Placing Gann Lines on Charts in MT4

The Gann Lines is the fourth option in the Insert Menu within the MT4 Gold Trading Software. The Gann Lines Button Key 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 trendline and to draw this trend line a trader must select 2 points & draw this line between these two point, just like the trendline the Gann line is also used to explain the trend.

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

How to Draw Gann Line in MetaTrader 4

Gann Fan

The Gann Fan is drawn between two 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 upwards trend will continue as shown below. If xauusd price moves below this line in an upwards trend the upward trend momentum may be reducing.

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

Example of Gann Fan on upwards trend:

Gann Fan on 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 which are at an angle of 45 degrees, xauusd traders can then use these grids for analyzing xauusd price movement.

Drawing Grids on MT4 Candlestick Charts