Setting Gann Lines on Charts in MT4

The Gann Lines is the fourth option on Insert Menu within the MT4 Software. The Gann Lines Button is used to place Gann Lines on the Charts and it is displayed below.

Drawing Gann Lines in MetaTrader 4 Candle Charts

Gann Line

The 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 market trend.

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

How Do I Draw Gann Line on MT4

Gann Fan

The Gann Fan is plotted between 2 points, this indicator will draw a set of 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 & illustrated below. If price moves below this line in an upward trend the upward trend momentum might be reducing.

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

Example of Gann Fan on upwards trend:

Gann Fan in MetaTrader 4 Candle Charts

Gann Grid

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

Drawing Grids in MetaTrader 4 Candle Charts