How Do I Draw Trendlines, Support, and Resistance Levels on MT5 Charts?

Created by Support Ridgecorp, Modified on Sat, 19 Oct at 1:45 AM by Support Ridgecorp

Drawing Tools in MT5 help you mark important price levels and trend directions:

Step 1: Open the Chart:
- Open the chart for the instrument you want to analyze.
Step 2: Select a Drawing Tool:
- Use the toolbar at the top of the chart, or go to the ‘Insert’ menu.
- For trendlines, select the ‘Trendline’ tool.
- For horizontal lines (support/resistance), select ‘Horizontal Line’.
Step 3: Draw the Line:
- Click on the chart at the starting point, drag, and release at the ending point.
- For trendlines, draw along the highs or lows of price movements.
- For support and resistance levels, place horizontal lines at key price levels where the price has previously reversed.
Editing Lines:
- Right-click on the drawn line and choose ‘Properties’ to adjust colour, style, and precise placement.