Square of the Range

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Square of the Range

The Square of the Range drawing tool employs the Gann technique of converting the range between a high and a low into a time frame. It does this through the use of two intersecting Gann Fans.

The tool employs Gann fan lines that are drawn from the high and low points of a range designated by the user.

The two fans point toward one another: the higher in a downward direction and the lower pointing in an upward direction. Their angled lines will intersect with each other's horizontal line drawn at the high and low price levels.

The points at which fan lines intersect with the horizontal lines can identify potential pressure dates. You can ‘Square' either a bull or bear range with this tool.

Position and Edit

Select a prominent high or low as an anchor point and left mouse-click, drag the cursor to the next prominent low or high end point of the range, and left mouse-click a second time.

Horizontal lines will be drawn for you automatically from the low and high price points, as will Gann fans extending out toward the other fan's horizontal price level, and a dotted line plotted between the two price points:

psdrwrtolsqrofrang.gif

The default settings of the fan lines are 1x2, 1x1 and 2x1 angles for both the high and low fans.

Both fans can be independently adjusted from the Square of the Range Properties dialog box:

drawtool_squarofrangprops.png

The Start Fan refers to the fan plotted from the position of the first mouse-click, the End Fan is the second. The display of the default lines, as well as a number of other lines, can be controlled from their respective tabs.

The display of the Horizontal price level lines and the dotted line that connects the two range points is controlled from the Appearance tabbed page.

The exact date and price of these Fans' start and end points can later be precisely adjusted using the controls on the Settings tabbed page.

Other parameters that can be changed in the Square of the Range Properties dialog box include the following:

Point Size

The default is the tick value stored in the symbol's specifications, you can change this for fine-tuning of your Square.

Locked

Once you have positioned your Square of Range fans in the precise location desired, select the Lock checkbox to lock the tool in place.

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