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Insert Shapes on Charts in the MT4 Platform

To place and set shapes on the MT4 platform, a fx trader can use the Insert Menu & use the insert shapes button key that is displayed and illustrated below.

Insert Shapes on Charts on the MetaTrader Forex Platform - Insert Shapes on Charts in MetaTrader 4

Insert Shapes on Forex Software MT4

Options of which shapes that can be drawn on the MT4 platform software are:

  1. Rectangle
  2. Triangle
  3. Ellipse

Draw Rectangle on FX Trading Chart

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

Draw Rectangle Shape on a Chart in the MT4 Software - Insert Shapes on Charts in MetaTrader 4 Platform - Insert Shapes on MT4 Charts

Drawing Rectangle Shape in MetaTrader 4 Charts

Rectangle shape is used to plot a consolidation range setup where price breakout to one side will mean price movement will continue in that direction, as is illustrated above, when price breaks out upward it continues to move in that particular direction.

Draw Triangle

To draw a triangle, a trader can choose the triangle button & then on the MT4 chart, select 3 points, point 1, 2 & 3 after which the triangle is plotted within these three selected chart points. To adjust the triangle, just double-click this triangle, then select the square buttons appearing at the edges just as shown below and adjust the triangle points.

Draw Triangle Shape on Chart on the MetaTrader 4 - Insert Shapes on MetaTrader 4 Charts

Drawing Triangle on Charts on MT4

Draw Ellipse

To draw the ellipse shape, follow the guidelines/rules below:

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

Draw Ellipse Shape on Chart in MetaTrader 4 Platform - How Do I Draw Shapes on MT4 Trading Charts?

Drawing Ellipse Shape in MT4 Charts in the MT4 Software

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