Insert Shapes on XAUUSD Charts on the MT5 Platform

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

Insert Shapes on MT5

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

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Gold Trading Chart

To draw a rectangle on MetaTrader 5 gold charts, a gold trader will select the rectangle button and then select between which points on a Gold 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 MetaTrader 5 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Drawing Rectangle Shape on MT5 Gold Charts

The rectangle shape is used to draw a consolidation range pattern where xauusd price breakout to one side will mean xauusd 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 MetaTrader 5 xauusd 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 MetaTrader 5 buttons appearing on the edges as shown below and adjust the triangle points.

Drawing Triangle on XAUUSD Charts in MT5

Draw Ellipse

To draw the ellipse shape, follow the steps 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 appear as a line)
3. Double click the ellipse using the small squares at the middle, click, hold and drag this square and the ellipse will be adjusted as shown below.

Drawing Ellipse Shape on MT5 XAUUSD Charts on MetaTrader 5