Gann Tools

Hi,
is any one familiar with Gann line, fan, and grid?
i looked it up on MQL4 community but i didn’t understand it :confused:
can any one help explain them?

Thank you :slight_smile:

Never used them but the webpages below may help.

The Gann Studies

How To Use Gann Indicators

Thank you daydreamer65, I’ll check out :smiley:

Hi Jado,

I use mainly Gann Fan. It fans out from significant top or bottom. The fan lines act as resistance or support, and prices tend to bounce off these areas. To use Gann, you need to make sure your scale is set to 1:1. If you’re using MT4, go Charts>Properties>Click “Scale fix One to One”. To have a Gann that fans up, set parameter to “1”. To have one that fans down, set as “-1”.

As your question is very broad in nature, i will encourage you to visit your nearest library and borrow a book on Gann. You will appreciate the detailed information and examples presented in those books.

Happy trading.

I started a thread asking about Gann angles and software. I think the problem with software tools and Gann angles is that according to some experts on Gann, the lines may not line up the same in each time frame. A hourly may not show up the same as a daily, a daily may not show up the same as a weekly and so on. I haven’t tried Gann angles yet, but I will since I use MT4, if Oanda has it in there software. At the moment I use Oanda. According to Gann the angles must line up in all time frames. If you stretch the chart in the area where the angle is it may not line up correctly with other time frames and that would make the angle worthless.