Insert Shapes on Charts on the MT5 Platform

To place shapes on the MT5 Forex trading platform, a trader can use Insert Menu and use insert shapes button key that is shown and illustrated below.

Insert Shapes on Platform MetaTrader 5

Options of which shapes that can be drawn on the MT5 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Chart

To draw a rectangle on mMetaTrader 5 charts, a trader will select the rectangle button & 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 MT5 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Drawing Rectangle Shape in MT5 Forex Charts

Rectangle shape is used to plot a consolidation range pattern where forex price break out to one side will mean forex 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 MT5 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 MT5 buttons appearing on the edges as shown below and adjust the triangle points.

Drawing Triangle on Forex Charts on MT5

Draw Ellipse

To draw the ellipse shape, follow the guide-lines below:

1. Select the Ellipse button key 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. Doubleclick the ellipse using the small squares at the middle, click, hold and drag this square & the ellipse will be adjusted as shown below.

Drawing Ellipse Shape on MetaTrader 5 Forex Charts on MetaTrader 5 Software