Price Action Channel Indicator MetaTrader 4

How to Draw MT4 Channel Indicator

The tools to draw these a indices channel on MT4 platform, MT4 are located on the MT4 chart drawing indicators toolbar within the MT4, To access this chart indicator toolbar if it is not activated on your MT4 software, Click in 'View' Next to 'File' at the top-left corner of MetaTrader 4 and click View, Then Click on Tool Bars, Then Check 'Lines Tool Bar' by clicking on it.

Shown Below is examples of MT4 Channel Indicator Drawing Tool on MetaTrader 4 Charts Tool Bar. To draw a channel on a stock chart click this MT4 Channel Trading Indicator tool & choose the point where you want to plot the channel on the stock chart.

MT4 Trendline Drawing Indicator

MT4 Channel Indicator Tools for Drawing Indices Channel - How to Draw MT4 Channel Technical Indicator

MT4 Channel Indicator is one of the technical analysis tool on MetaTrader 4 Chart Tools in MT4 Charts Tool Bar.

Upward Channel Indicator MetaTrader 4

An upward indices channel is drawn by plotting a line that is parallel to the up-wards trendline & then adjusted to touch the top boundary of the stock trading price movement. This then forms a channel and as long as the stock trading price stays between these 2 channels the bullish market indices trend movement will continue moving upwards - bullish trend.

Technical Analysis of Upward Channel Indicator MT4

Trading the Upward Indices Channel - How to Draw MT4 Channel Indicator

Technical Analysis of Upward Channel Indicator MT4 - This MetaTrader 4 channel is used by stock traders to show levels where it best to take profits. Traders will take some profit once the stock trading price touches the upper channel & wait for another retracement before opening a buy trade again.

Downwards Channel Indicator MetaTrader 4

A downward indices 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 stock trading price movement. This then forms a indices channel & as long as the stock trading price stays between these 2 channels the general market indices trend direction is intact the stock trading market direction will continue being bearish - bearish trend.

Technical Analysis of Downward Channel Indicator MT4

Trading the Downward Stock Indices Channel - How to Draw MT4 Channel Indicator

Technical Analysis of Downward Channel Indicator MetaTrader 4 - The downwards channel is used by stock traders to show levels where it best to take profits. Traders will take some profit once the stock trading price touches the lower channel or the lower channel & wait for another retracement before opening a sell trade again.