Insert Shapes on Charts on the MetaTrader 4 Software

To place shapes on the MT4 cfd platform, a trader can use the Insert Menu and use the insert shapes button that is shown below.

Insert Shapes on MT4 Software

Options of which shapes that can be plotted on the MT4 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Chart

To draw a rectangle on mMT4 cfd charts, a trader will select the rectangle button key & then select between which points on a CFD Trading chart to draw this rectangle. To adjust a triangle that has already been drawn, a trader can also double click anywhere on this shape and then select the square buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Drawing Rectangle Shape in MetaTrader 4 CFD Charts

The rectangle shape is used to draw a consolidation range pattern where price breakout to one side will mean price movement will continue in that direction, as shown above, when the price breaks out upward it continues to move in that direction.

Draw Triangle

To draw a triangle, a trader can select the triangle button and then on the MT4 chart, select 3 points, point 1, two and Three after which the triangle is drawn within these 3 chooseed chart points. To adjust the triangle, just doubleclick this triangle, then select the square buttons appearing on the edges as shown below and adjust the triangle points.

Drawing Triangle on Charts on MT4 Software

Draw Ellipse

To plot the ellipse shape, follow the guide lines below:

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

Drawing Ellipse Shape on MT4 Charts on MetaTrader 4 Software