How to read charts on MT4

Follow the steps below to open and read price charts on MetaTrader 4, including chart types, timeframes, candlestick reading, and trend identification.

1. Open your MT4 platform

Open your MT4 platform.

2. Open a chart window

In the Market Watch window, right-click a symbol and select “Chart Window”.

3. Choose your chart type

Choose your preferred chart type:

• Candlestick – most popular
• Bar chart
• Line chart

4. Select a timeframe

Select a timeframe based on your trading style:

• M1–M15 – short-term
• H1–H4 – medium-term
• D1+ – long-term

5. Understand candlesticks

Learn how to read candlestick colours and structure:

• Green/Blue candle = price went up
• Red candle = price went down
• The body shows open and close prices
• The wicks (shadows) show highs and lows

6. Identify the trend

Use price action to identify the current market trend:

• Uptrend → higher highs & higher lows
• Downtrend → lower highs & lower lows
• Sideways → price moves in a range

7. Use indicators and drawing tools

Enhance your chart analysis with indicators and tools:

• Add indicators via Insert → Indicators (e.g. Moving Average, RSI)
• Use drawing tools such as trendlines and support/resistance levels

8. Zoom in/out and scroll

Zoom in/out and scroll to analyse price movements more clearly.