Inserting Line Studies Tools on the MT5 Platform

The next option on the Insert menu within the MT5 energies software is the Line Studies Button. These tools are used to insert and draw energies trend lines or to place various energies analysis tools on charts. This button is instanced below:

Line Studies in MT5 Platform

The button key can be used to insert the following on the charts:

1. Vertical Line
2. Horizontal Line
3. energies trend Line
4. energies trend by Angle

A trader may need to draw any of these line studies on charts for different purposes: each line study will be placed on the chart depending on the type of analysis that a trader want to achieve.

Vertical Line

This is placed on a chart when a trader wants to mark a particular point in a chart, maybe to mark the time they bought energies instrument or sold energies. To insert this vertical line on a chart, a trader will open insert menu, as shown above, then click on the 'Vertical Line' option - to select this, cursor will also change to explain vertical line icon, then select point on chart where you want to draw this line.

Insert a Vertical To a Chart on MetaTrader 5 Platform

Horizontal Line

On MT5 trade platform, this line is placed on a chart so as to mark a resistance level or a support level on the chart. The horizontal line can be drawn by selecting its button key within insert menu & clicking on level where you want to place it.

Drawing a Horizontal Line in MT5 Platform

On the example above this horizontal line is drawn at price support point, the price bounces up the second time that it gets to this point. The trend then changes to upwards energies trend direction.

energies trend Line

This is one of the most commonly used analysis tool in energies. To draw this energies trend line a trader can access this button from the insert menu. An upward trend line in MT5 platform is shown below.

energies trend Line Drawn on MT5 Platform

To draw a trend line a trader has to have two points and join these points with the trend line & then extend it as shown above.

One can draw this energies trend line for either an upward trend direction or downward trend direction

energies trend Line by Angle

The next option is to draw a trend by angle, this one looks exactly like the ordinary trendline displayed above, only that in addition it'll show the angle at which the trend line is slanting which many trades may use as a signal and specify to only trade if the angle is more than 30 degrees.

Customizing

As a trader you may want to change the formatting of a particular item for example let use the " energies trend Line" study, if you want to edit its properties then you can select it by double clicking on it, then right click on it and the following menu will show.

Changing

Common Properties

After the above menu appears (Note the trend line has three square points that you can click and drag with your mouse to adjust it to another point using these three squares), select the first option only " energies trend line Properties", the following popup window will appear.

From this menu a trader can rename the trend line, give it a description, change the style color to another color using the down arrow next to the color named "Blue" above or change the width property by selecting a different style from the 2 drop down arrow MT5 buttons next to the color button, and then choose okay.

The other options are marked "Parameters" & "Visualization"

Parameters

On the parameter, tick/untick the option marked as "Ray", this will extend/unextend the trendline up to the point where you have selected. Download the MetaTrader software to learn what this we are talking about.

Visualization

Visualization is used to select whether the line is shown on all time frames or only shown on a select few time frames that a trader can choose and select from This MT5 option as shown below.

Customizing Tools MT5 Studies