Why there are letters on my charts instead of buy and sell arrows?

You need to re-install the Equis True Type Font in Windows:

־  Close MetaStock

־  Click Start | Settings | Control Panel

־  Double-click the Fonts icon

־  Click on File | Install New Font

־  In the lower, left corner, Change to the MetaStock program folder (usually C:\Equis\Mswin or C:\Program Files\Equis\MetaStock)

־  Highlight Equis (True type) that will appear in the List of Fonts column and click OK

־  Restart MetaStock and open your charts