Trade Stock Indices

Learn Stock Indices Trading

Inserting Line Studies Tools on the MT4 Indices Trading Platform

The next option on the Insert menu within the MT4 indices trading platform is the Line Studies Button. These tools are used to insert and draw indices trend lines or to place various technical analysis tools on Indices charts. This button is shown below:

Line Studies

Line Studies on MT4


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


  1. Vertical Line

  2. Horizontal Line

  3. Indices Trend Line

  4. Indices Trend by Angle

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


Vertical Line

This is placed on a Indices chart when a indices trader wants to mark a specific point in a stock indexes trading chart, maybe to mark the time they bought indices or sold indices. To insert this vertical line on a Stock Indexes chart, a indices trader will open the insert menu, as shown above, then click on the “Vertical Line” option - to select this, the cursor will also change to show vertical line icon, then select the point on the Indices chart where you want to draw this line.

Insert Vertical Line on MetaTrader Indices Trading Chart Insert Menu

Insert a Vertical To a Indices Trading Chart on MetaTrader 4


Horizontal Line

On the MT4 Indices trade platform, this line is placed on a Indices chart so as to mark a resistance level or a support level on the stock indexes trading chart. The horizontal line can be drawn by selecting its button within the insert menu and then clicking on the level where you want to place it.

Insert Horizontal Line on MetaTrader Indices Trading Chart Insert Menu

Drawing a Horizontal Line on MT4


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


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Indices Trend Line

This is one of the most commonly used technical analysis tool in indices trading. To draw this indices trend line a Indices trader can access this button from the insert menu. An upward indices trend line on MT4 stock indexes trading platform is shown below.

How to Insert a Indices Trend Line on the MT4 stock indexes trading platform Insert Menu

Indices Trend Line Drawn on MetaTrader 4


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


A indices trader can draw this indices trend line for either an upward indices trend direction or downward indices trend direction


Indices Trend Line by Angle

The next option is to draw a indices trend by angle, this one looks exactly like the ordinary indices trend line shown above, only that in addition it will show the angle at which the indices 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 indices trader you may want to change the formatting of a specific item for example let use the “Indices 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.

Edit Indices Trend Line Properties on MT4 Stock Indexes Charts

Changing


Common Properties

After the above menu appears (Note the indices 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 “Indices Trend line Properties”, the following popup window will appear.

Indices Trend Line Editing Window for Editing Trendline Properties


From this menu a indices trader can rename the indices 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 buttons next to the color button, and then select okay.


The other options are marked “Parameters” and “Visualization”



Parameters

On the parameter, tick/untick the option marked as “Ray”, this will extend/unextend the indices trend line up to the point where you have selected. Download the MetaTrader to learn what this we are talking about.

Edit Indicator Parameters MT4 Edit Line Studies


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 indices trader can choose and select from this option as shown below.

Indices Trading Chart Timeframes Visualization Settings For Indicators MT4

Customizing Tools MT4 Studies


 

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