MT4 Bar Charts
A Bitcoin chart is a graphical representation of bitcoin price movement of a bitcoin instrument over a given period of time.
Drawn on a grid & user is at liberty to choose which crypto chart timeframe they want to trade with. The trader may choose to use hourly cryptocurrency charts, daily charts or even 1 minute crypto chart timeframes.
To draw cryptocurrency charts, Three methods are used. Methods used to draw the crypto charts defines the type of bitcoin chart.
The three types of crypto charts are: - Candlesticks Charts - Bar Charts - Line Bitcoin Charts
- Line charts
- Bar charts
- Candles crypto charts - Most popular
Line Bitcoin Chart
A single line is drawn from one closing bitcoin price to the next, forming a continuous line.
This type of chart provides very little information on the chart and is therefore not very popular among traders. In fact this type of bitcoin chart is rarely ever used.
Line Bitcoin Chart in Bitcoin - This type of chart leaves out important data about bitcoin price movement. Information such as opening, high & low point of the bitcoin price which are not represented on the trade graph.
This makes this type of crypto line chart to be considered sketchy by cryptocurrency trade technical analysts.
The chart below displays example of a line bitcoin chart.
Bar BTCUSD Chart
Bar Charts - This type of chart shows the opening, closing, the high and the low, for a particular bitcoin price interval and is represented by bars that look like the ones drawn below - hence its name bar bitcoin charts
- Bar Charts - bar chart has a vertical bar showing the total bitcoin price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High & low denoted by the highest & lowest point
However, these bitcoin trading bar crypto charts aren't very easy to work with, especially when they aren't magnified. It becomes very hard to interpret the bar crypto charts with ease when trading the btcusd market thus making them not very popular among traders.
A Bar chart that isn't magnified makes it hard to view the opening & closing bitcoin price as illustrated by this example:
Candle BTCUSD Chart
Candlesticks Charts - This is the most widely used type of charts, they resemble candle-sticks, thus their name - candlesticks bitcoin charts.
Candlesticks charts shows opening, closing, the high & the low of a particular bitcoin price interval.
The range between the open bitcoin price & the close bitcoin price is called the body of the candle-stick.
Bitcoin candlesticks crypto charts is the most popular type of crypto charts among online bitcoin traders because it's the easiest to interpret when trading the btcusd market. Bitcoin candlestick charts also gives a lot of data about the bitcoin price movement. This makes crypto candles charts the most widely used type of charting in Bitcoin.
Candles Bitcoin Charts
Shown Below is an example of candlesticks charts. To learn & know more about crypto candle-sticks charts, read this topic: Technical Analysis of Japanese Bitcoin Candlesticks Setups in Bitcoin Trading.
How to Select These Bitcoin Chart Types on MT4 Software
To draw any of the types of crypto charts on the MT4 Software a trader can use the buttons below found on this MT4 platform.
Drawing Bitcoin Charts on MetaTrader 4
- To Select a Bar Bitcoin Chart Click the Bar Button Key
- To Choose a Candlesticks Bitcoin Chart Click the Candlestick Button
- To Select a Line Charts - Click the Line Button
What is a Trade Plan? - Bitcoin Trading Plan Example
Alternatives: Expert Advisor Automated Robots or Copy Trading Signals
