Placing Gann Lines on Charts on MT4

The Gann Lines is the fourth option in the Insert Menu within the MT4 Platform. Gann Lines Button is used to place Gann Lines on the Charts & it is displayed below.

Drawing Gann Lines on MT4 Candlestick Charts

Gann Line

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

However, the Gann Line might need you to change some parameter so as to achieve the draw that you require.

How to Draw Gann Line on MetaTrader 4

Gann Fan

The Gann Fan is drawn between 2 points, this indicator will draw a set of 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 shown & illustrated below. If stock price moves below this line in an upwards trend the upward trend momentum might be reducing.

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

Example of Gann Fan on upwards trend:

Gann Fan on MT4 Candlestick Charts

Gann Grid

The Gann grid uses 2 points just like a trend line to be drawn, once these 2 lines are drawn, this Grid will then draw grids that are at an angle of 45 degrees, the traders can then use these grids for analyzing price movement.

Drawing Grids on MT4 Candlestick Charts