Insert Shapes on Charts on the MetaTrader 4 Platform

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

Insert Shapes on Trading Platform MetaTrader 4

The 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 mMetaTrader 4 charts, a trader will select the rectangle button and then choose between which points on a Forex 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 Forex Charts

Rectangle shape is used to plot 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 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 chart, select 3 points, point 1, 2 and 3 after which the triangle is plotted 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 Forex Charts in MetaTrader 4

Draw Ellipse

To draw the ellipse shape, follow the tutorial lines below:

1. Select the Ellipse button as displayed above
2. On the chart choose point 1 and drag the mouse to point 2, (the ellipse will appear 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 displayed below.

Drawing Ellipse Shape in MT4 Forex Charts in MT4