Placing Gann Lines on Gold Charts in MetaTrader 4

The Gann Lines is the fourth option in the Insert Menu within the MetaTrader 4 XAUUSD Platform. The Gann Lines Button Key is used to place Gann Lines on Gold Charts and it's shown below.

Drawing Gann Lines on MT4 Candlestick Charts

Gann Line

The Gann Line is similar to a xauusd trend-line and to draw this xauusd trend line a trader must choose 2 points and draw this line between these 2 point, just like the trendline the Gann line is also used to show the trend.

However, Gann Line may require you to change some parameter so as to achieve the draw which you require.

How to Draw Gann Line on MT4

Gann Fan

The Gann Fan is drawn between two points, this indicator will draw a set of xauusd trendlines, these trend-lines are drawn at different angles, This Fan will draw the middle line at an angle of 45 degrees as long as price is above this 45 degrees line then the momentum of the upward trend will continue as illustrated and shown below. If gold price moves below this line in an upwards xauusd trend the upward trend momentum may be reducing.

The Gann Fan is also drawn for a downwards xauusd trend & the same analysis applied to the downwards direction.

Examples of Gann Fan on upward trend:

Gann Fan on MT4 Candlestick Charts

Gann Grid

The Gann grid uses two points just like a xauusd trendline to be drawn, once these two lines are drawn, this Grid will then draw grids which are at an angle of 45 degrees, the traders can then use these grids for analyzing gold price movement.

Drawing Grids on MT4 Candlestick Charts