Insert Shapes on Gold Charts in MT5 Platform
To place shapes on the MT5 xauusd trading software, a trader can use Insert Menu and use insert shapes button key that is illustrated & shown below.
Insert Shapes on MetaTrader 5
The options of which shapes that can be plotted on the MT5 platform are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on Gold Trading Chart
To draw a rectangle on mMT5 xauusd charts, a trader will choose the rectangle button and then choose between which points on a XAUUSD 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 MT5 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 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 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 MT5 buttons appearing on the edges as shown below and adjust the triangle points.
Drawing Triangle on Gold Charts in MetaTrader 5
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 & 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 & drag this square and the ellipse will be adjusted as displayed below.
Drawing Ellipse Shape in MT5 Gold Charts in MetaTrader 5
