Setting Gann Lines on Charts in MT4

The Gann Lines is the 4th option on Insert Menu within the MT4 Trading Software. The Gann Lines Button is used to place Gann Lines on the Charts and it's displayed below.

Drawing Gann Lines on MT4 Candle Charts

Gann Line

The Gann Line is similar to a indices trend line and to draw this trend line a trader must choose 2 points & draw this line between these 2 point, just like the trend line the Gann line is also used to show the market trend.

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

How Do I Draw Gann Line in MT4

Gann Fan

The Gann Fan is plotted between 2 points, this indicator will draw a set of trendlines, these trendlines are plotted at different angles, This Fan will draw the middle line at an angle of 45 degrees as long as stock trading price is above this 45 degrees line then the momentum of the upward trend will continue as illustrated below. If stock trading price moves below this line in an upward indices trend the up-ward trend momentum may be reducing.

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

Example of Gann Fan on upwards trend:

Gann Fan on MT4 Candle Charts

Gann Grid

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

Drawing Grids on MT4 Candle Charts