Gann Retracement

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Gann Retracement

Gann Retracement is similar to Fibonacci Retracement in that it calculates pressure points, or levels of resistance, based on percentages of a range set by the user.

The Gann Retracement tool draws two parallel horizontal lines at two levels selected by the use. Using those price levels, there tool calculates and plots a number of resistance/retracement levels by drawing parallel horizontal lines a set percentage from either of the price lines.

Up to thirteen resistance/retracement levels can be set.

By default five levels are displayed: 0%, 25%, 50%, 75% and 100%.

These levels settings, as well as the number of levels displayed, can be changed and saved as your default setting for this tool.

Position and Edit

Select Gann Retracement from the palette, move the mouse cursor over the starting point on the chart.

Single left mouse click, then move the cursor to the end point and single left mouse click again. As the mouse cursor is moved from the first to the second point, the retracement levels will appear.

The tool output can be moved or resized using the common handles functionality.

The position of the lines can locked.

Using Gann Retracement Levels

Properties and Format

Use the variables on the Settings and Appearance tabs to adjust the vertical and horizontal positions, as well as alter the line color and style, this tool uses common tool functionality.

The lines can be extended in either direction.

Levels Settings

Click the Retracement Levels tab to set the value for up to thirteen levels within the sequence - turn off levels you do not need by clicking on the check mark to the level's left - and to reposition the labels.

Click Defaults to save the current settings as default or restore the standard settings. Refer to common functionality - Defaults for more information.

Pop-up Menu

The pop-up menu (single right mouse click) for Gann Retracement has the standard links: Properties, Cut, Copy, Delete, Lock and Help. It does not contain any special tools.

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