How to Draw MetaTrader 4 Channel Indicator

A downward gold channel is drawn by drawing a line that is parallel to the downward gold trend line and then adjusting it to touch the bottom boundary of the xauusd price movement. This then forms a gold channel and as long as the xauusd price stays between these two channels the general gold market trend direction is intact - the xauusd market direction will continue being bearish - bearish xauusd trend.

How to Draw MetaTrader 4 Down Gold Trend Channel Indicator - Downward Channel Indicator MetaTrader 4 XAUUSD Indicator

How to Draw MetaTrader 4 Channel Indicator - Technical Analysis of Downward Channel Indicator MetaTrader 4

Technical Analysis of Downward Channel Indicator MetaTrader 4 - The downward gold trend channel is used by online xauusd traders to show levels where it best to take profits. Traders will take some profit once the xauusd price touches the lower channel or the lower channel and wait for another retracement before opening a sell gold trade again.

MT4 Channel Indicator Tools for Drawing Downward XAUUSD Channel

MetaTrader 4 Gold Trend Indicators - the tools to draw these a gold downwards channel on the MT4 platform, MetaTrader 4 platform are located on the MT4 gold chart drawing indicators toolbar within the MT4 platform, To access this MetaTrader 4 gold chart indicator toolbar if it is not activated on your MetaTrader 4 platform, Click in "View" Next to "File" at the top left corner of the MetaTrader 4 platform and click View, Then Click on Tool bars, Then Check the "Lines Toolbar" by clicking on it.

Below is the example of MetaTrader 4 Channel Indicator Drawing Tool on MetaTrader 4 Charts Tool Bar. To draw a gold channel on a gold chart just click on this MetaTrader 4 Channel Indicator gold trading tool and select the point where you want to draw the downward gold channel on the xauusd chart.

MT4 Channel Indicator Tools for Drawing Downward Gold Channel