Understanding the Principles of MetaTrader 4 Charting With Vantage FX UK

LONDON, February 1, 2012 /PRNewswire/ --

At Vantage FX UK (http://www.vantagefx.co.uk/), traders can take advantage of the innovative MetaTrader 4 platform. Integrated into the award-winning system is Meta Charts, a powerful charting package which includes 30 technical indicators, 20 line studies and a range of additional features to mesh with MetaTrader's auto-execution technologies. Here, Vantage FX UK takes a look at the different types of chart available with Meta Charts:

Line Chart

This style of chart is created by connecting a series of data points together with a single line. This is the most basic type of chart used in finance and it is generally created by connecting a series of historical prices together with a line.

Bar Chart

Bar charts offer a visual representation of price activity over a given period of time. This type of chart is favourable among Forex traders because it enables fast recognition of trends and patterns. A vertical line is constructed for each trading period on the chart, the length of which is determined by the highest and lowest price that currency traded for the period. The opening price is denoted by a small horizontal line on the left of the vertical bar, and the closing price by a similar line on the right side.

Candlestick Chart

The candlestick chart is a price chart that displays the high, low, open and close over a chosen period of time. It adds dimension and colour to the bar chart by depicting the area of the bar between the open and close as a two dimensional real body; this area is shaded white or green for an up time period and black or red for a down time period. Extensions beyond the range of opening and closing prices are shown as lines that reach to the high and low reached within the given time period.

Vantage FX UK provides traders with a comprehensive education service including a 30-day MetaTrader 4 demo account and daily currency market insights. Find out more about Vantage FX UK at: http://www.vantagefx.co.uk/

Trading derivatives and Forex carries a high level of risk to your capital and you should only trade with money you can afford to lose. Forex trading may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

About Vantage FX UK

Vantage FX UK is an internationally recognised currency trading broker based in the City of London, providing foreign exchange trading services to clients in the UK, the EU and the rest of the world.  

What sets Vantage FX apart is its wide range of services and outstanding level of customer support. The company strives to provide an intuitive, interactive Forex experience by continually innovating and taking advantage of the latest trading technology, such as MetaTrader 4 and Expert Advisors.

Vantage FX also offers extensive educational resources to help give traders their edge, keep up with daily market commentary and try a MetaTrader 4 demo account. For further information on Forex trading at Vantage FX, visit http://www.vantagefx.co.uk/