Horizontal lines are normally used to mark horizontal aid and resistance areas on the chart, normally by means of connecting the rate highs (resistance) or price lows (support).
To add horizontal lines, virtually click on the tab on which a horizontal line is drawn. You will locate this tab on the left side of the toolbar of the MT4 platform.
The following image will appear:
And, after it has appeared, just click on on the precise factors to which you favor the horizontal line to be applied.
Alternatively, you can click on somewhere and later use your cursor to drag the horizontal line into position. As a rule, a horizontal line can only be used as a legitimate guide or resistance line if it touches at least two fee lows or rate highs respectively.
An alternative approach of adding a horizontal line to the chart is through clicking on the “Insert” tab positioned on the top left-hand aspect of the platform’s navigation bar.
After clicking on “Insert,” scroll down to “Lines” on the drop-down menu, then pick out the kind of line you prefer which, such as a horizontal line.
NB: Double-clicking on a horizontal line locks and unlocks it. You can solely cross or edit an unlocked lined. A small box subsequent to the line, placed close to the rate pane on the right of the chart implies that the line is unlocked.
You can edit the homes of a horizontal line. To do so, right-click on an unlocked line, and the following window will appear.
After clicking on Horizontal Line properties, the following pop-up window will appear.
At this point, you can exchange the name, color, style, and thickness, as well as add a description to the horizontal line. On the “Parameters” tab in the pop-up window, you can set the horizontal line to a unique rate level.
On the “Visualization” tab, you can set the timeframe on which you desire the line to appear. This is performed with the aid of checking the field beside the time frame(s) of your choice.
On MT4, vertical traces are in most cases used to mark the date and time at which a candlestick has appeared. They are very beneficial for conducting back tests. An instance of a vertical line is proven below.
Following the same manner as with adding horizontal lines, including vertical lines on a chart is through a easy click on the specific vertical line button and clicking on where you favor it to be located.
The process of editing and customizing vertical strains is comparable to the strategies mentioned above.
To delete vertical or horizontal lines, double-click on them to unencumber them and press “Delete.” Alternatively, you can right-click on an unlocked line and click on on “Delete” as shown in the picture below.
The Objects list is a precis window that shows you all the objects covered in a chart. It simplifies the process of finding and modifying unique objects.
To set off the objects list, actually press Ctrl + B or right-click on the chart and choose Object List. The image under suggests what the Object List appears like.
