MT5 Gann Fans and Fibonacci Indicators – Free Download [TradingFinder] – MetaTrader 5 Resources

The Gann Fan and Fibonacci indicator is an advanced technical analysis tool that identifies sensitive price and time zones by combining dynamic Gann angles with Fibonacci retracement ratios.

Rather than relying solely on price data, this tool examines the geometry of the market in both the time and price dimensions. When levels and angles overlap, it creates an area suitable for entering buy and sell trades.

Gann Fans and Fibonacci Indicators Chart

The general characteristics of Gann Fans and Fibonacci indicators are shown in the table below:

Gann Fans and Fibonacci at a Glance

In MetaTrader 5, the Gann Fan and Fibonacci indicators work by combining Gann angles with Fibonacci retracement levels .

The Gann diagonal represents the relationship between time and price. Fibonacci levels are shown as horizontal lines that indicate potential retracement or trend continuation points.

When these two instruments intersect in a specific area, a potential trade entry area is created.

Indicators are in an upward trend

The chart below shows the CHF/JPY currency pair on a 30-minute time frame. In an uptrend, a buy signal is confirmed when the price touches one of the Gann support lines and simultaneously aligns with the Fibonacci retracement levels.

This overlap highlights important areas where the probability of price reversal is high. If the price reacts upward within this area, it can be considered a valid entry point for a buy position.

Indicators are in a downward trend

The chart below shows the Dow Jones Industrial Average (DJI) on the 4-hour time frame.

In a downtrend, a sell signal is generated when price touches the Gann resistance line and coincides with important Fibonacci retracement levels.

This crossover indicates the presence of an area of ​​high pressure and the increased likelihood of a downward price reversal.

Gann Fan and Fibonacci Indicator Setup

The settings panel of Gann Fan and Fibonacci indicators is shown in the figure below:

ZIGZAG SETTING

• ZigZag Depth : Zigzag depth
• ZigZag Deviation : Zigzag deviation
• ZigZag Backstep : Zigzag backstep
• Maximum Bars : Maximum number of candles to analyze

FIBO RETRACEMENT

• Show Retracement : Shows Fibonacci retracement levels
• Levels Style : Line style
• Levels Color : Fibonacci horizontal line color
• Levels Width : Fibonacci line thickness
• Level 0 : 0% level
• Level 38.2 : 38.2% retracement
• Level 50: 50% retracement
• Level 61.8 : 61.8% retracement
• Level 100 : 100% level
• Extra Levels : 14.6%, 23.6%, 76.4%, 88.6%, 127.2%
• Level 14.6 : 14.6% retracement
• Level 23.6 : 23.6% retracement
• Level 76.4 : 76.4% retracement
• Level 88.6 : 88.6% retracement
• Level 127.2 : 127.2% extension
• Show Prices : Display price values ​​at the level

FIBO FAN

• Show Fan : Display Fibonacci fan lines
• Fan Color : Fan line color
• Fan Style : Fan line style
• Fan Width : Fan line thickness
• Level 38.2 : 38.2% fan angle
• Level 50 : 50% fan angle
• Level 61.8 : 61.8% fan angle
• Show Extra Levels : 14.6%, 23.6%, 76.4%
• Level 14.6 : 14.6% fan angle
• Level 23.6 : 23.6% fan angle
• Level 76.4 : 76.4% fan angle

Conclusion

The Gann Fan and Fibonacci Indicator combines Gann angles and Fibonacci retracement levels into a powerful tool for identifying important indicator support and resistance levels and price reversal areas.

By analyzing time and price ratios simultaneously, it can pinpoint areas where the likelihood of a market reaction is higher.