Customising trading charts in MetaTrader 4 (MT4) allows traders to tailor their workspace to suit their trading style. With its flexible charting tools, MT4 enables users to change chart types, colours, indicators, and much more. In this article, we will guide you through the process of customising charts in MT4 so you can enhance your trading experience.

Understanding MT4 Chart Customisation

MT4 provides a range of options to modify the appearance and functionality of charts. Customising your charts can help you better visualise market data, make more accurate trading decisions, and increase overall efficiency. Whether you want to change the chart layout, add technical indicators, or alter the colour scheme, MT4 makes it all possible.

How to Customise Chart Types in MT4

The first step in customising your trading chart is choosing the chart type that best suits your preferences. MT4 offers several chart types:

1. Bar Chart: Displays price movements as vertical bars, with each bar representing a specific time period.
2. Candlestick Chart: Similar to the bar chart but provides a more visual representation of price action with “candles” showing the open, high, low, and close.
3. Line Chart: A simple chart that connects closing prices with a continuous line.

To change the chart type:

1. Right-click on the chart and select Properties.
2. Under the Chart tab, select your preferred chart type (Bar, Candlestick, or Line).
3. Click OK to apply the changes.

Alternatively, you can quickly switch between chart types using the toolbar at the top of the platform.

Customising the Chart Colours

The colour scheme of your trading charts plays a key role in your ability to analyse market data effectively. Customising the colours can help make the chart easier to read and more visually appealing. Here’s how to change the chart colours in MT4:

1. Right-click on the chart and select Properties.
2. In the Properties window, go to the Colors tab.
3. From here, you can change the colours of various chart elements, including:
   • Background: The background colour of your chart.
   • Grid: The grid lines that appear on the chart.
   • Bullish Candles: The colour for candles when the price is rising.
   • Bearish Candles: The colour for candles when the price is falling.
   • Bar Up: The colour for bars when the price is rising.
   • Bar Down: The colour for bars when the price is falling.
4. Select the colours you prefer for each element and click OK to save the changes.

Adding Indicators to Your MT4 Chart

Technical indicators are essential tools for analysing price data and making informed trading decisions. MT4 provides a wide selection of indicators, such as Moving Averages, RSI, MACD, Bollinger Bands, and more. To add an indicator to your chart:

1. Click on the Insert tab in the top menu.
2. Select Indicators from the drop-down list.
3. Choose the type of indicator you want to add (e.g., Trend, Oscillators, Volatility).
4. After selecting your indicator, configure its settings according to your preferences.
5. Click OK to apply the indicator to your chart.

Once added, the indicator will appear either on the price chart itself or in a separate window below the chart, depending on the indicator type.

Customising Chart Timeframes

MT4 allows you to choose from various timeframes to analyse price movements over different periods. You can easily switch between timeframes with just a few clicks:

1. On the toolbar at the top, you will see buttons for different timeframes (e.g., M1, M5, M15, M30, H1, H4, D1).
2. Simply click on the timeframe you wish to use, and the chart will automatically adjust to display the data for that timeframe.

For further customisation, you can add custom timeframes by right-clicking on the chart and selecting Timeframes > Custom.

Saving and Restoring Chart Templates

Once you’ve customised your chart layout, you can save the settings as a template, making it easier to apply the same customisation to other charts in the future. Here’s how:

1. After customising your chart, right-click on the chart and select Template > Save Template.
2. Give your template a name and click Save.
3. To apply the saved template to a new chart, right-click on the new chart and select Template > Load Template, then choose your saved template.

This feature saves time by ensuring your preferred chart settings are always ready to go.

Using Horizontal and Vertical Lines

Adding horizontal and vertical lines to your chart can help identify key price levels or time periods. To add these lines:

1. From the toolbar, select the Horizontal Line or Vertical Line tool.
2. Click on the chart where you want the line to appear.
3. To modify the line, right-click on it and select Properties. From here, you can change the colour, style, and thickness of the line.

These lines are useful for marking support and resistance levels or tracking specific price movements over time.

Customising the Chart Grid

The grid on your MT4 chart helps you read the price movements more accurately. You can customise the grid’s appearance by following these steps:

1. Right-click on the chart and select Properties.
2. In the Properties window, under the Colors tab, adjust the grid’s colour or disable it entirely by unchecking the Show Grid box.
3. Click OK to apply your changes.

Practical Tips for Customising Your MT4 Charts

• Keep it Simple: Don’t overcrowd your charts with too many indicators or lines. Focus on the key tools you need for your strategy.
• Use Multiple Timeframes: Combining charts from different timeframes (e.g., 15-minute, hourly, daily) can provide a more comprehensive view of market trends.
• Save Custom Templates: Save your chart settings as templates to quickly apply them to other charts without redoing the customisation.
• Utilise Hotkeys: Use hotkeys to switch between timeframes and chart types quickly, saving time during analysis.

FAQs

How do I change the chart style in MT4?
To change the chart style in MT4, right-click on the chart and select Properties. Then, under the Chart tab, choose your preferred chart style (Bar, Candlestick, or Line).

Can I customise the colours on my MT4 chart?
Yes, you can customise the colours of various chart elements (background, grid, candles, etc.) by right-clicking on the chart, selecting Properties, and adjusting the settings under the Colors tab.

How do I add indicators to my MT4 chart?
To add an indicator, click on the Insert tab, select Indicators, choose the type of indicator you want, and click OK to apply it to your chart.

Can I save my custom chart settings in MT4?
Yes, you can save your custom chart settings as a template by right-clicking on the chart and selecting Template > Save Template.

How can I add support and resistance lines to my MT4 chart?
You can add support and resistance lines by using the Horizontal Line tool from the toolbar and clicking on the chart at the desired price level.

What is the benefit of using a template in MT4?
A template allows you to save your custom chart settings (such as colours, indicators, and layout) and easily apply them to other charts without redoing the setup each time.

Conclusion

Customising your trading charts in MT4 can significantly enhance your trading experience. By adjusting chart types, colours, timeframes, and adding key indicators, you can create a workspace that aligns with your trading strategy. Saving templates and using tools like horizontal and vertical lines further streamline your workflow. Take the time to customise your charts, and you’ll be able to analyse the markets more effectively.