Insert Shapes on Stock Charts in Meta Trader 5 Trading Software

To place shapes on the MT5 trading software, a trader can use the Insert Menu & use the insert shapes button key that is shown below.

Insert Shapes on Meta Trader 5

Options of which shapes that can be plotted on the MT5 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Stock Chart

To draw a rectangle on mMT5 charts, a trader will select the rectangle button & then choose between which points on a chart to draw this rectangle. To adjust a triangle that has already been plotted, a trader can also double click anywhere on this shape and then select the square MT5 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Drawing Rectangle Shape in MetaTrader 5 Charts

Rectangle shape is used to draw a consolidation range pattern where stocks price break out to one side will mean price movement will continue in that direction, as shown above, when the price breaks-out up-ward it continues to move in that particular direction.

Draw Triangle

To draw a triangle, a trader can select the triangle button and then on the MT5 chart, select 3 points, point 1, two & 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 MT5 buttons appearing on the edges as shown below and adjust the triangle points.

Drawing Triangle on Stock Charts on MetaTrader 5 Platform

Draw Ellipse

To draw the ellipse shape, follow the steps highlighted below:

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

Drawing Ellipse Shape in MetaTrader 5 Charts in Meta Trader 5