Insert Shapes on CFDs Charts on the MT4 Platform
To place shapes on the MT4 cfd platform, a trader can use the Insert Menu and use the insert shapes button that is shown below.
Insert Shapes in MetaTrader 4 Platform
Options of which shapes that can be plotted on the MT4 platform are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on CFDs Chart
To draw a rectangle on mMT4 cfd charts, a trader will select the rectangle button key & then select between which points on a CFD 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 MetaTrader 4 CFD Charts
The rectangle shape is used to draw a consolidation range pattern where cfds price break out to one side will mean cfds price movement will continue in that direction, as shown above, when the cfds 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 cfds 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 CFDs Charts in MetaTrader 4 Platform
Draw Ellipse
To plot the ellipse shape, follow the guide lines 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)
- Doubleclick the ellipse using the small squares at the middle, click, hold and drag this square & the ellipse will be adjusted as displayed below.
Drawing Ellipse Shape on MT4 CFDs Charts on MetaTrader 4 Platform
