Insert Shapes on Gold Charts on the MetaTrader 4 Platform

To place shapes on the MetaTrader 4 xauusd platform, a trader can use Insert Menu & use insert shapes button key that is illustrated and shown below.

Insert Shapes on MT4

The options of which shapes that can be drawn on the MetaTrader 4 platform are:

1. Rectangle
2. Triangle
3. Ellipse

Draw Rectangle on Gold Trading Chart

To draw a rectangle on mMT4 xauusd charts, a trader will choose the rectangle button key and then select between which points on a XAUUSD 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 buttons that appear at all the corners of this rectangle and drag them to adjust this rectangle.

Drawing Rectangle Shape on MT4 XAUUSD Charts

Rectangle shape is used to plot a consolidation range pattern where gold price breakout to one side will mean gold 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 gold 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 Gold Charts in MT4

Draw Ellipse

To plot the ellipse shape, follow the guidelines below:

1. Select the Ellipse button as shown above
2. On the chart select point 1 & 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 & drag this square & the ellipse will be adjusted as displayed below.

Drawing Ellipse Shape on MT4 Gold Charts in MetaTrader 4