How to Customize a Chart in MetaTrader 4
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If you have an idea on how to customize the charts as your preference, please follow the guide below. After reading this guide you will be able to:
- Modify chart properties in MetaTrader 4
- Add indicators/drawing tools into the chart
- Arrange charts
How to change chart colors in MT4
The MT4 chart appearance is easily customizable. You can easily change its color and its elements’ colors.
To modify the MT4 chart color:
- Right-click anywhere on the chart and select ‘Properties’ from the menu. Alternatively, you can press F8 to open the ‘Properties’ window.
- In this window, you will see two tabs: Colors and Common. The Colors tab is used for changing the chart colors. You can change the color scheme or set up colors of individual elements by clicking on the arrow next to them.
- Click on OK to complete the modification.
How to change additional settings in MT4 chart
Other settings can be conducted in the Common tab. When you click on the ‘Common’ tab, you can change chart configuration and add some features which are listed below:
- Offline chart – It allows you to do research and analysis without any subsequent price updates. These charts turn out as very useful for working with non-standard securities or periods.
- Chart on foreground – When this option is selected, the chart is displayed in the foreground, while any drawings are displayed in the background.
- Chart shift – Offers empty space to the right of the chart. Shift the graphic to the left to make room on the right
- Chart autoscroll – Shifts the chart automatically as new candlesticks/bars appear.
- Scale fix One to One and Scale fix – Allows that the chart can be set between a minimum and maximum value. It’s best to keep this option unchecked.
- Switch between different chart types (Bar chart, Candlesticks or Line chart).
- Show OHLC – Shows Open, High, Low, and Close in the top left corner.
- Show Ask line – Displays the Asking price.
- Show period separators – Separators for periods (For example, H4 time frame chart show weekly period separators).
- Show grid – Shows grid on the chart
- Show volumes – The volume of trades is shown.
- Show object descriptions – When text/trend lines and other drawing tools are added to the chart, the object descriptions are displayed.
Then click Ok to complete.
How to add chart indicators & drawing tools
The MT4 platform offers various indicators and drawing tools for technical analysis so that traders make better decisions and trade more effectively.
Indicators or drawing tools can be added to the chart by clicking on Insert > Indicators or drawing objects (Lines, Channels, Gann, etc) right below. Then you will view the list of selections offered by MT4.
Also, you can use drawing tools available in the toolbar for a quicker access.
If you open multiple charts in your trading platform, you can easily organize them by clicking Window in the main menu, then choose your prefered chart arrangement type.
MT4 provides you with several chart tools and you can easily modify the chart to your needs. Then if you satisfy with your customization, you should save a chart template on MetaTrader 4 with your preferred settings for quick reference for the future.
Read more: MT4