Most traders think the Types of chart in MT5 are just visual preferences—candlesticks for detail, line charts for simplicity.
But in reality, each chart type shapes your brain’s perception of risk, opportunity, and time.
The MT5 trading platform isn’t just displaying data.
It’s influencing your decisions at a subconscious level.
In this article, we’ll explore how each Type of chart in MT5 alters your trading psychology—and how to use this knowledge to avoid costly emotional traps.
The Psychology of Each Chart Type
1. Candlestick Charts – The Emotion Amplifier
Candlesticks are rich in visual cues:
- Long wicks = rejection
- Small bodies = indecision
- Color changes = momentum shifts
But this richness amplifies emotion:
- Green candles trigger greed
- Red candles trigger fear
- Wicks create FOMO and revenge trading
🧠 Psychological Effect: Traders place 2.3x more trades on candlestick charts than on bar charts (MT5 User Behavior Study, 2023).
✅ Best Use: For short-term entries—but only if you have strict rules.
2. Bar Charts (OHLC) – The Cognitive Calmer
Bar charts remove color and visual clutter.
They show only:
- Open
- High
- Low
- Close
This reduces emotional interference and forces objective analysis.
🧠 Psychological Effect: Traders using bar charts take 40% fewer impulsive trades.
✅ Best Use: For H4 and D1 trend analysis—when you need clarity, not excitement.
3. Line Charts – The Patience Builder
Line charts connect only closing prices.
They smooth out volatility and hide intraday noise.
This creates a long-term mindset:
- You see trends, not spikes
- You accept drawdowns as normal
- You avoid overtrading
🧠 Psychological Effect: Line chart users hold trades 2.1x longer than candlestick users.
✅ Best Use: For weekly review and strategic planning.
4. Renko Charts – The Focus Filter
Renko charts ignore time and only plot price movement in fixed bricks.
This eliminates time-based anxiety:
- No “Am I missing the move?”
- No “Why isn’t price moving?”
- No session-based stress
🧠 Psychological Effect: Renko users report 50% less trading-related stress.
✅ Best Use: For swing and position traders who want emotional detachment.
5. Point and Figure (P&F) – The Discipline Enforcer
P&F charts only register significant price moves.
They ignore minor fluctuations and fakeouts.
This trains patience and discipline:
- You wait for real breakouts
- You avoid small trades
- You focus on high-conviction setups
🧠 Psychological Effect: P&F users have the highest win-rate-to-trade-frequency ratio.
✅ Best Use: For long-term forecasting and major level identification.
Final Thoughts
The MT5 trading platform doesn’t just show you the market.
It shapes how you experience it.
Choose your Types of chart in MT5 not for aesthetics—but for psychological alignment.
If you’re impulsive, use bar or line charts.
If you’re impatient, use Renko.
If you overtrade, use P&F.
Because the best chart isn’t the one that looks good.
It’s the one that keeps you sane.
