MetaTrader Tips – Understanding MetaTrader Charts

admin — Mon, 08 Feb 2010 06:47:55 +0000

The current price shown on an MT4 chart is the bid price. When looking at a price bar or candle, you must add the spread to the high bid price to know what the high ask price would have been, or add the spread to the low bid price to know what the low ask would have been.

If you are in a sell (in at the Bid out at the Ask), you would not see the candle reach your stop loss if you are taken out of the trade. For example with a stop loss of 1.4580 on the EURUSD once the chart reached 1.4578 (2 pip spread) you would be taken out of the trade at 1.4580. Your take profit would not trigger until the ask price hits. For example with a take profit of 1.4540 on the EURUSD once the chart reached 1.4538 (2 pip spread) you would be taken out of the trade at 1.4540. These examples are based on our spread shown under normal market conditions. Our spreads are not fixed and will fluctuate with news or other high / low volume conditions.

If you are in a buy (in at the Ask and out at the Bid), you will see the bid price on the chart.

MetaTrader Australia » MetaTrader Charts

MetaTrader Tips – Understanding MetaTrader Charts