Drawing rectangles directly on the chart is made possible by TradeLocker’s useful rectangle tool. It is useful for drawing attention to particular locations, including price ranges, breakout zones, or patterns of consolidation.
Finding the important zones of interest on your chart is made easier with the help of this tool. It helps to frame consolidation patterns so that possible breakouts or breakdowns can be anticipated. It becomes useful to draw rectangles around price ranges to determine take-profit or stop-loss levels.
The rectangle tool is also useful for indicating previous resistance and support levels, which provides context for the present price movement. All in all, it helps make your chart easier to read and makes it possible to understand intricate patterns and levels more quickly.
Check out the video below to learn how to use the Rectangle tool on TradeLocker to locate important interest zones on your chart: