Placing Gann Lines on Charts in MT5

Gann Lines is the 4th option on Insert Menu within the MetaTrader 5 Software. The Gann Lines Button Key is used to place Gann Lines on Charts & it is displayed below.

Drawing Gann Lines in MT5 Candle Charts

Gann Line

Gann Line is similar to a trend line and to draw this trend line a trader must choose 2 points & draw this line between these two point, just like the trend line the Gann line is also used to show 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 on MT5

Gann Fan

The Gann Fan is drawn between 2 points, this technical indicator will draw a set of trend-lines, these trend lines are plotted 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 illustrated & shown below. If price moves below this line in an upward trend the up-ward trend momentum might be reducing.

The Gann Fan is also drawn for a down-wards trend & the same analysis applied to the down-wards direction.

Examples of Gann Fan on upwards trend:

Gann Fan in MT5 Candle Charts

Gann Grid

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

Drawing Grids in MT5 Candle Charts