trader can change the time interval of the chart. This is necessary for a proper analysis of the situation and vision of a complete picture of the market. In addition, each type of trading involves trading on its own timeframes: scalping and pipsing on TFs from M1 to M15, intraday trading on TFs from M30 to H4, long-term on daytime and older.
To switch the timeframe on the terminal toolbar are buttons with the names of time intervals.
By clicking the appropriate button, you can switch the schedule to the desired time interval.
Sometimes it happens that such buttons on the toolbar are missing. Fixing this is very simple. To do this, go to the tab “View Toolbars” and check the box Schedule period In addition, on the same toolbar of the terminal, you can increase or decrease the size of the chart itself. The resolution of all monitors is different, so using this tool you can adjust the display of the graph for your monitor. It may also be necessary to increase a certain section of the graph in full screen.
CHANGING THE DISTANCE FROM THE PRICE EXTREME TO THE UPPER OR LOWER BORDER OF THE WORKING 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 stop loss or take profit orders need to be set. Correcting this situation is not difficult.
First, you need to move the mouse cursor to the vertical price scale of the chart. If you do everything correctly, a pop-up inscription Vertical scale will appear By holding the left mouse button and moving the cursor up or down, you can compress and stretch the graph until the levels you need appear.
SETTING A CUSTOM PRICE RANGE
By default, the minimum and maximum of the chart’s vertical price scale automatically adjust to the selected timeframe and increase or decrease the chart itself. However, the trader can independently indicate the minima and maxima of the price he needs to display.
To do this, right-click on an empty space in the chart and select the “Properties” tab.
In the window that appears, go to the “General” tab and put a checkmark in the “Fix scale” item. After that, in the appropriate fields you need to enter the required values of the minimum and maximum price scale of the chart and click “OK”.
Now, when working with price charts in the MetaTrader 4 terminal, there are no “white spots” for you, which means that an analysis of the market situation will become more accurate, which will affect your profit for the better.