Placing Gann Lines on Crude Oil Trading Charts in MT4

The Gann Lines is the fourth option in the Insert Menu within the MT4 Oil Trading Software. The Gann Lines Button Key is used to place Gann Lines on Oil Trading Charts and it's shown below.

Drawing Gann Lines on MT4 Oil Trading Candlestick Trading Charts

Gann Line

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

However, the Gann Line may require you to change some parameter in order to achieve the draw that you require.

How to Draw Gann Line in MT4

Gann Fan

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

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

Example of Gann Fan on upwards trend:

Gann Fan on MT4 Oil Trading Candlestick Trading Charts

Gann Grid

The Gann grid uses two points just like a oil trend line to be drawn, once these two 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 oil price movement.

Drawing Grids on MT4 Oil Trading Candlestick Trading Charts