Line Studies Tool-Bar Menu on MT4
Sometimes traders will claim "oh, I can't find Fib extension tool on my MetaTrader 4 where can I get it?"
The thing is that all these line studies are located on the line studies toolbar: however, by default not all are set to display, therefore a indices trader must know where to get these tools that are not shown by default on the MetaTrader 4 Stock Software. So how can a stock index trader add a tool, to the line studies toolbar illustrated below?
Customize a Toolbar on Stock Indices Software
To add a tool not listed above a stock indices trader has to follow the steps below
- Right Click at the toolbar button to the left of this(Looks like a stack of coins)as displayed below
3. Press customize 4. Add all Tools
Following customize panel popup will appear:
Choose all the tools from the left window panel and add them: After adding this will look like:
The toolbar will now look like:
Explanation of Each Tool
The following is the explanation of each tool on this tool-bar.
1: Choose mouse as cursor, change mouse pointer to the default cursor
2: Select Cross-Hair cursor, a type of cursor that maps coordinates to the axis of the charts
3: Draw a vertical line
4: Draw a Horizontal line
5: Draw a trend line
6: Equidistant Channel
7: Fib Retracement
8: Text button
9: Text Label Button
10: Fibo Expansion
11: Trend by Angle
12: Linear Regression Channel
13:Standard Deviation Channel
14: Gann Lines
15: Gann Fan
16: Gann Grid
17: Fibonacci 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 Trading Platform
As a trader you'll not require all these button keys & you can hide some of them by clicking on customize button, then choose some of the items on right window and then choose hide.
Remove the above tools by clicking on them and then pressing remove button, to save space on your MT4 software workspace.
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