Trade Forex Trading

Learn Gold Trading for Beginners Tutorials

Insert Andrews Pitchfork, Cycle Lines, Text and Text Label

The last 4 options on the MetaTrader 4 xauusd trading platform insert menu are:



  1. Andrews Pitchfork
  2. Cycle Lines
  3. Text
  4. Text Label


These are shown below:

Insert Andrews Pitchfork, Gold Chart Cycle Lines, Gold Trading Chart Text and Text Label on MT4 Gold Platform - Insert Cycle Lines, Gold Chart Text Label on Gold Charts on MetaTrader 4 Gold Trading Platform - Insert Menu Options in MetaTrader 4 Gold Trading Platform - MT4 Online Gold Platform

Insert Menu Options on MetaTrader 4 XAUUSD Trading Platform


Andrews Pitchfork

The Andrews Pitchfork is drawn between three points first point is the middle point of gold price, the next is the upper point of gold price and the third is the lower point of gold price. This draws three parallel lines that form a channel. XAUUSD Price should xauusd trend within this channel, if gold price moves outside of this channel like in the xauusd example shown below the trade should be closed.

Andrews Pitchfork on XAUUSD Chart in MetaTrader 4 XAUUSD Trading Platform - Insert Cycle Lines, Gold Chart Text Label on Gold Charts on MetaTrader 4 XAUUSD Trading Platform - Insert Menu Options in MetaTrader 4 XAUUSD Trading Platform - MT4 Online Gold Platform

Andrews Pitchfork on MetaTrader 4 XAUUSD Trading Platform



Cycle Lines

Cycle lines are vertical lines drawn at an equal distance representing market cycles. To draw these lines a xauusd trader selects one continuous xauusd trend and draws a line between the high and low of the xauusd trend and then this MT4 xauusd indicator automatically plots the cycle line, these lines represent market cycles.

Draw Cycle Lines on XAUUSD Chart in MetaTrader 4 XAUUSD Trading Platform - Insert Cycle Lines, Gold Chart Text Label on Gold Charts on MT4 XAUUSD Trading Platform - Insert Menu Options in MetaTrader 4 Gold Trading Platform - MT4 Online Gold Platform

Cycle Lines MT4 XAUUSD Indicator



Text and Text Label

As a xauusd trader you may want to mark a xauusd price level on your gold trading chart. To do this you can use either the text or text labels, Select any of this button, select where to place these labels after which a popup appears prompting you to input the text of the label. To edit the text label double click on it and then this popup will appear again and edits can be made on this window.

Place Text and Text Label on XAUUSD Chart in MetaTrader 4 XAUUSD Trading Platform - Insert Cycle Lines, Gold Chart Text Label on Gold Charts on MT4 XAUUSD Trading Platform - Insert Menu Options in MetaTrader 4 Gold Trading Platform - MetaTrader 4 Online Gold Platform

Text and Text Labels on MT4 XAUUSD Trading Platform


From the above example the buy is a text and the sell is a text label, both are not much different only that the text will move with the chart, while the text label is fixed at one point and will not move with the chart.

 

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