When it comes to charting on MetaTrader 5 (MT5), line charts often get the short end of the stick. Ask any prop firm trader what they use, and you’ll hear “candlesticks” nine times out of ten. Bar charts may get an occasional nod. But line charts? They’re usually dismissed like yesterday’s lunch.
But wait—before you totally write off the simple line chart, let’s examine it more closely. Are they truly useless in the high-stakes, high-speed world of prop firm trading? Or are there some circumstances where line charts can be beneficial—even a secret ally in your trading arsenal?
Let’s discuss from the point of view of prop traders on MT5.
What Is a Line Chart?
A line chart in MT5 is the most basic way to show prices. It links closing prices from one period to the next with a line, producing a smooth flow of the price movement of the market.
That’s all—one line, no open-high-low soap opera like in candlestick or bar charts. It’s stripped down. Simple. No mess.
But that simplicity is precisely why the majority of traders simply gloss over it, particularly in prop shops where quick, data-dense decision-making is the game. Traders need all the teeny bits of information right in front of them—price wicks, body sizes, reversals, volume overlays. Why then use something that resembles a squiggle?
Why Prop Firm Traders Don’t Often Use Line Charts (And Why That’s Not Always Great)
In the prop firm world, there is no margin for error. Every trade, every click, every pip counts. No wonder, then, that traders gravitate towards candlesticks because they’re data dense and visually evocative. You can observe indecision. You can observe buildings in reverse. You can interpret the story of the market bar by bar.
Line charts? They’re like seeing the movie trailer rather than the entire film.
But sometimes that trailer is just what you need.
The Benefit of Cutting Through Noise
One of the greatest issues traders struggle with—particularly prop traders who are stressed—is noise. Too many signals. Too many indicators. Too much chart clutter.
Line charts cut through all that.
They reduce the market to its fundamental direction. No wicks, no false breakouts, no over-analysis of one candle. Just the trend. Just the flow.
This can be particularly useful in higher timeframes. If you’re looking at a daily or weekly chart, and you need a quick look at the general direction without the distraction, line charts can provide that in one look.
You recognize that moment when you zoom in and suddenly it all makes sense? That’s the line chart magic. It provides you with the macro picture—the big picture prop traders sometimes get so caught up with that they forget to look at it when they’re mired in M5 and M15 candles.
Applying Line Charts in MT5: A Strategic Framework
There are a couple of real-world applications where line charts really excel—and might even gain you an advantage.
Reading the Trend Without Interruptions
Suppose you’re building a trend-following system for your prop firm challenge. You fire up your chart, and there’s a jungle of candlesticks—false signals galore.
Change to a line chart.
Suddenly, you can tell if the price is printing higher highs and higher lows without getting lost in all the candle chatter. The larger trend becomes clear. It’s like the market is saying softly, “This way, buddy.”
Better still? Add a moving average or two to the line chart, and you have yourself a streamlined trend recognition system.
Support and Resistance: Simplified
Ever have trouble with drawing clean resistance and support lines?
There are so many wicks on candlesticks that it is difficult to know where to draw your zones. Do you go with the body? The wick? Midway?
Switching to a line chart can make this process a whole lot easier. Since line charts are based on closing prices, they naturally smooth out the indecision. What you’re left with is often a more reliable set of horizontal levels that actually get respected.
And let’s be real: if you’re managing a prop account with strict drawdown rules, cleaner levels can mean the difference between passing or failing.
Rapid Top-Down Analysis
When prop traders are in a hurry—e.g., during time-limited analysis—they cannot always afford to spend hours reviewing each timeframe.
Line charts are great for top-down analysis.
Open the daily chart in line mode. Boom—you can see the bigger picture. Switch to H4—reaffirm the bias. Go down to M15 or M5 and bring back candlesticks if necessary for entries.
This hybrid method allows you to maintain your higher timeframe bias intact and apply candlesticks where they are most needed.
Clearness during High-Volatility Situations
Ever traded during news time? You know how crazy candlesticks become—giant wicks, fakeouts, reversals in seconds. It’s madness.
Line charts tone down that whirlwind.
By eliminating the spikes and only displaying the close, you can more accurately gauge what the market actually believed once the dust has settled. That’s particularly helpful in funded accounts where unexpected drawdowns from ill-timed entries can ruin your challenge.
Cleaner Charting for Presentations or Reviews
Many prop firms require traders to submit trade journals, screenshots, or strategy reviews. If you’re preparing visuals or teaching sessions for other traders in your firm, line charts can be a much cleaner way to present the overall picture without visual clutter.
They’re also easier to annotate.
Think “executive summary” for your trading.
