Insert Shapes on Stock Charts on the MT4 Platform
To place shapes on the MT4 stock trading software, a trader can use the Insert Menu & use the insert shapes button key that is shown below.
Insert Shapes on MetaTrader 4
Options of which shapes that can be drawn on the MT4 platform are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on Stocks Trading Chart
To draw a rectangle on mMT4 stocks charts, a trader will choose the rectangle button key & then select between which points on a Stocks Trading 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 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.
Drawing Rectangle Shape in MT4 Stocks Charts
Rectangle shape is used to plot a consolidation range pattern where stocks price break out to one side will mean stocks 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 MT4 stock 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 Charts on MT4 Platform
Draw Ellipse
To plot the ellipse shape, follow steps below:
- Select the Ellipse button as shown above
- On the chart select point 1 & drag the mouse to point 2, (the ellipse will appear as a line)
- Doubleclick 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 MT4 Stock Charts in MetaTrader 4
