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Line Studies Toolbar Menu on MetaTrader 4 Platform

Sometimes traders will say “oh, I cannot find Fibonacci expansion tool on my MetaTrader 4 where can I get it?”

 

The thing is that all these line studies are located on the line studies toolbar; however, by default not all are set to display, therefore a trader must know where to get these tools that are not displayed by default on the MetaTrader 4 Platform. So how can a trader add a tool, to the line studies toolbar shown below?

Line Studies Toolbar Menu on Metatrader 4 Forex Trading Platform

 

Customize a Toolbar

To add a tool not listed above a trader has to follow the following steps

  1. Right Click at the toolbar button to the left of this(Looks like a stack of coins)as shown below

How To Customize and Add Tools on THe Line Studies Toolbar in Metatrader 4

3. Click customize
4. Add all Tools

 

The following customize popup window will appear:

Add Line Tools To The Line Studies Toolbar on Metatrader 4 Forex Platform

 

Select all the tools from the left window and add them: After adding this will look like:

Customize and Adding All Tools to THe Line Studies Toolbar on Metatrader 4 Platform

 

The toolbar will now look like:

All Tools on Line Studies Toolbar in The Metatrader 4 Forex Platform

 

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Explanations of Each Tool

The following is the explanation of each tool on this toolbar.

Explanation of All Tools on the Metatrader 4 Platform Lines Toolbar

 

1: Select mouse as cursor, change mouse to the default cursor

 

2: Select Cross Hair cursor, a type of cursor that maps coordinates to the axis of the charts

 

3: Draw a vertical line

 

4: Draw a Horizontal line

 

5: Draw a trend line

 

6: Equidistant Channel

 

7: Fibonacci Retracement

 

8: Text button

 

9: Text Label Button

 

10: Fibonacci Expansion

 

11: Trend by Angle

 

12: Linear Regression Channel

 

13:Standard Deviation Channel

 

14: Gann Lines

 

15: Gann Fan

 

16: Gann Grid

 

17: Fibonacci Timezones

 

18: Fibonacci Fan

 

19: Fibonacci Arc

 

20: Cycle Lines

 

21: Andrew's Pitchfork

 

22: Insert Ellipse

 

23: Insert Triangle

 

24: Insert Rectangle

 

25: Fibonacci Channels

 

26: Draw Arrows

 

How To Remove Tools

As a trader you will not require all these buttons and you can hide some of them by clicking the customize button, then select some of the items on the right window and then select hide.

How to Remove a Tool From The Lines Toolbar on Metatrader 4 Platform

 

Remove the above tools by clicking on them and then clicking the remove button, so as to save space on your MetaTrader 4 platform workspace.

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