Question about Text Lables

Hi there,

When I plot certain lines on my charts, I like to label them. I have found, however, that these labels tend to move around and don't stay with the lines I've drawn. Is there a way to anchor text to certain drawing objects on the charts so it doesn't move around so much?

Thanks in advance for your responses.

Nancy

Hi Nmpeters

The simple answer to your question is that you can only anchor objects to time and price, not to each other.

With regard to plotting text on your charts, MT4 provides "Text" and "Text Labels".

Text Labels:
These remain at an anchored point on the screen, even if you scroll left/right, zoom in/out, change the vertical scale, or switch between different timeframes. This is because their parameters specify that they be plotted at a fixed X-distance and Y-distance from any given corner of the screen (chart).

Text:
These are supposed to remain anchored to time and price. Note that, if you double-click to select a text object, there is a white dot in the center of the top edge of the drawn box. This represents the time (horizontal coordinate) and price (vertical coordinate) that has been set in the parameters, to which the box is anchored, and should not change as the chart is scrolled or zoomed.

However, other objects (e.g. line studies) have different anchor points which are affected differently by the scrolling or re-sizing, which causes their apparent re-location relative to the text. In the case of a trendline, the anchor point is the point in the center of the line. (If you double-click to select the line, you can see this point, and then drag it around to relocate the line).

Also note that if the chart is re-sized, or the timeframe is changed, the font size remains the same, but the price bars, and also certain other objects are re-scaled to fit time/price, so that their sizes relative to each other are likewise altered.

To minimize these problems, try to align the anchor points of each object as close together as possible. That is the best that you can do.

David

Ohhhhhhhhhhhh ok. Thanks so much for your answer. I've been using the wrong object then. I've been using the Text instead of the Text Label. I'll have to change that. Thanks again for your response. Much appreciated.

Nancy

Oh i see