Insert Shapes on CFDs Charts in MT5 Platform
To place shapes on the MT5 cfds trading software, a trader can use the Insert Menu and use the insert shapes button key that is shown and illustrated below.
Insert Shapes on MetaTrader 5
The options of which shapes that can be plotted on the MT5 software are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on CFDs Trading Chart
To draw a rectangle on mMT5 cfd charts, a trader will select the rectangle button and then choose between which points on a CFD chart to draw this rectangle. To adjust a triangle that has already been drawn, a trader can also double click anywhere on this shape and then select the square MT5 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.
Drawing Rectangle Shape in MetaTrader 5 CFD Charts
Rectangle shape is used to plot a consolidation range pattern where cfd price breakout to one side will mean cfd price movement will continue in that direction, as shown above, when the price breaks out upward it continues to move in that direction.
Draw Triangle
To draw a triangle, a trader can select the triangle button and then on the MT5 cfds chart, select 3 points, point 1, 2 and 3 after which the triangle is drawn within these three selected chart points. To adjust the triangle, just double click this triangle, then select the square MT5 buttons appearing on the edges as shown below and adjust the triangle points.
Drawing Triangle on CFDs Charts on MetaTrader 5 Platform
Draw Ellipse
To plot the ellipse shape, follow the guide-lines below:
- Select the Ellipse button as displayed above
- On the chart choose point 1 and drag the mouse to point 2, (the ellipse will appear as a line)
- Double-click the ellipse using the small squares at the middle, click, hold and drag this square & the ellipse will be adjusted as displayed below.
Drawing Ellipse Shape in MetaTrader 5 CFDs Charts in MetaTrader 5
