Insert Shapes on Commodities Trading Charts on the MT4 Platform
To place shapes on the MT4 commodities platform, a trader can use the Insert Menu and use the insert shapes button that is shown below.
Insert Shapes on MT4 Platform
Options of which shapes that can be plotted on the MT4 platform are:
- Rectangle
- Triangle
- Ellipse
Draw Rectangle on Commodities Trading Chart
To draw a rectangle on mMT4 commodity charts, a trader will select the rectangle button & then choose between which points on a Commodity 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 Commodity Trading Charts
The rectangle shape is used to draw a consolidation range pattern where commodities price break out to one side will mean commodities price movement will continue in that direction, as shown above, when the commodities price breaks out upwards 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 commodities chart, select 3 points, point 1, 2 and 3 after which the triangle is drawn within these three selected chart points. To adjust the triangle, just double click this triangle, then select the square buttons appearing on the edges as shown below and adjust the triangle points.
Drawing Triangle on Commodities Charts in MetaTrader 4 Platform
Draw Ellipse
To plot the ellipse shape, follow the procedure below:
- Select the Ellipse button as displayed above
- On the chart choose point 1 and drag the mouse to point 2, (the ellipse will appear as a line)
- Doubleclick the ellipse using the small squares at the middle, click, hold and drag this square and the ellipse will be adjusted as displayed below.
Drawing Ellipse Shape in MetaTrader 4 Commodities Trading Charts in MT4 Platform
