Placing Gann Lines on Charts on MT4 Platform

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

Drawing Gann Lines in MetaTrader 4 Candlestick Charts

Gann Line

The Gann Line is similar to a trend line & to draw this trend line a trader must select 2 points & draw this line between these two point, just like the trendline 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 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 below. If crude price moves below this line in an up-wards trend the upward trend momentum may be reducing.

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

Examples of Gann Fan on upwards trend:

Gann Fan on MT4 Candlestick 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, crude traders can then use these grids for analyzing price movement.

Drawing Grids on MT4 Candlestick Charts