EURUSD 1.1736 USDJPY 112.01 USDCAD 1.2789 EURCZK 25.544 USDCZK 21.761 EURPLN 4.2291 USDPLN 3.6034
EURUSD 1.1736 USDJPY 112.01 USDCAD 1.2789 EURCZK 25.544 USDCZK 21.761 EURPLN 4.2291 USDPLN 3.6034

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Gann Fan is based on the theory that the relationship between time and prices follows certain patterns, and the tool is aimed at the separation of bullish from bearish prices

Rule of thumb

The Gann Fan is generally used to determine trends - general market directions and
potential support and resistance lines

The Gann Fan is one of the many techniques W.D. Gann developed to study price movements.

 

For the Gann Fan, it is required for charts to be drawn with equal time and price intervals, so that a price movement for each time interval equals a 45 degree angle. Gann believed that the ideal balance between time and price exists when prices move at a 45 degree angle, relative to the time axis.

 

gann fan, gann analysis

 

Based on Gann theories, the Gann Fan is made up of 9 trendlines, which function as  support and resistance lines. When a price breaks one line, it should move to another line. The most important line in the Gann Fan is the 1x1 trendline (based on the 45 degree Gann line). Depending on the price being above or below this line, it will indicate a bull  or bear market. Besides this major trendline, Gann indicates 8 other minor trendlines, with angles greater/less than 45 degrees (4 greater and 4 less than 45 degrees). These minor trendlines are 1x2, 1x3, 1x4, and 1x8.

 

How to use it with MetaTrader 5:

  • Select  either a bar chart Bar charts or candlestick chart Candlesticks.
  • Click the “Insert” option from the MetaTrader 5 menu and choose “Objects”, then “Gann”/”Gann Fan”.
  • With the left mouse button press and drag to the left.

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