Placing Gann Lines on XAUUSD Charts in MT5

The Gann Lines is the fourth option in the Insert Menu within the MT5 Gold Trading Platform. The Gann Lines Button is used to place Gann Lines on the Gold Charts and it is shown below.

Drawing Gann Lines on MT5 Gold Candlestick Charts

Gann Line

The Gann Line is similar to a gold trend line and to draw this gold trend line a gold 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 trend.

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

How to Draw Gann Line on MT5

Gann Fan

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

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

Example of Gann Fan on upward trend:

Gann Fan on MT5 Gold Candlestick Charts

Gann Grid

The Gann grid uses two points just like a gold 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 xauusd traders can then use these grids for analyzing xauusd price movement.

Drawing Grids on MT5 Gold Candlestick Charts