Placing Gann Lines on Crude Oil Charts on MT4 Platform

The Gann Lines is the fourth option in the Insert Menu within the MT4 Oil Software. The Gann Lines Button Key is used to place Gann Lines on Crude Trading Charts & it's illustrated below.

Drawing Gann Lines in MetaTrader 4 Oil Candlestick Charts

Gann Line

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

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

How to Draw Gann Line in MetaTrader 4 Software

Gann Fan

The Gann Fan is drawn between two points, this indicator will draw a set of oil trend lines, these oil trend lines are drawn at different angles, This Fan will draw the middle line at an angle of 45 degrees as long as crude oil price is above this 45 degrees line then the momentum of the upward oil trend will continue as shown below. If crude oil price moves below this line in an upwards oil trend the upward oil trend momentum may be reducing.

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

Examples of Gann Fan on upwards trend:

Gann Fan on MT4 Oil Candlestick Charts

Gann Grid

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

Drawing Grids on MT4 Oil Candlestick Charts