Setting Gann Lines on BTCUSD Charts in MetaTrader 5

The Gann Lines is the fourth option on Insert Menu within the MT5 Bitcoin Crypto Currency Software. The Gann Lines Button is used to place Gann Lines on the Bitcoin Charts and it is shown below.

Drawing Gann Lines on MT5 Candle Charts

Gann Line

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

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

How Do I Draw Gann Line on MetaTrader 5

Gann Fan

The Gann Fan is drawn between two points, this technical indicator will draw a set of bitcoin crypto currency trend-lines, these bitcoin trend lines are drawn at different angles, This Fan will draw the middle line at an angle of 45 degrees as long as bitcoin price is above this 45 degrees line then the momentum of the upward bitcoin trend will continue as illustrated below. If bitcoin price moves below this line in an up-ward bitcoin trend the upward bitcoin trend momentum might be reducing.

The Gann Fan is also plotted for a down-wards bitcoin trend and the same analysis applied to the downward direction.

Example of Gann Fan on upward trend:

Gann Fan on MT5 Candle Charts

Gann Grid

The Gann grid uses 2 points just like a btcusd crypto trend-line to be plotted, once these two lines are plotted, this Grid indicator then will draw grids on chart which are at an angle of 45 degrees, the traders can use these grids for analyzing bitcoin price movement.

Drawing Grids on MT5 Candle Charts