Setting Up Charts in MT5

MetaTrader 5 offers a unique trading experience providing many different charts to see and interpret. Let's take a look at the charts and explore how to use them effectively. 

Right-Clicking on a Chart

Let's work on a chart, by right-clicking on a chart, you can modify various chart settings. For instance, if you want to change the time interval, select the one minute option and all the charts will display one minute intervals.

Changing the Chart Type

Another feature is the ability to change the chart type. You can see the bar charts option and also view them as candlestick and line charts. It is possible to change all three of these different data from here.

Docked

There's also a feature called ''Docked.'' This feature allows you to open charts in separate windows. You can move the separated window to another screen. This makes the chart window somewhat independent from the MT platform. Clicking ''Docked'' again will embed the chart back into the main window. 

Auto Scroll

The Auto Scroll feature is another useful tool. When activated, the chart will automatically scroll to the right as new price data comes in. As a new candle forms, the chart will gradually shift to the left.

Chart Shift

If you select ''Chart Shift'', the chart shifts slightly to the left, leaving a space on the right side. This space can be used for drawing market predictions.

Zoom in Zoom Out Feature

With the ''Zoom In'' feature, you can enlarge the chart, and with the Zoom Out feature, you can reduce the chart. You can also use the magnifying glasses on the toolbar to do this.

Viewing Multiple Charts at Once

If you want to view multiple charts simultaneously, clicking the square icon on the toolbar will split the screen into different chart views. This allows you to monitor three to four different charts at the same time.

Adding Indicators

To add an indicator to the chart, go to the insert tab, select ''Indicators'' then ''Trend'' and finally ''Moving Average'' for example.

Similarly, you can add support and resistance levels and vertical time markers from this menu. You can also place Trend Lines. Right-clicking and selecting the Object list will display all the objects on the chart. You can remove any that you no longer need.

To change the chart colors, right-click and select ''Properties'' to access all color settings. 

Applying Changes

If you want to apply the changes you made to all charts, you can right-click, select, save template, and save your settings. When you open a new chart, it will display with the default settings. 

By right-clicking and selecting the Save Templates from the Templates tab, you can apply your customized settings. You can also add multiple indicators to the chart simultaneously.

Charts in Short

Setting up charts in MetaTrader 5 offers a range of customization options to enhance your trading experience. From adjusting chart types and time intervals to using features like Auto Scroll, Chart Shift, and Zoom, MT5 makes it easy to personalize your charts. You can also add indicators, support/resistance levels, and save templates for consistent setups across multiple charts.