Learn how to use the crosshair in MetaTrader 4 with our step-by-step guide. Enhance your trading precision and analysis with this tool
On the last tip, we saw how to place orders on Metatrader 4. Today, we will focus on learning How to Use the Crosshair tool on MT4.
How to use the Crosshair
A crosshair is a valuable tool that provides traders with crucial information. Specifically, it offers the coordinates of the selected point on a chart. In addition, it can calculate and display the number of pips between two points within the selected time section of the graph. Thus, traders can quickly assess both precise location and relative price movement.
By clicking on the third mouse button or Ctrl+F, the CrossHair tool will be activated. That way, you can know the date, time, and value of a point in the chart.
If you release the left mouse button and move the cursor, the program will draw a line connecting the two points. Furthermore, this line displays key information, including the number of bars between the two points, the number of pips between them, and finally, the actual value of the second point.
In this example, the starting point on the bar from 2021.01.25 13:00. The Open is at 1.21576, the High and Low are at 1.2627 and 1.21545 respectively and the Close is at 1.21569.
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As shown below, when you click the left mouse button and move the cursor, a line appears, linking two points. Specifically, this line displays three key pieces of information: first, the number of bars between the two points; second, the number of pips between them; and finally, the actual value of the second point.
MetaTrader 4 Multi Account Manager – MAM Software
The Tradeview MAM plugin is a simple, fast, effective, and reliable addition to the MetaTrader 4 System.
