Insert Shapes on Charts on the MetaTrader 4 Trading Platform

To place shapes on the MT4 platform, a trader can use the Insert Menu and use the insert shapes button that is shown below.

Insert Shapes on MetaTrader 4 Trading Platform

Options of which shapes that can be plotted on the MT4 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Trading Chart

To draw a rectangle on mMT4 charts, a trader will select the rectangle button & then choose between which points on a Commodity 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 Trading Charts

The rectangle shape is used to draw a consolidation range pattern where price breakout to one side will mean price movement will continue in that direction, as shown above, when the price breaks out upwards 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 chart, select 3 points, point 1, 2 and Three after which the triangle is drawn within these 3 chooseed chart points. To adjust the triangle, just doubleclick this triangle, then select the square buttons appearing on the edges as shown below and adjust the triangle points.

Drawing Triangle on Charts on MT4 Platform

Draw Ellipse

To plot the ellipse shape, follow the procedure below:

1. Select the Ellipse button as displayed above
2. On the chart choose point 1 and drag the mouse to point 2, (the ellipse will then 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 4 Trading Charts in MetaTrader 4 Trading Platform