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How to use trading charts

Using trading charts is straightforward and can be done in a few easy steps.

How to open a chart

In MT4, click on the File menu at the top left of the screen, then click New Chart. In the Market Watch window, you can select the currency pair chart you wish to view, select the Chart window and then click the New Chart icon.

Customising the appearance of charts

After opening the chart, right click on it and select Properties which can be found at the bottom of the menu. The first tab, Colours, allows you choose the colour scheme. The Common tab is where you can change certain features as well as the kind of chart you wish to view, such as a candlestick or line chart.

You can then save these as a template by clicking the Template icon in the toolbar and selecting Save Template or right click on the chart, select Template and then Save Template.

Adding preinstalled indicators to your charts

You will also find a selection of preinstalled indicators that can be added to your charts from the Add Indicators icon in the toolbar. If you then go to Trend, you can choose from Average Directional Moving Index, Bollinger Bands, Moving Average and Standard Deviation amongst others.

If you then click on Oscillators, you can choose from MACD and RSI etc.

Arranging Multiple Screens

Go to the Market Watch window and select the market you wish to view. Left click and drag it over the Chart section, which contains your open chart. The new chart, representing the selected market, will open in the existing Chart window. To organise multiple charts, simply left click and drag to the desired location.

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