Insert Shapes on Charts on the MetaTrader 4 Platform

To set shapes on the MT4 platform, a gold trader can use Insert Menu & use insert shapes button key that is illustrated & shown below.

Insert Shapes in MT4 Platform Software

The options of which shapes that can be drawn on the MT4 software are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Chart

To draw a rectangle on mMetaTrader 4 charts, a trader will choose the rectangle button key and then choose between which points on a Gold chart to draw this rectangle. To modify and adjust a triangle that has already been plotted, a trader can also doubleclick anywhere on this shape & then choose the square buttons which appear at all the corners of this rectangle & drag them to adjust this rectangle.

Drawing Rectangle Shape on MT4 Charts

Rectangle shape is used to draw a consolidation range pattern where price breakout to one side will mean price move will continue in that direction, such as illustrated above, when the price breaks out upwards it continues to move in that particular direction.

Draw Triangle

To draw a triangle, one can choose the triangle button and then on the MT4 chart, select 3 points, point 1, two & 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 buttons appearing at the edges as is shown below and adjust the triangle points.

Drawing Triangle on Charts in the MT4

Draw Ellipse

To draw the ellipse shape, follow the rules below:

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

Drawing Ellipse Shape on MT4 Charts in the MT4 Platform

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