Insert Shapes on Charts on the MetaTrader 4 Software Platform

To place shapes on the MetaTrader 4 platform platform, a stock index trader can use Insert Menu and use insert shapes button key that is illustrated & shown below.

Insert Shapes on MT4 Platform

Options of which shapes that can be drawn in MT4 software are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on a Chart

To draw a rectangle on MT4 charts, a trader will select the rectangle button and then choose between which points on a chart to draw this rectangle. To modify and adjust a triangle that has already been drawn, a trader can also doubleclick anywhere on this shape & then select the square buttons that appear at all the corners of this rectangle & drag them to adjust this rectangle.

Drawing Rectangle Shape on MetaTrader 4 Charts

Rectangle shape is used to draw a consolidation range pattern where stock trading price breakout to one side will mean stock price movement will continue heading and going in that direction, like illustrated above, when the stock price breaks out upwards it continues to move in that particular direction.

Draw Triangle

To draw a triangle, a trader can select & choose the triangle button & then on the MT4 chart, select 3 points, point 1, two & 3 after which the triangle is plotted within these three selected chart points. To adjust the triangle, just double click this triangle, then choose & select the square buttons appearing at the edges like as shown below and adjust the triangle points.

Drawing Triangle on Charts in the MT4 Platform

Draw Ellipse

To draw the ellipse shape, follow the method below:

1. Choose/Select the Ellipse button like displayed above
2. On the chart select and choose point 1 & drag the mouse to point 2, (the ellipse will be shown as a line)
3. Double Click the ellipse using the small squares at the middle, click, hold and drag this square & the ellipse will be adjusted as is displayed below.

Drawing Ellipse Shape on MT4 Charts in the MT4 Platform

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