How to draw Horizontal Lines in MT4
If you want to learn more about MT4 then you have come to the right place. After numerous requests, we have decided to write a couple of articles dedicated to teaching MT4 basics.
In this part, we will focus on how to draw Horizontal Lines in MT4. Now, let us see how we go about creating a Horizontal Line in MT4
Step 1: Find the Horizontal Line Button in MT4
The first step is to find the Line Studies Toolbar. That will be the toolbar that looks like the one below.
Then, find the Horizontal Line button on the toolbar. You can find an example of what it will look like below.
In order to create a horizontal line, simply click on the “Horizontal Line” icon (example above). After doing this move your mouse over to your chart.
You can click anywhere on the chart in order to draw or place your horizontal line. Don’t worry if the one you draw on your chart looks different from the one in our example below.
We will discuss how to edit these lines later in the article.
Step 2: How to move and edit your Horizontal Lines
In order to move or edit your horizontal line, you first need to select it. You do this by simply double clicking on it. This will create two selection blocks on the left and right of the horizontal line as seen in the example below).
You will also notice that the horizontal line gives you the price level value on the right of the screen. Once you have double clicked on your horizontal line you can now click and drag it up or down to any location on the chart.
Now let us look at how we can edit our Horizontal lines. Right-click anywhere on the Horizontal line.
This should give you a small pop up window like the one seen below.
From here, select the “Horizontal Line properties” option on the top. This will pop up another window as seen below.
The window contains three tabs namely; Common, Parameters and Visualization.
The first one we will explore is the Common Tab. Here you can change the description of the horizontal line, as well as the colour, styling and thickness.
For now, let’s write a short message in the “Description” box. We have written “Important Price Level” in this example.
You can also use the drop-down menus to change the colour, line style and thickness that you want. Try to do this now.
The next one we will now look at is the Parameters tab. Once you select the Parameters tab you should see a window like the one below.
In this tab, it shows you the exact price level on which the horizontal line is displayed on the chart. From here, you can also type in an exact price level where you want the horizontal line to be placed.
Once you have entered a price level and press the OK button it will take the line to that exact price level. This is especially useful for marking specific price levels you want to keep track of on the chart.
The next one we will now look at is the Visualization tab. Once you select the Visualization tab you should see a window like the one below.
In this tab, you can choose whether you want the horizontal line to only be visible on certain timeframes only. This is very helpful in case you might have multiple lines on your chart.
By only making them visible in certain timeframes will help to de-clutter your chart on the higher timeframes.
After you are done with your setting changes click the “OK” button. You will notice that the message we typed in the “Description” section (in the “Common” tab) is now displayed on the left of the screen on the Horizontal line (see below).
This can be a useful tool if there are very important price levels that you want to be aware of on the chart.
If you want to delete your Horizontal Line, simply select it and press the “Delete” button on your keyboard.
We hope that this MT4 tutorial has been helpful and useful to you. Be sure to check out our blog for more articles like this one. For those who want more help, check out our comprehensive MT4 manual which teaches how to use MT4 in a lot of detail.
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