Placing Gann Lines on XAUUSD Charts in MT5

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

Drawing Gann Lines on MT5 Gold Candlestick Charts

Gann Line

The Gann Line is similar to a gold trendline & to draw this gold 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, the Gann Line might need you to change some parameter so as to achieve the draw that you require.

How to Draw Gann Line in MetaTrader 5

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 upwards gold trend the upward trend momentum might be reducing.

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

Example of Gann Fan on upwards trend:

Gann Fan on MT5 Gold Candlestick Charts

Gann Grid

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

Drawing Grids on MT5 Gold Candlestick Charts