How to Read Charts and Change Timeframes on MetaTrader 5
How to read charts on MetaTrader 5: the 21 timeframes and which to use, candlestick anatomy, why the chart shows the bid, templates and objects, and the server-time setting that changes how every session looks.
A MetaTrader 5 chart is a price history you can annotate, not an analysis tool in itself. This guide covers the mechanics — timeframes, chart types, templates, objects — and two details that change what you are looking at: the chart shows the bid, and the times along the bottom are server time, not yours.
Key Takeaways
- 21 timeframes from M1 to MN. Three, several times apart, is the usual working set.
- The chart plots the bid. The ask sits above it by the spread, which matters for short positions.
- Times on the chart are server time, which is often not your local time.
- Templates save a layout; profiles save a whole set of charts.
Opening and Switching
Right-click a symbol in Market Watch → Chart Window, or drag the symbol onto an open chart to switch it.
Timeframes are on the toolbar or under Charts → Timeframes:
| Group | Periods | Typical use |
| Minutes | M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30 | Intraday execution |
| Hours | H1, H2, H3, H4, H6, H8, H12 | Setups; the working chart for many approaches |
| Days and above | D1, W1, MN | Bias and structure |
Twenty-one is more than anyone needs. Three, roughly four to six times apart, is the standard working set — see multi-timeframe analysis, which also covers the failure mode of dropping through timeframes until one agrees with you.
Reading a Candle
Each candle covers one period. The body spans the open and close; the wicks reach the high and low. A body that closes above its open is conventionally drawn one colour, below its open another — the colours are set in Properties, not fixed.
A candle describes what happened in that period. It does not predict the next one; see price action trading for how candles are read in the context of structure rather than in isolation.
Chart types available under Charts → Chart Type: bar, candlestick, line. Candlestick is the default working choice.
The Chart Shows the Bid
This is the detail that produces the most confusion. MT5 plots the bid price by default. The ask sits above it by the spread.
The consequence: a long position's stop is triggered at the bid, which is what you see. A short position's stop is triggered at the ask, which is above the visible line. When the spread widens, a short's stop can trigger while the chart's line is still below it — which looks like an error and is not. An ask line can be enabled in chart Properties, and it is worth enabling if you trade shorts.
Server Time
The times along the bottom of the chart are the broker's server time. It is frequently not your local time, and it does not necessarily match UTC. Every session boundary, every daily candle open and every "which day is this candle" question depends on it.
Check it once, note the offset from your own timezone, and re-check after each daylight saving change. See global market trading hours.
Objects and Indicators
Objects — horizontal lines, trend lines, rectangles, text — are added from the Insert menu or the toolbar. Horizontal lines marking levels are the most used object on any chart, and the discipline that matters is marking them before price arrives rather than after.
Indicators are dragged from the Navigator or added from Insert → Indicators. A fixed, small set chosen in advance is a rule; a growing set consulted until one agrees is confirmation bias.
Templates and Profiles
A template saves a chart's settings — timeframe, indicators, objects, colours — and applies them to any other chart. Right-click → Template → Save Template.
A profile saves an entire set of open charts. Switching profiles switches the whole workspace, which is useful if you follow different instruments at different times of day.
Useful Chart Settings
| Setting | Where | Why |
| Show ask line | Properties → Common | Makes short stops visible |
| Chart shift | Toolbar | Leaves space at the right edge for pending levels |
| Auto scroll | Toolbar | Follows the newest candle; turn off when studying history |
| Period separators | Properties → Common | Marks day boundaries in server time |
| Show trade levels | Properties → Common | Draws open positions, stops and targets on the chart |
The last one is worth enabling: it lets you drag a stop or target directly on the chart. See how to set stop-loss and take-profit on MT5.
Common Mistakes
- Assuming chart time is local time.
- Forgetting the chart is the bid when placing or reading a short's stop.
- Adding indicators until one agrees.
- Marking levels after the price has reached them.
- Trading a timeframe different from the one the setup was defined on.
How do I change the timeframe on MT5?
Use the timeframe toolbar or Charts → Timeframes. Keyboard shortcuts can also be assigned.
Why does the chart price differ from the price in my order ticket?
The chart shows the bid; a buy executes at the ask, which is higher by the spread.
What timezone does MT5 use?
The broker's server time, which is not necessarily your local time or UTC. Check it and note the offset.
How do I save a chart layout?
Save it as a template, and save a set of charts as a profile.
How many indicators should I use?
A small set fixed in advance. The number is less important than the fact that it does not grow during analysis.
Related Guides
How to use MetaTrader 5 · How to open and close a position on MT5 · How to set stop-loss and take-profit on MT5 · Multi-timeframe analysis · Price action trading · Global market trading hours
Put this into practice
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