Trade Forex Trading

Learn Gold Trading for Beginners Tutorials

Insert Shapes on Gold Charts on the MT4 XAUUSD Platform

To place shapes on the MetaTrader 4 xauusd trading platform, a XAUUSD trader can use the Insert Menu and use the insert shapes button that is shown below.

Insert Shapes on Gold Charts on the MetaTrader 4 Gold Trading Platform Software - Insert Shapes on Gold Charts on MetaTrader 4 XAUUSD Trading Charts - How to Insert Shapes on MT4 Gold Charts

Insert Shapes on MetaTrader 4 XAUUSD Trading Platform


The options of which shapes that can be drawn on the MetaTrader 4 gold trading platform are:



  1. Rectangle
  2. Triangle
  3. Ellipse


Draw Rectangle

To draw a rectangle on mMT4 xauusd charts, a xauusd trader will select the rectangle button and then select between which points on a XAUUSD Trading chart to draw this rectangle. To adjust a triangle that has already been drawn, a XAUUSD trader can also double click anywhere on this shape and then select the square buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Draw Rectangle Shape on a Chart in MetaTrader 4 XAUUSD Trading Platform - Insert Shapes on Gold Charts on MT4 XAUUSD Trading Charts - How to Insert Shapes on MT4 Gold Charts

Drawing Rectangle Shape on MetaTrader 4 XAUUSD Charts


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



Draw Triangle

To draw a triangle, a XAUUSD trader can select the triangle button and then on the MetaTrader 4 gold 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 buttons appearing on the edges as shown below and adjust the triangle points.

Draw Triangle Shape on XAUUSD Chart on MetaTrader 4 XAUUSD Trading Platform - Insert Shapes on Gold Charts on MetaTrader 4 XAUUSD Trading Charts - How to Insert Shapes on MetaTrader 4 Gold Charts

Drawing Triangle on Gold Charts in MetaTrader 4 XAUUSD Platform



Draw Ellipse

To draw the ellipse shape, follow the steps below:



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


Draw Ellipse Shape on XAUUSD Chart on MT4 XAUUSD Trading Platform - Insert Shapes on Gold Charts on MT4 XAUUSD Trading Charts - How to Insert Shapes on MT4 Gold Charts

Drawing Ellipse Shape on MT4 Gold Charts on MetaTrader 4 XAUUSD Trading Platform


 

Metals Trading Symbols

Precious Metal Symbols:
Gold - XAU USD and XAU EUR, Silver - XAG USD and XAG EUR, Platinum - XPT USD, Palladium - XPD USD

Metal Symbols:
Copper - XCU USD, Zinc - XZN USD, Lead - XPB USD, Nickel - XNI USD, Aluminium - XAL USD