Insert Shapes on Stocks Charts on the MetaTrader 4 Platform
To place shapes on the MT4 stock platform, a trader can use the Insert Menu and use the insert shapes button that is shown below.
Insert Shapes on MT4 Platform
Options of which shapes that can be plotted on the MT4 platform are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on Stock Trading Chart
To draw a rectangle on MT4 stock charts, a trader will choose the rectangle button and then choose between which points on a Stock 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 on MT4 Stock Charts
Rectangle shape is used to plot a consolidation range pattern where stocks price breakout to one side will mean stocks price movement will continue in that direction, as shown above, when the stocks 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 stocks chart, select 3 points, point 1, 2 and 3 after which the triangle is drawn within these three selected chart points. To adjust the triangle, just double click this triangle, then select the square buttons appearing on the edges as shown below and adjust the triangle points.
Drawing Triangle on Stocks Charts on MT4 Platform
Draw Ellipse
To draw the ellipse shape, follow the guide-lines below:
- Select the Ellipse button as displayed above
- On the chart choose point 1 & drag the mouse to point 2, (the ellipse will appear as a line)
- Double-click the ellipse using the small squares at the middle, click, hold & drag this square and the ellipse will be adjusted as displayed below.
Drawing Ellipse Shape on MT4 Stocks Charts in MT4 Platform
