Placing Gann Lines on BTCUSD Charts on MetaTrader 4

The Gann Lines is the fourth option in the Insert Menu within the MetaTrader 4 BTCUSD Platform. The Gann Lines Button is used to place Gann Lines on the Bitcoin Charts and it's shown below.

Drawing Gann Lines in MT4 Candlestick Bitcoin Charts

Gann Line

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

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

How Do I Draw Gann Line on MetaTrader 4

Gann Fan

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

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

Example of Gann Fan on upward trend:

Gann Fan in MT4 Candlestick Bitcoin Charts

Gann Grid

The Gann grid uses 2 points just like a bitcoin trendline to be plotted, once these two lines are plotted, this Grid tool indicator then will draw grids on the chart that are at an angle of 45 degrees, the traders can then use the grids for analyzing bitcoin price movement.

Drawing Grids in MT4 Candlestick Bitcoin Charts