Drawing Bar Cryptocurrency Charts in MetaTrader 5
The third option on the charts menu in MT5 platform is the "Bar Bitcoin Chart" button. This button key is used to select the drawing technique of bitcoin trading price movement as bitcoin trading price bars.
To trade bitcoin a trader may prefer to use the Bar BTCUSD Charts. The above menu button shows how a trader can select This MT5 option on the MetaTrader 5 Platform.
These are drawn using color coding:
- Red bar - Bitcoin Price went down
- Blue bar - Bitcoin Price market went up
These bars also have horizontal line to the left & to the right: these are used to explain the opening (left horizontal dash) & the closing (right horizontal dash).
highest point shows the high of the bitcoin trading price
The Lowest point shows the low of the bitcoin trading price
These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these 4 levels, these four OHCL levels will be represented on each & every single price bar.
These charts are not very popular among Bitcoin traders as they are not very appealing in terms of cryptocurrency trading technical analysis & traders tend to favor other types.
