Insert Shapes on Stock Index Charts on the MetaTrader 4 Stock Indices Platform
To place shapes on the MetaTrader 4 stock index trading platform, a Stock Indices trader can use the Insert Menu and use the insert shapes button that is shown below.
Insert Shapes on MetaTrader 4
The options of which shapes that can be drawn on the MetaTrader 4 stock index trading platform are:
To draw a rectangle on mMT4 stock indices charts, a stock indices trader will select the rectangle button and then select between which points on a Stock Indices Trading chart to draw this rectangle. To adjust a triangle that has already been drawn, a Stock Indices 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.
Drawing Rectangle Shape on MetaTrader 4 Stock Indices Charts
The rectangle shape is used to draw a consolidation range pattern where stock index price breakout to one side will mean stock index price movement will continue in that direction, as shown above, when the stock index price breaks out upwards it continues to move in that direction.
To draw a triangle, a Stock Indices trader can select the triangle button and then on the MT4 stock index 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.
Drawing Triangle on Stock Index Charts in MetaTrader 4 Stock Indices Platform
To draw the ellipse shape, follow the steps below:
- Select the Ellipse button as shown above
- On the chart select point 1 and 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 and drag this square and the ellipse will be adjusted as shown below.
Drawing Ellipse Shape on MetaTrader 4 Stock Index Charts on MT4