A Gann square is a method of forecasting future support or resistance levels by counting forward from the all-time low or high price of an instrument. The all-time low or high price serves as an origin point. Each higher price increment is entered in a grid organized in a clockwise manner around the origin point, beginning one place to the left of the origin. The resulting formation resembles a square, the x and y axes of which are known as the cardinal-cross. Higher price increments that fall in the cardinal-cross are, according to Gann, the most likely future support or resistance levels. When you plot Gann Squares on a chart, the geometric formations can determine significant support and resistance levels. Gann Squares are defined by parameters you set in the Use the following steps to plot a Gann square. 1. Select Gann Square Options from the Trend Line Functions menu. Click your left mouse key. Highlight the selection and press 2. Type the origin of the Gann lines based on a date and/or time in the Begin Date & Time field, and then press 3. Type an origin price for the Gann lines in the Begin Price field and then press 4. Type the mesh size you wish to use in the Mesh Size field and then press 5. Type the number of time units you wish to use in the Time Units field, and then press 6. Type the vertical range in decimal format in the Price Units field and then press 7. Enable the grid types you want calculated. Click the left mouse key on the appropriate angle to turn it on or off. Highlight the appropriate field and press 8. Choose the angle origins you want to use. Click with the left mouse key in the UL (upper left corner), UR (upper right corner), LR (lower right corner), or LL (lower left corner) fields. Highlight the appropriate fields and press 9. Enable the angles for the Gann square. Click the appropriate fields with the left mouse key. Highlight the appropriate fields and then press You have the ability to enable each angle separately, or to enable all angles by selecting the All field. The following angles are available:Gann Square
Price | Time | Angle |
1 | 8 | 7.50 |
1 | 4 | 15.00 |
1 | 3 | 18.75 |
1 | 2 | 26.25 |
1 | 1 | 45.00 |
2 | 1 | 63.75 |
3 | 1 | 71.25 |
4 | 1 | 75.00 |
8 | 1 | 82.50 |
Click on the Done field with the left mouse key.
Highlight the Done field and press
b.11. Choose Define Gann Square from the Trendline Functions menu.
12. Place the cursor on the significant point on the chart from which you wish to generate the Gann Square.
Drag the mouse.
Press the arrow keys.
13. Draw the Gann square.
Click the left mouse key.
Press
b.The system renders a Gann square and angles according to the specifications you entered.