Gann Angels (MT5)
Gann Angles indicator calculates and displays Gann support and angular resistance lines. Monthly, weekly and daily lines are shown.
Gann lines are provided in the terminal, however, their manual construction takes time, and the line angle depends on the current timeframe. Gann Angles indicator has no such drawbacks – it does not rely on a timeframe and can automatically calculate and display Gann angular lines.
William Gann is an American trader who developed the technical analysis tools known as Gann angles, as well as other analytical methods (Square of 9, Circle of 360). Gann's forecasting strategy was based on methods applied in geometry, astronomy, astrology, and ancient mathematics. Gann also wrote several books on stock trading. He performed his first transactions in 1902 when he was 24.
Gann angles are the tools of forecasting support and resistance levels.
Gann Angels Settings:
- Showmonthly levels – show/hide monthly levels;
- Show weekly levels – show/hide weekly levels;
- Show daily levels – show/hide daily levels;
- The maximum number of bars – maximum number of bars in history the indicator levels are displayed for. The parameter is used to save computational resources. 0 – display for the entire history.