How to Draw Channels on MT4
To draw Channels in MT4 use MT4 Charts Drawing Tools for Drawing Channels in MT4 Stock Charts
The MetaTrader 4 indices Channels drawing tools used to draw these Channels setups on the MetaTrader 4 are located on the MT4 drawing charts toolbar within the MetaTrader 4 Platform, To get this MetaTrader 4 charts toolbar if it is not activated on your platform, Click in 'View' Next to 'File' menu at the tops left corner of the MT4 platform & click 'View', Then Click on the 'Tool Bars' button, Then Check the 'Lines Tool-bar' by clicking on it.
Shown Below is example of MT4 Channels drawing charts toolbar. To draw Channels on charts just click on this Channels drawing tool & select the point where you want to plot the upwards Channels or down ward indices Channels.
How to Draw Channels in MT4 on MT4 Charts
Stock Upward Channels
An upwards channel is drawn by plotting a line that is parallel to the up-wards trendline & then adjusted to touch the top boundary of the price movement. This then forms a channel and as long as the price stays between these two channels the bullish market movement will continue moving up.
How to Draw Indices Trading Up Ward Channels in Meta Trader 4
Indices Downward Channels
A downward channel is plotted by drawing a line that's parallel to the down-wards trendline & then adjusting it to touch the bottoms boundary of the price movement. This then forms a downwards channel & as long as the price stays between these 2 channels the general market trend direction is intact the market trend direction will continue being bearish.
How to Draw Indices Down Ward Channels on MT4 Software
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Alternatives: Automated EA Trading or Copy and Paste Signals
