Line Studies Tool-Bar Menu in MT5
Sometimes traders will claim "oh, I can not find Fib extension tool on my MT5 where can I get it?"
The thing is that all these line studies are located on the line studies tool bar: however, by default not all are set to display, hence a trader must know where to get these trading tools that are not shown by default on the MT5 Software. So how can a gold trader add a tool, to the line studies MT5 tool bar shown below?
Customize a Tool Bar on Software
To add a tool not listed above one has to follow these steps
- Right Click at the MetaTrader 5 tool bar button key to the left of this (Looks like a stack of coins) as displayed below
3. Press customize 4. Add all Tools
The following customize popup panel will appear:
Choose all the tools from the left window and add them: After adding this will look like:
The MT5 tool bar will now look like:
Explanation of Every Tool
The following is the explanation of each tool on this tool-bar.
1: Choose mouse as cursor, change mouse to default cursor
2: Choose Cross Hair cursor, a type of cursor that maps coordinates to the axis of the trading charts
3: Draw a vertical line
4: Draw a Horizontal line
5: Draw a trend line
6: Equidistant Channel
7: Fibonacci Retracement
8: Text button
9: Text Label Button
10: Fibonacci Expansion
11: trend by Angle
12: Linear Regression Channel
13:Standard Deviations Channel
14: Gann Lines
15: Gann Fan
16: Gann Grid
17: Fib Time zones
18: Fibonacci Fan
19: Fibo Arc
20: Cycle Lines
21: Andrew's Pitchfork
22: Insert Ellipse
23: Insert Triangle
24: Insert Rectangle
25: Fibonacci Channels
26: Draw Arrows
How to Remove Tools from Gold Software
As a trader you will not require all these button keys and you can hide some of them by clicking the customize button, then select some of the items on the right panel window and then select hide.
Remove the above tools by clicking on them and then pressing the remove button, so as to save space on your MT5 Platform Software workspace.
More Lessons and Courses:
- What is the Gold Margin Requirement for 1:25 Gold Leverage?
- How to Place William Percentage R Indicator on Gold Chart
- How Do You Learn How to Set a Stop Loss Order on MT5 Platform?
- How Do You Trade a XAUUSD Pull Back?
- Moving Averages Crossover Method Gold Analysis
- Ehlers Relative Vigor Index, RVI XAU/USD Indicator Technical Analysis
- How to Read XAU/USD Sell Limit Order
- Bollinger Bands Gold Price Action on Upwards Gold Trend & Downwards Gold Trend
- What are Gold Chart Patterns?
- Continuation Chart Patterns in Gold
