Inserting Line Studies Tools on the MT5 Platform

The next option on the Insert menu within the MT5 indices trading platform is the Line Studies Button. These tools are used to insert and draw indices trend lines or to place various stock indices technical analysis tools on Indices charts. This button is shown below:

Line Studies on MT5

The button can be used to insert the following on the Indices Trading 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 Trading 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 Trading chart when a indices trader wants to mark a specific point in a stock indices chart, maybe to mark the time they bought indices instrument or sold indices. To insert this vertical line on a Indices Trading 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 Trading chart where you want to draw this line.

Insert a Vertical To a Indices Chart on MetaTrader 5

Horizontal Line

On the MT5 Indices trade platform, this line is placed on a Indices Trading chart so as to mark a resistance level or a support level on the stock indices 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.

Drawing a Horizontal Line on MT5

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

indices trend Line

This is one of the most commonly used stock indices 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 MT5 is shown below.

indices trend Line Drawn on MetaTrader 5

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 stock indices 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.

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.

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 MetaTrader 5 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.

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 MetaTrader 5 option as shown below.

Customizing Tools MT5 Studies