What is the meaning of candles that look black and those that look white on the MT4?
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Basically the major component of a candlestick is the body, i.e. the part that forms the rectangular shape between the open and close points. While traditional Japanese candlesticks use black and white bodies, we use green and red in our representations as we believe the colours better define the market direction and we find them to be visually more striking. A green body means that the close is higher than the open and thus the price has increased over the period, whereas in a red body the closing price is lower than the opening price and the value has decreased over the period. The extension lines at the top and lower end of the candlestick bodies are called the shadows. The pinnacle point on the upper shadow is the high price of the period, while the lowest point on the lower shadow represents the low price of the period. If there is no shadow on the upper end of the candlestick body, it means that the close price (in the case of a green period) or the open price (in the case of a red period) = the high price. Conversely, if there is no shadow at the lower end of the candlestick body, it means that the open price (in the case of a green period) or the close price (in the case of a red period) = the low price of the trading period.
Hope that helps
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