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How do you add an Object to a chart in MT5?

There are many different types of objects that can be used to analyze charts in MetaTrader 5.

Analytical objects

Analytical objects are used for trends identification, plotting channels, support and resistance levels, and so on.

It is possible to use up to 46 analytical tools on MetaTrader 5, including:

  • Lines — trend lines, horizontal, cyclic lines, etc.;
  • Channels — equidistant, regression channel, etc.;
  • Gann Tools —various technical analysis tools developed by famed finance trader William Gann;
  • Fibonacci Tools — a set of technical analysis tools created on the basis of the numerical sequence by L. Fibonacci;
  • Elliott Tools —technical analysis tools based on the wave theory of R. N. Elliott;
  • Shapes — geometric shapes (square, triangle, and ellipse) that allow you to mark various areas in the price chart;
  • Symbols - arrows, check, stop signs, etc.;

Graphical objects

Some of the graphical objects are available in MetaTrader 5, through the insert menu, include:

  • Text and Text Label – these are used to add comments and text labels to a chart
  • Button – used for processing events from custom indicators, expert advisors, and scripts
  • Graph – it's used to add a mini chart window of the current chart with the ability to set up timeframes and symbols.
  • Edit – used to place an editable field in a chart window
  • Rectangle label – used to create rectangles and add interfaces on charts.

How to add an Object to a chart in MT5

Adding objects to charts in MetaTrader 5 is done through the insert menu.

  • Hover to the insert and click on objects from the dropdown options
  • Select an object and click on the chart to add the object.
    • Simple objects like lines, arrows, and labels, can be plotted using one point.
    • To add complex objects like channels, Fibonacci, and Gann, click on the chart to select the starting point, hold down the mouse button to select the direction of the object and its second or end point.