How to Draw MetaTrader 4 Channel Indicator

An upward channel is plotted by drawing a line that's parallel to the upwards trend line and then adjusted to touch the tops boundary of the price movement. This then forms a channel & as long as the price stays between these two channels the bullish market trend movement will continue moving upward - bullish trend.

How to Draw MT4 Up Trend Channel Indicator - Upwards Channel Indicator MT4 Indicator

How to Draw MT4 Up Trend Channel Indicator - Analysis of Up-ward Channel Indicator MT4

Analysis of Upward Channel Indicator MT4 - This MT4 up trend channel is used by online traders to show areas where it's best to book profits. Traders will take some profit once the price touches upper channel & wait for another retracement before opening a buy gold trading again.

Meta Trader 4 Channel Tools for Drawing Upward Gold Channel

The tools to plot these a upwards channel in the MT4 platform, Meta Trader 4 are located on the MT4 chart drawing indicators toolbar within the MT4, To get this chart indicator tool bar if it isn't activated on your MT4 software, Click in 'View' Next to the 'File' menu at top left corner of Meta Trader 4 & click View, Then Click on Tool-Bars, Then Check the 'Lines ToolBar' by clicking on it.

Below is example of MetaTrader 4 Channel Indicator Drawing Tool on MT4 Charts Tool Bar. To draw a channel on chart click on this Meta Trader 4 Channel tool & choose the point where you want to plot the upward channel on the chart.

Meta Trader 4 Channel Drawing Indicator

MT4 Channel Tools for Drawing Upward Channel