Gann Line

Last modified 13:04, 19 Oct 2012

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 Line

The Gann Line tool will draw a single angle rising or descending at a constant rate of price to time. This rate can be tailored to each user's exact specifications.

The Gann Line tool can be applied to all markets and should be placed on major tops, for long price formations, and major bottoms for short markets. The geometric angles formed by the Gann Line often act as support and resistance in the markets.

Move the cursor over the point you would like the line to start from, left mouse-click to anchor the beginning of the line in place. Then move the cursor using a circular motion around that point to determine the Direction of the Gann Line (Forward and Up/Down, or Backward and Up/Down), left mouse-click a second time to set the Gann Line in place.

The default settings for the Gann Line tool is a 1 x 1 line.

Your SOFTWARE utilizes the symbol's price data to determine the value of 1 unit, or tick, in price.

The following line has been set to 10:15 or 1x1.5:

gannlinesmall.gif

Adjust Line Settings

Right mouse-click on the line and select Gann Line Properties from the pop-up menu. The following parameters can be adjusted:

Start Date / Start Value

Precise positioning of the initial box using the cursor is difficult because the cursor does not snap to any particular points.

Enter the exact coordinates of the beginning point of the line.

Periods

This setting will determine the number of time periods covered for each defined unit of price.

Points

Set the precise number of points that the line will rise for each specified period of time or bars.

Fractional Settings

The Gann Line tool will allow you to set the rate of price to time outside the boundaries of 1x1, 1x2, 2x1 etc. which operate only using whole numbers. Create a fraction by entering a number of point which does not equally divide the number of periods, for instance a rate of 1 to 1.5 is created by setting 10 Periods and 15 Points.

Direction

Use the Direction parameter's drop-down menu to select from Forward and Up/Down or Backwards and Up/Down. The line will be redraw at each selection.

Appearance

Allows you to change the appearance of the displayed Gann Line to suit your personal preference.

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