Line Studies Toolbar Menu on MetaTrader 4
Sometimes traders will say "oh, I cannot find Fibonacci expansion tool on my MetaTrader 4 where can I get it?"
The thing is that all these line studies are located on the line studies toolbar; however, by default not all are set to display, therefore a trader must know where to get these tools that are not displayed by default on the MetaTrader 4 Software. So how can a trader add a tool, to the line studies toolbar shown below?
Customize a Toolbar on Forex Trading Platform
To add a tool not listed above a trader has to follow the following steps
- Right Click at the toolbar button to the left of this(Looks like a stack of coins)as shown below
3. Click customize 4. Add all Tools
The following customize popup window will appear:
Select all the tools from the left window and add them: After adding this will look like:
The toolbar will now look like:
Explanations of Each Tool
The following is the explanation of each tool on this toolbar.
1: Select mouse as cursor, change mouse to the default cursor
2: Select Cross Hair cursor, a type of cursor that maps coordinates to the axis of the charts
3: Draw a vertical line
4: Draw a Horizontal line
5: Draw a trend line
6: Equidistant Channel
7: Fibonacci Retracement
8: Text button
9: Text Label Button
10: Fibonacci Expansion
11: Trend by Angle
12: Linear Regression Channel
13:Standard Deviation Channel
14: Gann Lines
15: Gann Fan
16: Gann Grid
17: Fibonacci Timezones
18: Fibonacci Fan
19: Fibonacci Arc
20: Cycle Lines
21: Andrew's Pitchfork
22: Insert Ellipse
23: Insert Triangle
24: Insert Rectangle
25: Fibonacci Channels
26: Draw Arrows
How to Remove Tools from Forex Trading Software
As a trader you will not require all these buttons and you can hide some of them by clicking the customize button, then select some of the items on the right window and then select hide.
Remove the above tools by clicking on them and then clicking the remove button, so as to save space on your MetaTrader 4 platform workspace.
