Placing Gann Lines on Charts in MetaTrader 4

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

Drawing Gann Lines in MT4 Candlestick Charts

Gann Line

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

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

How to Draw Gann Line on MetaTrader 4

Gann Fan

The Gann Fan is drawn between two points, this indicator will draw a set of trend lines, 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 below. If price moves below this line in an upwards trend the upward trend momentum may be reducing.

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

Examples of Gann Fan on upward trend:

Gann Fan in MT4 Candlestick Charts

Gann Grid

The Gann grid uses two points just like a trendline 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 price movement.

Drawing Grids in MT4 Candlestick Charts