Does any body know how to instantiate a custom drawing tool or if it is even possible ?

So far the only solution i found to draw a custom drawing object was to simulate a hot key pressed using this command:

System.Windows.Forms.SendKeys.SendWait("%3"); // Alt+3

Any help would be appreciated.

You mean from inside ninjascript? There's a whole list of interfaces that allow you to do this from ninjascript.

Here's the full list and references to documentation on how to use each.

https://ninjatrader.com/support/helpGuides/nt8/drawing.htm

Hope this is what you're looking for.