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Use Gann tools

On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can draw "Gann line", "Gann fan", and "Gann grid" based on the Gann theory, developed by the legendary trader W.D.Gann (USA). This theory is used for a variety of purposes, including identifying the best trading points as well as the timing of trend reversals.

Here we'll take a look at how to display and set up the most famous Gann tool, the Gann fan.

Switch between MT4/MT5 tabs to check the steps for each.

mt4
mt5

Step 1

Click "Insert" in the menu. Hover the pointer over "Gann" and select "Gann Fan".

Select Gann Fan Select Gann Fan
  1. Gann line

    Gann fan

    Gann line is the line between the low and high and is the basis for the Gann fan and the Gann grid. You can draw the Gann line between any high/low. Defining this line as the "1x1", the most important line drawn in a 45 degree angle, you can predict the strength of the trend from its length and the price gap.

  2. Gann fan

    Gann grid

    Gann fan is also known as the Gann angles. In addition to the most important line, the 1x1 or 45-degree line, it draws nine other lines: 1x8 (82.5 degrees), 1x4 (75 degrees), 1x3 (71.25 degrees), 1x2 (63.75 degrees), 2x1 (26.25 degrees), 3x1 (18.75 degrees), 4x1 (15 degrees), and 8x1 (7.5 degrees).

  3. Gann grid

    Gann grid

    Gann grid takes the Grid line and places it evenly across the chart diagonally. The Gann grid is made up of multiple Gann lines. You can determine the strength of the market from the price and the location of the Gann line. If the price crosses the Gann line, it usually signals a break point.

Step 2

Click the starting point on the chart and drag it to set the period.

Click the starting point on the chart and drag it to set the period Click the starting point on the chart and drag it to set the period
point Values displayed during drawing Gann fan
Values displayed during drawing Gann fan Values displayed during drawing Gann fan

Values displayed when dragging indicate the number of candlesticks from the starting point to the end point and the number of points.

Step 3

If you want to adjust the position of the Gann fan, make sure the white dots are being displayed on the Gann fan and move each dot as necessary. If you cannot see the white dots, double-click near the Gann fan to display the white dots.

Adjust the position of the Gann fan Adjust the position of the Gann fan

Number

Descriptions

1

Change the starting point of the Gann fan.

2

Change the position of the Gann fan.

3

Change the period for the Gann line (a line where time and price are 1x1).

Step 4

To modify the Gann fan settings, right-click on the Gann fan line and select "Gann Fan properties...".

Modify the Gann fan settings Modify the Gann fan settings

Step 5

On the "Properties" window, edit the parameters in the "Common", "Parameters", and "Visualization" tabs and click "OK".

"Common" tab

Common tab of the Gann fan Common tab of the Gann fan

Number

Item name

Descriptions

1

Name

Name the Gann fan.

2

Description

The description can be displayed on the chart when hovering the pointer over the Gann fan.

3

Style

Set the color, line type, and line thickness for the Gann fan.

4

Draw object as background

Check this box if you want to place the Gann fan behind the chart.

"Parameters" tab

Parameters tab of the Gann fan Parameters tab of the Gann fan

Number

Item name

Descriptions

1

Starting point position

Specify the starting point position by date and price.

2

End point of the period

Specify the end point position by date.

3

Scale

Set the angle of the Gann fan.

"Visualization" tab

On the "Visualization" tab, you can specify the timeframes to use the Gann fan with.

Visualization tab of the Gann fan Visualization tab of the Gann fan
knowledge 28 trading rules

Some of Gann's trading rules are known as the "28 Trading Rules". It states various rules such as "Never risk more than 10% of your trading capital in a single trade" and "Always trade in active and liquid markets". Although Gann has left us numerous publications, there is no one definitive view on Gann's theory. To this day, there are still many different views on the subject.

Step 1

Click "Insert" in the menu. Hover the pointer over "Objects" > "Gann" and select "Gann Fan".

Click Insert in the menu. Hover the pointer over Objects > Gann and select Gann Fan Click Insert in the menu. Hover the pointer over Objects > Gann and select Gann Fan
  1. Gann line

    Gann line Gann line

    Gann line is the line between the low and high and is the basis for the Gann fan and the Gann grid. You can draw the Gann line between any high/low. Defining this line as the "1x1", the most important line drawn in a 45 degree angle, you can predict the strength of the trend from its length and the price gap.

  2. Gann fan

    Gann fan Gann fan

    Gann fan is also known as the Gann angles. In addition to the most important line, the 1x1 or 45-degree line, it draws nine other lines: 1x8 (82.5 degrees), 1x4 (75 degrees), 1x3 (71.25 degrees), 1x2 (63.75 degrees), 2x1 (26.25 degrees), 3x1 (18.75 degrees), 4x1 (15 degrees), and 8x1 (7.5 degrees).

  3. Gann grid

    Gann grid Gann grid

    Gann grid takes the Grid line and places it evenly across the chart diagonally. The Gann grid is made up of multiple Gann lines. You can determine the strength of the market from the price and the location of the Gann line. If the price crosses the Gann line, it usually signals a break point.

Step 2

Click the starting point on the chart and drag it to set the period. In MT5, you can specify the period for drawing the Gann fan.

Click the starting point on the chart and drag it to set the period Click the starting point on the chart and drag it to set the period
point Values displayed during drawing Gann fan
Values displayed during drawing Gann fan Values displayed during drawing Gann fan

Values displayed when dragging indicate the number of candlesticks from the starting point to the end point.

Step 3

If you want to adjust the position of the Gann fan, make sure the white dots are being displayed on the Gann fan and move each dot as necessary. If you cannot see the white dots, double-click near the Gann fan to display the white dots.

If you want to adjust the position of the Gann fan If you want to adjust the position of the Gann fan

Number

Descriptions

1

Change the starting point of the Gann fan.

2

Change the period for the Gann line (a line where time and price are 1x1).

Step 4

To modify the Gann fan settings, right-click near the Gann fan and select "Properties of (Gann name)".

Right-click near the Gann fan and select Properties Right-click near the Gann fan and select Properties

Step 5

On the "Properties" window, edit the parameters in the "Common", "Parameters", and "Visualization" tabs and click "OK".

"Common" tab

Common tab Common tab

Number

Item name

Descriptions

1

Name

Name the Gann fan.

2

Description

The description of the Gann fan can be displayed on the chart.
Related article: Show or hide items on chart

3

Style

Set the color, line type, and line thickness for the Gann fan.

4

Draw object as background

Check this box if you want to place the Gann fan behind the chart.

5

Disable selection

Check this box if you want to disable the editing of the Gann fan.

"Parameters" tab

Parameters tab Parameters tab

Number

Item name

Descriptions

1

Starting point position

Specify the starting point position by date and price.

2

End point of the period

Specify the end point position by date.

3

Pips per bar

Adjust the angle of the Gann fan. Enter the value of the pips for the period divided by candlesticks.

4

Downtrend

Check this box when you want to use Gann fan at downtrends.

"Visualization" tab

On the "Visualization" tab, you can specify the timeframes to use the Gann fan with.

On the Visualization tab, you can specify the timeframes to use the Gann fan with On the Visualization tab, you can specify the timeframes to use the Gann fan with
knowledge 28 trading rules

Among Gann's numerous publications, "Gann's 28 Trading Rules" is one of the most famous ones. It states various rules about asset management such as "Never risk more than 10% of your trading capital in a single trade" and "Always use stop-loss orders and never cancel them after you have placed the trade". Although Gann has left us numerous publications, there is no one definitive view on Gann's theory. To this day, there are still many different views on the subject.


Date

Created

 : 2022.09.06

Update

Last updated

 : 2022.11.02

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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