Drawing Bar Cryptocurrency Charts in MetaTrader 4

The third option on the charts menu in MT4 platform is the "Bar Bitcoin Chart" button. This button is used to select the drawing method of cryptocurrency price movement as btcusd price bars.

To trade on btcusd charts a bitcoin trader may prefer to use the Bar Bitcoin Charts. The above menu button shows how a bitcoin trader can select this option on the MetaTrader 4 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 and to the right; these are used to show the opening (left horizontal dash) and the closing (right horizontal dash).

The highest point shows the high of the bitcoin price

The Lowest point shows the low of the bitcoin price

These four points Open, High, Close, Low are Known as OHCL, abbreviation of the first letter for these four levels, these four OHCL levels will be represented on every single bar.

These charts are not very popular among Bitcoin traders as they are not very appealing in terms of technical analysis and traders tend to favor other types.