There are mainly three trading chart types: candlestick charts, line charts, and bar charts.
The indicator "FourLegs" for MT4 introduced this time is a new chart drawing method completely different from all the other standard chart types. Using “FourLegs” may give rise to new trading ideas.
Read on to learn more about this "FourLegs" indicator and download it for free at the end of this article.
"FourLegs" displays the OHLC information in a sub-window chart. The following image is an enlarged image of "FourLegs". As you can see from this image, "FourLegs" is built from four lines (Open, High, Low and Close).
"FourLegs" is similar to a line chart, but also has the characteristics of a candlestick chart. It can be said that it is a very versatile indicator depending on how it is used.
This indicator, which is used to make the chart easier to read, has the advantage that OHLC information can be displayed in a sub-window instead of the main window. Therefore, if the main window is messed up and candlesticks are difficult to see, you may want to use this indicator.
Also, candlesticks may be difficult to see if you use an average foot indicator. “FourLegs” can be useful in such cases.
Information that is difficult to capture with a regular candlestick chart, which is useful for capturing market fluctuations as zones , can be more easily captured using this “FourLegs” indicator.
"FourLegs" displays OHLC information as a zone, which makes it easier to grasp trends and other information. Also, it may be easier to find chart patterns.
Download the “FourLegs” indicator from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how:
Forex Education - Basics:
Free Forex eBooks:
Forex Education - FX Brokers:
Forex Education - Technical Analysis:
Forex Education - Money Management:
Forex Education - Psychology:
Forex Education - Others:
Forex Interbank Trading: