OHLC stands for Open, High, Low, Close, which are the four key price points used in technical analysis to understand price movement within a specific time period. These values are commonly used in candlestick charts or bar charts and represent:
Open: The price at which the asset was first traded during the specified time period.
High: The highest price reached during the period.
Low: The lowest price reached during the period.
Close: The last price at which the asset was traded before the period ended.
By analyzing the OHLC values, traders can assess market trends, volatility, and potential future price movements, making it a fundamental tool in trading strategies.
To enable the display of Open, High, Low, Close (OHLC) values on a chart in MT5, follow these steps:
Locate the chart where you want to enable the OHLC values. You can either open a new chart window or use an existing one.
Right-click anywhere on the chart to open the context menu.
From the context menu, hover over "Properties" and then click on "Show."
In the "Show" tab, you will see various options related to the chart display.
Check the box labeled "Show OHLC" to enable the display of Open, High, Low, Close values on the chart.
Click on the "OK" button to apply the changes and close the properties window.
The OHLC values will now be visible on the chart, typically displayed as small horizontal lines or bars at each candlestick or bar on the chart.