The grid refers to the numerous horizontal and vertical lines that form small boxes within the MT4 interface. By default, the grid is automatically loaded whenever you open a new chart. The picture below shows the grid loaded onto a 1-hour chart of the EUR/USD.
TIP: The grid can be used to calculate the risk-reward ratio quickly. For example, if your trading style implements a 1:3 risk to reward ratio, your Stop Loss (risk) can be placed at a distance of 1 grid from the entry price, and your Take Profit price (reward) can be set at a distance of 3 grids in advance of the current price.
There are four main ways in which you can load the grid on to a chart:
1. Pressing CTRL + G (quickest way).
2. Click on the “Charts” tab located on the top left side of the screen, then click on “Grid” in the drop-down menu as illustrated in the snapshot below.
3. Right-clicking on a chart and clicking on “Grid” as illustrated in the image below.
4. The longest method is a multi-step process which commences by clicking the F8 button.
When you press F8, the pop-up window shown below will open, allowing you to edit many preferences in how your chart displays.
Click on the “Common” tab, then either check or uncheck the box next to “Show Grid,” as shown in the picture below.
Clicking the “OK” button completes the process.
- How to add or remove the grid
- How to add or remove horizontal and vertical lines and view the objects list
- How to use the crosshair
- How to select different chart types
- How to customize appearance of charts
- How to create a chart template
- How to load a chart template
- How to view and move between multiple charts