Today’s lesson focuses on the powerful chart object tools available within Deriv MT5 and how these can elevate your technical analysis and trading results. By learning how to make the most of these graphical features, you’ll be able to interpret market action with much greater clarity and precision.

Introduction to using chart objects

Chart objects in Deriv MT5 are visual tools that you can add directly to your trading charts. These allow you to pinpoint price levels, delineate trends, and annotate your charts with important information—helping you gain more context from each price move.

To use these objects, go to the ‘Insert’ menu and hover over ‘Objects.’ Let’s walk through the most valuable and commonly used options.

Essential chart objects and their Uses

• Lines:
  
  • Horizontal Lines: Mark critical price areas like support and resistance so you can see where reversals or consolidations could occur.
  • Vertical Lines: Flag particular times, such as news events, making it easier to link price action with market triggers.
  • Trendlines: Connect highs and lows to establish trend direction, helping you decide if a trend is gaining or losing momentum.
• Channels:
  
  • Equidistant Channels: Two parallel lines that outline the high and low bounds of a trend, highlighting price swings and potential breakout zones.
  • Andrews’ Pitchfork: Uses three parallel lines based on a major price pivot. The middle line shows the dominant trend, while the upper and lower lines help define likely support and resistance.
• Gann tools:
  
  • Gann Line: A 45-degree angle line, helping evaluate the equilibrium between time and price movement for trend strength.
  • Gann Fan: A series of fan-like lines spread from a pivot, used to forecast trend direction and turning points.
• Fibonacci tools:
  
  • Fibonacci Retracement: Horizontal lines at standard Fibonacci ratios; these help spot where the price might pull back or bounce.
  • Fibonacci Channel: Parallel lines, proportional to Fibonacci ratios, which add extra depth to trend analysis and future price projections.
• Elliott Wave tools:
  
  • These allow you to plot impulsive (dominant trend) and corrective (countertrend) waves—aiding in decoding complex market cycles.
• Shapes, arrows, and other graphics:
  
  • Use arrows to highlight key events, shapes to spotlight consolidation, or to visually call out trading opportunities and patterns on your charts.

Customizing and managing chart objects

Once a chart object is on your chart, you can tailor its position and appearance:

• To adjust, click to select and drag the object or use edit handles.
• Remove any object by right-clicking and choosing ‘Delete’ or pressing Backspace. If you make a mistake, undo quickly with Ctrl+Z or ‘Undo Delete’ in the right-click menu.
• To personalize, right-click the object and go to ‘Properties’. Here you can:
  
  • Change colors, thickness, or line style under the Common Tab.
  • Edit levels or settings for advanced tools (such as Fibonacci or Gann) in the Levels Tab.
  • Fine-tune coordinates or appearance in the Parameters Tab.
  • Decide which timeframes you want the object to show on using the Visualisation Tab.

Conclusion

Mastering chart objects in Deriv MT5 can significantly sharpen your technical analysis, making it easier to notice critical price levels, visualize trends, and keep your charting focused and informative. Practicing these tools in a demo environment is highly recommended before integrating them into your live trading.

In the following lesson, we’ll explore Deriv MT5’s suite of technical indicators—another essential toolkit for insightful market reading. Good luck and happy charting!