Time frames on MT4 chart: here’s how to change them

Time frame is a common term for trading time frames on the financial markets. However, when they start learning what a time frame is, new traders are often quick to choose a time frame that suits their strategy and style without fully understanding the times.

When studying the times, the most important thing is to understand how each candle in each time frame represents the meaning. This helps traders analyze candlesticks over time frames more accurately.

You would know how to combine multi-timeframe analysis for the best trading efficiency.

What is the time frame?

The time interval is the period of volatility of a candle in a trading session. Each candle is formed after a certain period of time.

Time intervals are from 1 minute to 1 month.

In a time interval of 1 minute, each candle shows the price movement for a period of 1 minute, and every minute a candle is formed.

Similarly, each candle is formed after a day (from 0:00 to 23:59) in a time interval of 1 day.

How to change times on MT4

There are 9 time frames offered on MT4, including:

  • M1: 1 minute
  • M5: 5 minutes
  • M15: 15 minutes
  • M30: 30 minutes time interval
  • H1: 1 hour
  • H4: 4 hours
  • D1: 1 day
  • W1: 1 week
  • MN: 1 month

How to Change Time Intervals on MT4 Chart

There are two ways to customize the time interval. The first way is quite simple. You need to click on any time interval in the toolbar, just above the chart.

Alternatively, you can also switch between time intervals by right-clicking on the chart and selecting “Time Ranges” and selecting the displayed time range (from 1-minute charts to monthly charts).

What does the timing mean in Forex trading?

Time frames help traders determine how long the movement of a candle or session is and the opening, high, low and closing prices of the asset during that period.

For example, the H1 time frame of the EUR/USD currency pair. When we look at the price chart in this time frame, we are provided with the following information:

  • For past candles, each candle floats for a period of one hour. If you choose H1. So you know which candle corresponds to that period, the price fluctuates up or down at that time, how much is the highest price, what is the lowest price and the opening and how much is the closing price.
  • Assuming you are looking at the current candle at 16:30, it means that this candle was formed from 15:00 and will end at 15:59. The opening price is determined at 15:00 and the closing price will be determined at 15:59. The highest and lowest prices will not be known until the candle is finished.

The image above is the price chart of the EUR/USD currency pair in the H1 time frame.

Using the horizontal time coordinates below to determine which candle belongs to which period is challenging. Then you just have to put the pointer on the high price of the bullish candle (hollow candle) or on the low price of a bearish candle (white candle). All trading information of that candle appears as shown in the picture, including the time (candle start time) ), Open, High, Low, Closing price and also the trading volume.

What are the best times in forex trading?

There are four popular trading styles in the forex market, classified according to position length, including scalping trading, day trading, swing trading and position trading. Each style is suitable for different time intervals.

It is essential not to choose which time frame. However, to determine in what style you are trading or what type of trading you will model yourself in.

New traders are often eager to see immediate profits, so they often choose very short time frames to trade like M1 or M5. Most of them fail miserably because trading with short time intervals requires traders with experience, knowledge and professional skills to improvise to unexpected market fluctuations.

Another point to note when choosing a time frame for trading is the eligibility of the account capital. If you trade over a short amount of time, you can fully set the stop loss or take the profit levels beyond the entry point because the distance between these points on the short time frame is negligible. Conversely, if the transaction on the time frame is as significant as D1 or W1, these distances are valuable, requiring you to have more substantial capital.

The image on the left is the time interval M5, on the right is the time interval D1. The distance from the entry point to the stop loss on the M5 chassis is quite simple, but it is shorter in the D1 time interval. The distance corresponding to the number of pips is unchanged.

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