Insert Shapes on Charts on the MetaTrader 4 Software Platform

To insert shapes in MetaTrader 4, a stock index trader can go to the Insert Menu and choose the insert shapes button, which is demonstrated and displayed in the steps 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 add a rectangle on MT4 charts, pick the rectangle tool. Then click two points on the chart to form it. To change a drawn rectangle, double-click the shape. Small squares show up at the corners. Drag those to resize it.

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 the triangle icon and then, on the MT4 chart, click on precisely three points: point 1, point 2, and point 3, after which the triangle is plotted and rendered across these three selected points on the chart. To adjust the drawn triangle, simply double-click it, then select the small square handles that appear at the vertices, as demonstrated below, to modify the triangle's 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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