Insert Shapes on Charts on the MT4 Platform

To place shapes on the MT4 trading platform, a trader can use Insert Menu & use insert shapes button key that is illustrated below.

Insert Shapes in MetaTrader 4

The options of which shapes that can be plotted in MetaTrader 4 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Chart

To draw a rectangle in MetaTrader 4 charts, a trader will select the rectangle button & then choose between which points on a Gold chart to draw this rectangle. To adjust a triangle that has already been plotted, a trader can also double click anywhere on this shape & 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 MT4 Charts

Rectangle shape is used to plot a consolidation range pattern where price break out to one side will mean price move will continue in that direction, as illustrated above, when the 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 xauusd chart, choose 3 points, point 1, 2 and 3 after which the triangle is drawn within these three selected chart points. To adjust the triangle, just doubleclick this triangle, then select the square buttons appearing on the edges as illustrated below and adjust the triangle points.

Drawing Triangle on Charts in MT4

Draw Ellipse

To plot the ellipse shape, follow the steps discussed below:

1. Choose the Ellipse button as shown above
2. On the chart select 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 & drag this square & the ellipse will be adjusted as illustrated below.

Drawing Ellipse Shape on MT4 Charts on MT4