One of the trickiest MetaTrader 4 tips is to use the same objects multiple times. For instance, imagine you count waves with the Elliott Waves Theory.
Essentially, it means placing a bunch of numbers and letters on charts, to count impulsive or corrective waves. Following a precise set of rules, traders can forecast the next market move.
But the numbers and letters are the same: 1-2-3-4-5 and a-b-c. Sometimes, an intervening x-wave appears too. However, that’s pretty much it.
It means that the copy and paste function is useful again. To use it, follow these steps:
- select an object from a chart (e.g. trendline, text, channel, etc.).
- push down the CTRL tab on your P.C.
- click the object again
- drag the new object to the desired location
Following these four steps in this sequence is important. By the time you click the object again, having the CTRL tab pushed, the MT4 platform projects a new, identical object right on top of the existing one.
In other words, it is not visible, as it sits on top of the initial one. Hence, what you have to do is to drag it somewhere else on the screen.
With texts it is easy, but with trendlines is a bit more complicated. For instance, if you want to build a channel, you want to keep the original trendline’s characteristics intact (e.g., the angle).
Hence, after copying the trendline, drag it from the point in the middle, so that you have two parallel trendlines to build your channel.