What it is
W.D. Gann believed price and time were linked, and that the angle of a move showed its strength. The 1x1 line, one unit of price for one unit of time, is the balance point. Steeper lines show faster moves; flatter lines show slower ones.
Because the angle depends on chart scale, the unit per bar setting fixes how steep the 1x1 is. WickSpeak anchors the fan on the second most recent swing and fans it in the direction of the last move.
How it is calculated
1. Find the swings using the swing size setting and take the second most recent swing as the anchor. 2. Set one unit as 0.35% of the anchor price (the unit per bar setting). 3. Draw the 1x1 line rising (or falling) one unit per bar from the anchor. 4. Draw the other lines at fractions and multiples of that: 1x2 rises half a unit per bar, 2x1 two units per bar, and so on to 1x8 and 8x1. 5. Extend the lines forward past the latest candle.
Settings
| Setting | Default | Range | What it changes |
|---|---|---|---|
| swing size | auto | auto, or a fixed 0.25%, 0.5%, 1%, 2%, 3%, 5%, 8%, 12% or 20% | How big a move must be to count as a swing. It decides the anchor point. |
| unit per bar % | 0.35 | 0.01 to 5 | The price unit per bar for the 1x1 line, as a percentage of price. Raise it for steeper angles on fast moving charts. |
How to read it
How to trade it
- 1
Anchor the fan on the swing low of an uptrend on gold 4 hour.
- 2
Entry trigger: price pulls back to the 1x1 line and closes back above it.
- 3
Stop: below the next fan line down, or 10 to 20 points below the 1x1 on gold 4 hour.
- 4
Target: the last swing high, or 2 times the stop.
- 5
If price closes below the 1x1 and then cannot regain it, stop buying pullbacks.
A long off the 1x1 is proved wrong if price closes below the 1x1 and then below the next fan line under it.
WickSpeak draws the nine fan lines from the last swing, with the 1x1 highlighted, and writes a plain-English reading of where price sits against the angles, how to trade it and what would prove it wrong.
Best markets and timeframes
Gann fans suit 4 hour to daily charts of trending markets such as gold and US30. Adjust the unit per bar so the 1x1 roughly matches the market's normal pace.
Common mistakes
- Leaving the unit per bar at a value that does not suit the market, making every angle meaningless.
- Treating the lines as exact; price often overshoots.
- Using a fan in a sideways market, where angles have little to say.
Works well with
Questions traders ask
What is the 1x1 Gann angle?
It is the line that moves one unit of price per unit of time, often called the 45 degree line. Gann saw it as the balance between price and time.
Why does the Gann fan look different on different charts?
Angles depend on how much price a bar is worth on the chart's scale. WickSpeak fixes that with the unit per bar setting, 0.35% of price by default.
How do you trade the Gann fan?
In an uptrend, buy pullbacks that hold above the 1x1 line, with a stop below the next line. A close below the 1x1 suggests the trend is weakening.
Does WickSpeak draw the Square of Nine?
No. This tool draws the Gann fan angles from the last swing.