Most traders use the MT5 trading platform for its indicators, speed, and automation—but few leverage its most powerful feature: the Types of chart in MT5. While many stick to candlesticks, the real edge lies in understanding how each chart type reveals a different layer of market structure.

In this article, we’ll go beyond the standard candlestick tutorial and explore how each Type of chart in MT5 exposes unique market behaviors—helping you spot high-probability setups before others see them.

Why Chart Type Choice Matters More Than You Think

Most traders believe that chart type is just a visual preference. But in reality, each chart type filters market noise differently, revealing distinct aspects of price behavior.

Think of it like viewing a city through different lenses:

• A satellite view (line chart) shows the overall layout.
• A street map (candlestick) shows roads and traffic.
• A 3D model (Renko) strips away distractions to show only elevation changes.

The MT5 trading platform gives you all these lenses. The key is knowing when to use each.

The 5 Types of Chart in MT5—And What Each Reveals

1. Candlestick Charts – The Market’s Emotion Meter

Candlesticks don’t just show price—they show market sentiment.

• Long green candles with small wicks = strong bullish conviction
• Spinning tops or dojis = indecision
• Shooting stars with long upper wicks = rejection at resistance

When to Use: Best for short-term entries and spotting reversals during high-volatility sessions.

🔍 Pro Insight: Use candlesticks on M15–H1 to catch institutional order flow imbalances.

2. Bar Charts (OHLC) – The Institutional Trader’s View

Bar charts are the preferred choice of professional floor traders because they’re clean, uncluttered, and precise.

Each bar shows:

• Open (left tick)
• High (top)
• Low (bottom)
• Close (right tick)

No colors, no psychology—just raw data.

When to Use: When you want to eliminate emotional bias and focus purely on price structure. Ideal for H4 and D1 trend analysis.

🔍 Pro Insight: Bar charts make fakeouts more obvious—watch for long wicks that fail to close beyond key levels.

3. Line Charts – The Macro Trend Detector

The line chart connects closing prices only—filtering out all intraday noise.

This makes it perfect for:

• Identifying long-term trends
• Spotting major support/resistance zones
• Confirming whether price is truly in a trend or just oscillating

When to Use: Always open a D1 line chart alongside your main chart. If the line is flat, you’re in a range—don’t trade breakouts.

🔍 Pro Insight: If the D1 line chart is rising but your H1 candlesticks are choppy, it’s a sign of accumulation—prepare for a breakout.

4. Renko Charts – The Noise-Free Trend Engine

Renko charts ignore time and only plot price movement in fixed "brick" sizes (e.g., 10 pips).

This means:

• No small wicks or false breakouts
• Only meaningful moves are displayed
• Trends are crystal clear

When to Use: For swing and position traders who want to filter out market noise and ride strong trends.

🔍 Pro Insight: A 3-brick reversal on a Renko chart often signals a real shift in momentum—use it as confirmation for H4 entries.

5. Point and Figure (P&F) – The Pure Supply/Demand Map

P&F charts (available via MT5 add-ons) track only significant price moves, ignoring time and minor fluctuations.

They reveal:

• Key breakout levels
• Measured move targets
• Long-term support/resistance

When to Use: For long-term forecasting and identifying major turning points before they happen.

🔍 Pro Insight: A 3-column reversal in P&F often predicts a 50–100 pip move—set alerts at the target zone.

How to Combine Chart Types for a Multi-Dimensional Edge

Don’t rely on one chart type. Use a layered approach:

This multi-chart framework helps you avoid false signals and trade with higher confidence.

Final Thoughts

The MT5 trading platform isn’t just a tool for executing trades—it’s a market microscope. By mastering the Types of chart in MT5, you gain access to different layers of market truth.