How to Draw MetaTrader 4 Channel Indicator

A downward xauusd channel is plotted by drawing a line that's parallel to the downward xauusd trendline & then adjusting it to touch the bottoms boundary of the gold price movement. This then forms a xauusd channel & as long as a price stays between these two channels the general xauusd market xauusd trend direction is intact - the xauusd market direction will continue being bearish - bearish gold trend.

How to Draw MT4 Down XAUUSD Trend Channel Indicator - Downward Channel Indicator MetaTrader 4 Technical Indicator

How to Draw MT4 Channel XAUUSD Indicator - Analysis of Downward Channel Gold Indicator in MT4 Platform

Analysis of Downwards Channel Indicator MetaTrader 4 - The downward xauusd trend channel is used by online gold traders to show levels where it best to take profits. Traders will take some profit once the gold price touches the lower channel or the lower channel & wait for another retracement before opening a sell gold trading again.

MetaTrader 4 Channel Indicator Tools for Drawing Downward Gold Channel

MT4 XAUUSD Trend Indicators - the tools to draw these a xauusd downwards channel in MT4 platform, MT4 platform are located on the MetaTrader 4 xauusd chart drawing indicators toolbar within the MetaTrader 4 platform, To get this MT4 xauusd chart indicator toolbar if it is not activated on your MT4 software, Click in "View" Next to "File" menu at the tops left corner of MetaTrader 4 platform and click View, Then Click on Tool Bars, Then Check the "Lines Toolbar" by clicking on it.

Below is the example of MetaTrader 4 Channel Indicator Drawing Tool on MT4 Charts Tool Bar. To draw a channel on a xauusd chart click on this MT4 Channel Indicator xauusd tool and select the point where you want to plot the downward xauusd channel on the gold chart.

MetaTrader 4 Channel Indicator Tools for Drawing Downward XAUUSD Channel