Insert Shapes on XAGUSD Charts on the MT4 Platform

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

Insert Shapes in MetaTrader 4

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

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Silver Trading Chart

To draw a rectangle in MetaTrader 4 silver charts, a trader will select the rectangle button key & then select between which points on a Silver 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 on MT4 Silver Charts

The rectangle shape is used to draw a consolidation range pattern where xagusd price break out to one side will mean xagusd price movement will continue in that direction, as shown above, when the xagusd 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 xagusd 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 XAGUSD Charts in MT4 Platform

Draw Ellipse

To draw the ellipse shape, follow the procedure 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. 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 XAGUSD Charts on MetaTrader 4