Gann Fan

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sitmicon34.gifThis content is provided in support of the Safety in the Market (SITM) module for Your SOFTWARE and may not be applicable to your package. For more information, go to the Modules topic of this help.

Gann Fan

The Gann Fan drawing tool is similar to the Gann Angle tool in that geometric lines will be drawn on your chart page for you automatically.

The Gann Fan will draw the full range of angles used in Gann theory from any point on the chart that you select.

The Gann Fan tool, as with the Gann Angle, should be placed on the more significant turning points. The Gann Fan will give you the full spectrum of angles, which helps with determining strength and weakness in the market, refer back to Chapter 5 of the Safety in the Market Video Series manual for more details.

Position and Edit

Moving the cursor over the point you would like the line to start from and left click.

Once the starting point has been set you can then move the cursor around that point to determine the direction of the Gann Fan, by left clicking a second time the Gann Fan is set in place.

psgannfan.gif

The default setting for the Gann Fan tool is the full spectrum of angles. Your SOFTWARE will default to using one tick to represent one point in price, just as with the Gann Angle when drawing a 1 x 1 line

Fan settings

Right click on any line and select Gann Fan Properties from the top of the pop-up menu to open the settings dialog box:

drawtool_gannfanprops.png

Start Date / Value

You can firstly adjust the price and date defining the start of the line. (Using the Fix Price option Your SOFTWARE will automatically place the starting point on the low or high of the day you are drawing angles from.)

Point Size

Your SOFTWARE will default to the tick value stored in the contract specifications, you can however change this for experimentation.

Direction

To change the direction of the angle from say up to down or forward to backwards simply click on the drop down arrow and select from the list.

Lines

Allows you to change the number of angles displayed in your Gann Fan and also to tailor the appearance of each to suit your needs. For example you may like to make the 1 x 1 line within the fan a different colour and weight so that it stands out from the rest. You may find that there are too many angles in the default option and by simply removing the tick from the list that angle will not appear. You can change the default settings here by clicking on the Default tab and choosing to save changes as the new default settings.

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