Trade Bitcoin Trading

Insert Shapes on BTCUSD Charts on the MT5 Platform

To place shapes on the MT5 bitcoin crypto trading platform, a btc usd trader can use the Insert Menu and use the insert shapes button that's shown below.

Insert Shapes on BTCUSD Charts on the MetaTrader Bitcoin Software

Insert Shapes in MT5 Platform Software

Options of which shapes that can be plotted on the MetaTrader 5 platform software are:

  1. Rectangle
  2. Triangle
  3. Ellipse

Draw Rectangle on BTCUSD Chart

To draw a rectangle on MT5 charts, a trader will choose the rectangle button key & then select between which points on a Bitcoin Trading chart to draw this rectangle. To adjust and modify a triangle that has already been plotted, a trader can also double click anywhere on this shape & then choose and select the square MT5 buttons that appear at all the corners of this rectangle & drag them to adjust this rectangle.

Draw Rectangle Shape on a Chart in the MetaTrader 5 - Learn How Do I Analyze Bitcoin Charts?

Drawing Rectangle Shape on MT5 Bitcoin Charts

The rectangle shape is used to draw a consolidation range pattern where bitcoin price break out to one side will mean bitcoin price movement will continue moving in that direction, like is shown above, when the bitcoin price breaks out upwards it continues to move in that particular direction.

Draw Triangle

To draw a triangle, a trader can select & choose the triangle button & then on the MT5 btcusd chart, select 3 points, point 1, two and 3 after which the triangle is drawn within these three selected chart points. To adjust the triangle, just double-click this triangle, then choose and select the square MT5 buttons appearing at the edges just as shown below and adjust the triangle points.

Draw Triangle Shape on Crypto Currency Chart in MT5 - Insert Shapes in MT5 BTCUSD Charts

Drawing Triangle on Crypto Currency Charts on the MT5

Draw Ellipse

To draw the ellipse shape, follow guide below:

  1. Select/Choose the Ellipse button just as is shown above
  2. On the chart choose point 1 & drag the mouse to point 2, (the ellipse will then appear and be shown as a line)
  3. Double click the ellipse tool using the small squares at the middle, click, hold and drag this square & the ellipse will be adjusted like shown below.

Draw Ellipse Shape on Crypto Currency Chart in MT5 Platform - Insert Shapes in MetaTrader 5 Charts

Drawing Ellipse Shape on MT5 Charts in the MT5

Learn More Lessons & Courses:

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