Chart types: How to change chart type in WebTrader

As occurs with the MetaTrader Platform on WebTrader we also have 3 types of charts that will allow us to analyze a certain instrument and the evolution of the price over time. Although they are all formed based on the quoted BID price, we can’t see the same information in all of them.

The existing types of charts are:

• Line chart

• Bar chart

• Candlestick chart
  
  

Line chart

This is the simplest type of chart we can find; by definition, the line chart connects the closing prices in a certain period. For example, on an hourly chart, we can observe the closing prices of each hour.

To activate a line chart, click on the corresponding icon.

• Below, we can see the representation of a line chart in the new version of WebTrader for MT5:

• Here, we can see the representation of a line chart in WebTrader for MT4:

Bar chart

As in the previous case, this chart type is formed from the quoted BID price, but we can find more information. In this case, in each bar, we can observe the following values:

• Open price (dash left),

• Close price (dash right),

• Maximum price of the period,

• Minimum price of the period.

Therefore, at a glance, we can deduce whether, during this period, the price has experienced a bullish or bearish moment:

• The bar will be bearish if the opening price (left dash) is higher than the closing price (right dash).

• The bar will be bullish if the opening price (left dash) is lower than the closing price (right dash).

  

To activate a bar chart, click on the corresponding icon.

• Below, we can see the representation of a bar chart in the new version of WebTrader for MT5:

• Here, we can see the representation of a bar chart in WebTrader for MT4:

Candlestick chart

The candlestick chart or Japanese candlestick chart is similar to the bar chart type. Still, it is much easier to interpret visually because the “body” of the candle (colour or lack thereof) tells us if, during this period, the price movement has been bullish or bearish.

As in the previous case, in the Japanese candles, we can see the following information:

• Open price

• Close price

• Maximum price of the period (upper wick)

• Minimum price of the period (lower wick)

To activate a candlestick chart, click on the corresponding icon.

• Below, we can see the representation of a candlestick chart in the new version of WebTrader for MT5:

• Here, we can see the representation of a candlestick chart in WebTrader for MT4:

We can also change from one type of chart to another by right-clicking and selecting the desired type:

If you have any problems or questions with this procedure, please contact us.