Srading.com

Menu
  • Home
  • Markets
    • Forex
    • Stock
  • Fundamental Analysis
    • Economics
    • Money & Banking
  • Technical Analysis
    • Drawing Tools
    • Chart Patterns
  • Tools
    • Online Charts
    • Economic Calendar
    • Interest Rate Today (Live Widget)
    • Forex Market Hours
    • Currency Indexes Chart
    • National Holiday Calendar
    • CoT Chart
    • Quotes
Home
Technical Analysis
Drawing Tools
Vertical and Horizontal Lines in the Forex
Drawing Tools

Vertical and Horizontal Lines in the Forex

June 4, 2022 Zafari

Vertical and horizontal lines in the forex are parts of the drawing and technical analysis.

A vertical line is a good tool for the timing to put on the chart to remember new economic data releases or trading sessions.

On the other hand, traders use the horizontal line more frequently for drawing support and resistance lines to spot the entry and exit points.

Options, binary options, and futures traders use the vertical line more than forex and stock traders because they deal with timing more than others. Conversely, forex, CFD, and stock traders use the horizontal lines more than vertical lines because they deal more with price actions than timing.

We can say that a vertical line is a good tool for timing and a horizontal line for overbought or oversold prices.

You Will Continue Reading

Toggle
  • Drawing Vertical Line in MT4
    • The Vertical Line Properties or Settings in MT4
  • Horizontal Line in MT4

Drawing Vertical Line in MT4

Every software or trading platform has a vertical line. In this article, I explain how to use it on MT4 and MT5 platforms.

You can insert the vertical line in MT5, and MT4 which are among the most popular soft-wares from Line Studies toolbar, or follow the insert > objects > lines and click on the vertical line. To insert, left-click on the vertical, and again left-click where you want to put it.

Inserting vertical line in MT4 by MetaQuotes Software

Use the vertical line to select a time, such as events. It is not helpful to study price action in the forex market. However, it is a great tool to analyze the future market.

Use a vertical line in conjunction with text for upcoming news events. For example, a Non-Farm Payroll is a big event. Traders use a vertical line to not miss or forget an event by putting it on the time that a piece of news is released.

The Vertical Line Properties or Settings in MT4

The vertical line has some settings that assist you in adjusting. Before modifying the properties, make sure that two small squares are available at the top and bottom of the price chart. If it is not available, then double-click on it to appear.

To change properties, right-click on the line and click on “Properties of Vertical Line,” which is the first option.

Vertical line properties selection by in MT4 by MetaQuotes Software

The vertical line properties window has three tabs. They are Common, the Parameters, and Visualization.

Vertical line setting window in MT4 by MetaQuotes Software

In the Common tab, you can name, put a prescription and give it a style. Moreover, there are two options that you can tick. The first one is “Draw object as background,” which puts your vertical line on the back of the price chart. The second one is “Disable selection,” which makes you unable to select and modify. If you tick “Disable selection,” you can only delete it (cannot change the setting) by right-clicking anywhere on the price chart and selecting “Object list.” From the list, find the vertical line, tick it and click on delete on the right of the window.

In the parameters tab, you have two options named Date and Ray. In Date, you can select the exact timeframe in which you want to see your vertical line. If you check the Ray, your vertical line will continue drawing in the indicator window. If you uncheck the Ray, you will see it only on the main chart.

In the “Visualization” tab, you can select the timeframe in which you want to see the line in the chart.

Horizontal Line in MT4

The horizontal line can be helpful for those traders that use support and resistance lines techniques for their analysis.

Inserting a horizontal line is similar to a vertical line. You can insert it from Line Studies toolbar or by following insert > objects > lines and finally clicking on the horizontal line.

The horizontal line properties are the same as the vertical line, except for the Ray option that the horizontal line does not have.

In my personal opinion, do not use too many horizontal lines on your chart. It makes you confusing. Just put in some major pivot points.

Share
Tweet
Linkedin
Pinterest
Reddit
Email
Next Article
Tags:Forex Technical Analysis

Related Articles

What is the Stochastics Oscillator & How to Trade It?

What is the Stochastics Oscillator & How to Trade It?

How to Use Fibonacci Channel?

How to Use Fibonacci Channel?

Commodity Channel Index (CCI): Calculation and Trading Strategy

Commodity Channel Index (CCI): Calculation and Trading Strategy

All Moving Averages (SMA, EMA, SMMA, and LWMA)

All Moving Averages (SMA, EMA, SMMA, and LWMA)

Technical Indicators: Types and How to Use Them?

Technical Indicators: Types and How to Use Them?

What Are Fibonacci Arcs and Do They Work?

What Are Fibonacci Arcs and Do They Work?

About The Author

Zafari

Zafari is a professional trader and has been in the financial market since 2014. He has a bachelor of public economics and an MBA. For some reason, he does not show his face. And he loves you all!

Leave a Reply Cancel Reply

Recent Posts

  • Capitalism: The Definitive Guide
    What Is Capitalism? Capitalism is an economic and political system …
  • Trading Checklist: What It Is, Info-graphic, and …
    What Is a Trading Checklist? A trading checklist is a …
  • Private Equity (PE): What It Is, How …
    Private equity is an investment in a private company. The …
  • Government Spending: The Definitive Guide
    Government spending refers to the government’s total expense and the …
  • Three Basic Economic Questions Explained in Simple …
    Three basic economic questions are: Who answers these questions? The …

Popular Posts

    Srading.com

    QUICK LINKS

    • About
    • Cookies Policy
    • Terms & Conditions
    • Disclaimer
    • Privacy Policy
    • Contact Us

    LATEST POSTS

    • Capitalism: The Definitive Guide
    • Trading Checklist: What It Is, Info-graphic, and PDF
    • Private Equity (PE): What It Is, How It Works, & How to Get In
    • Government Spending: The Definitive Guide
    • Three Basic Economic Questions Explained in Simple Words

    FOLLOW US ON SOCIAL MEDIA

    • Facebook
    • Twitter
    • LinkedIn
    • Instagram
    • Pinterest
    • Telegram
    • Reddit
    • YouTube

    Trading financial assets are risky. Everything you read on this website is just for educational purposes or personal opinions only. Read our DISCLAIMER!

    Copyright © 2025 Srading.com
    Call on WhatsApp

    Ad Blocker Detected

    Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

    Refresh
    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By continuing this website or clicking “Accept”, you consent to the use of ALL the cookies.
    Do not sell my personal information.
    Cookie SettingsAccept
    Cookies Policy
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT