Gann Fan and Fibonacci Indicator for MT5 – Free Download [TradingFinder]

The Gann Fan and Fibonacci Indicator is an advanced tool in technical analysis that, by combining dynamic Gann angles with Fibonacci retracement ratios, enables the identification of sensitive price and time zones.

Instead of relying solely on price data, this tool examines the geometric structure of the market in both time and price dimensions. When levels and angles overlap, it creates a zone suitable for entering buy and sell trades.

Gann Fan and Fibonacci Indicator Table

General features of the Gann Fan and Fibonacci Indicator are presented in the table below:

Gann Fan and Fibonacci at a Glance

In MetaTrader 5, the Gann Fan and Fibonacci Indicator identify key support, resistance, and price reversal zones by combining Gann angles with Fibonacci retracement levels.

Gann diagonal lines represent the relationship between time and price. Fibonacci levels, shown as horizontal lines, indicate potential retracement or trend continuation points.

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

Indicator in an Uptrend

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

This overlap highlights a significant area with a high probability of price reversal. If the price reacts upward in this zone, it can be considered a valid entry point for buy positions.

Indicator in a Downtrend

The chart below shows the Dow Jones Index (DJI) on the 4-hour timeframe.

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

This intersection indicates a high-tension area with an increased probability of a downward price reversal.

Gann Fan and Fibonacci Indicator Settings

Settings panel of the Gann Fan and Fibonacci Indicator is shown in the image 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: Display Fibonacci retracement levels
• Levels Style: Line style
• Levels Color: Fibonacci level 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 on the levels

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 significant support and resistance Level, and price reversal areas.

By simultaneously analyzing time and price ratios, it pinpoints zones with a high probability of market reaction.