Gann Fan

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The Gann Fan was developed by the famous trader W. D. Gann who applied a combination of mathematical and geometric principles to trading. He presupposed that there is a specific relationship between price and time that is some unit of price equals some unit of time.

A Gann Fan is an analytical drawing tool used to indicate time and price movements from important highs and lows and identify price breakouts.

To create a Gann Fan the middle line of time relative to price is drawn through two selected points. The first point is the one from which a series of angled lines extends. And the second point is drawn to the right of the first and determines the rate of equivalence between time and price. The middle line can be of any angle. The middle line which has a 45-degree angle is known as the 1x1 price/time line. That is the price unit equals the time unit, so price and time are in perfect balance.

The angled lines drawn from the first point indicate a price to time relationship that may be relatively fast or relatively slow, depending on the size of the Gann angle.

These angled lines, relative to an assumed horizontal line and the middle line, subdivide this horizontal line into eighths (or thirds).

The direction of a Gann Fan should depend on the current trend. To evaluate an upward trend, the Gann Fan should be drawn upward to the right, starting at a market low. To evaluate a downward trend, the Gann Fan should be drawn down from the right, starting at a market high.


Inserting Gann Fan

  1. Select one of three ways to insert the Gann Fan:
    • In the menu select Insert, point to Drawing and then to Gann Tools and click Gann Fan.
    • Click the Gann Fan Drawing GannFan.png icon on the Drawing toolbar.
    • Click the arrow next to the Drawing Tools Show Hide Drawing Tools.png icon on the Main toolbar, point to Gann Tools and select Gann Fan.
  2. The cursor will change to the Gann fan GF pointer.gif .
  3. In the Chart Area click where the Gann Fan is to begin.
  4. Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Gann Fan.
  5. Release the button.


Moving Gann Fan

To move a Gann Fan without changing its shape:

  1. Point the cursor at the Gann Fan that is to be moved.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Then keeping the left mouse button pressed drag the drawing tool to the desired position.
  4. Release the button.


Reshaping Gann Fan

To reshape a Gann Fan (change its middle line slope or distance between the fan lines):

  1. Point the cursor at the Gann Fan that is to be reshaped.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Left-click the Gann Fan and 2 small squares will appear on the middle line.
  4. Drag one of these squares till the drawing tool becomes of the desired shape.
  5. Release the button.


Formatting Gann Fan

In MultiCharts one can change the settings of the Gann Fan. All the changes are performed in the Format Gann Fan window.

Each instance of a Gann Fan has its own Format window. The number (if there are 2 or more Gann fan instances in the same Chart Window) are shown in the titlebar of each Format Gann Fan window.

One can change the settings of the Gann Fan: the color, style and weight of the fan lines. One can select the time/price relationship on which the fan lines are based. One can also choose to show or not the labels (price or/and value), select their font, style, size and the character set. It is possible to apply the strikeout or underline effects to the labels. It is possible to specify the time and price coordinates.


Setting Style

  1. Access the Format Gann Fan window.
    To access the Format Gann Fan window:
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Gann Fan'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Gann fan instance that is to be formatted and press the Format… button.
  2. Select the Data tab.
  3. To display or hide any elements of the Gann Fan check or uncheck the corresponding check boxes.
  4. In the Color column, using the drop-down lists, select any of the preset 40 colors for the fan lines or click the Others… button to select the custom colors.
  5. In the Style column, using the drop-down lists, select the desired styles for the fan lines.
  6. In the Weight column, using the drop-down lists, select the desired weights for the fan lines.
  7. Check the Use as Default check box to use these settings as the default settings when creating other Gann Fans.
  8. Click OK.


Setting Labels

  1. Access the Format Gann Fan window.
    To access the Format Gann Fan window:
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Gann Fan'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Gann fan instance that is to be formatted and press the Format… button.
  2. Select the Labels tab.
  3. Check or uncheck the Show Labels check box to display or hide the labels.
  4. Enter the desired font in the Font field or select it from the Font list.
  5. Enter the desired font style in the Font Style field or select it from the Font Style list.
  6. Enter the desired font size in the Size field or select it from the Size list.
  7. In the Effects group check or uncheck the Strikeout or/and Underline check boxes to display the labels struck out or/and underlined.
  8. From the Character Set drop-down list select the desired character set.
  9. Check the Use as Default check box to use these settings as the default settings when creating other Gann Fans.
  10. Click OK.


Setting Coordinates Precisely

  1. Access the Format Gann Fan window.
    To access the Format Gann Fan window:
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Gann fan instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Gann Fan'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Gann fan instance that is to be formatted and press the Format… button.
  2. Select the Properties tab.
  3. In the Coordinates section enter the desired time coordinates in the Start Date and End Date fields or use the drop-down calendars.
  4. In the Coordinates section enter the desired price coordinate of the origin point of the Gann Fan in the Start Value field.
  5. In the Coordinates section enter the desired points number in the Points per Bar field.
    Note. The price points per bar multiplied by the price is used to calculate the Price/Time Gann Lines as it determines how much the lines increase for each bar.
  6. Click OK.


Cloning Gann Fan

To clone a Gann Fan:

  1. Drag the cursor to the Gann Fan that is to be cloned.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
  3. Select Clone Drawing from the shortcut menu.