Support Board
Date/Time: Thu, 31 Oct 2024 12:18:53 +0000
GANN FAN TOOL
View Count: 3533
| [2015-03-08 14:50:34] |
| michelh - Posts: 159 |
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Dear SC, I would like to request that the Gann fan tool be made to function more like the Fibonnacii fan tool. I want to be able to pick a starting point and an end point and to have the standard geometric angles from the 2 points selected (i.e. the points defined would be the 1x1). The reasons are 2 fold: 1. the tick size is highly variable on various futures contracts. I sometimes find myself having to use ridiculous numbers like 4087 to get meaningful angles. 2. It is very difficult to square a range since one has to go to a calculator to get the price movement divided by the tick size divided by the time elapsed. If you modify the tool, it will become user friendly. to square a high, one could easily draw an angle by selecting a start and then moving 10 units out in time and 10 units out in time without worrying about tick size (0.005 in coffee futures for example which often requires some really ridculous numbers to get the desired angle. And even then, it is usually a little off) Also, squaring a range will become a dream since all one has to do is select the start and the end to define the 1x1. I love SC and do not want to change. I also do not want to have to get another package like MarketAnalyst just to do relatively simple Gann stuff like squares. The Gann Grid is also quite useless in its current form. It would be much easier to be able to select a start and end to construct a square. For example, for a square of 56 or 144 if you can allow me to mark 2 points on the chart and then use these for drawing the diamonds, that would be fantastic. Date Time Of Last Edit: 2015-03-08 16:53:22
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| [2015-03-09 17:03:08] |
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We will look this over.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2015-03-12 08:22:22] |
| KinsaleForex - Posts: 19 |
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I'm not sure if this is what the above user was saying but as an addition for the Gan Fann, i'd really like the ability to define an end point for the line. I'm using the gan fann to construct 45 degree trend lines on the P&F chart. It would be nice to have the ability to define the angle but then not have the line go on for infinity. I've attached a chart with a couple of examples. Being able to cut off/end the line at the circled points would be a huge benefit as the trend line has been broken at these points. I don't know if this is possible but i'd personally find this very beneficial. Thanks in advance. |
 12-03-2015_Trendlines_Sierra.png / V - Attached On 2015-03-12 08:20:32 UTC - Size: 101.98 KB - 482 views |
| [2015-03-12 12:18:05] |
| michelh - Posts: 159 |
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Hi Kinsale, that is not what I meant What I am requesting is to be able to pick the start point and end point on the tool - as with the the Fib fan tool. Points per tick is too variable and it is very frustrating when you can see exactly what you want to square right in front of you but cannot get the desired fan. Also, if they modify the fan grid to function in the same way, you could easily say move 144 in time and price from a prominent pivot and therefore also get natural squares on your chart. As for the lines going out to infinity, IMHO that is actually quite a useful feature since they might be respected well into the future. If they are not on your chart, you will not be able to see them and that could take away from your edge? I notice that Gann drew lines on his charts that stretched out many years into the future. |
| [2015-03-12 18:04:23] |
| michelh - Posts: 159 |
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Kinsale, you might be better off just drawing trendlines instead of using the Gann tool for your purposes. The Gann tool is to square price with time. But P&F doesn't represent time and is a different style of trading to Geometric/Gann. A range on a P&F could last for 5 days, 5 weeks or 5 months - there is no way to tell by looking at the chart. Just a thought. |
| [2015-03-13 08:00:49] |
| KinsaleForex - Posts: 19 |
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Hi michelh, thanks for addressing my question. Unfortunately I can't just use normal trend lines. Point and figure is supposed to be based on a square grid and have 45 degree trend lines. Seeing as the grid isn't square i'm using the gan fan to obtain 45 degree lines, as suggested by Sierra in a different thread. I understand that P&F doesn't represent time. I'm sure the lines going to infinity is useful for actually using Gann as a style of trading but when we're supposed to use it to just achieve these 45 degree lines (as I am) it's a little unhelpful to have them like this. I'm not saying to remove this feature, but to have the ability to expand the tool so that the user has the option. I'm adding and removing new lines all the time so It's far more useful to be able to draw the lines as shown in the attached image. Cheers, KF |
| 13-03-2015_Excel_Sierra.png / V - Attached On 2015-03-13 07:59:35 UTC - Size: 55.44 KB - 441 views |
| [2015-03-13 08:06:59] |
| michelh - Posts: 159 |
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Hi Kinsale, Yeah you are absolutely correct. I did read that Dorsey book on PF a couple of years ago and I do remember something about 1x1s on PF defining trend - should have thought about that before posting. I can see how it makes for a convenient tool even in PF. I was just thinking with my usual frames of reference. Happy trading! |
| [2015-03-13 08:10:08] |
| KinsaleForex - Posts: 19 |
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Hopefully Sierra can update it for both of us then. Like you said in the first post, I really like Sierra and this would essentially be the final piece to my trading puzzle to help me on my way. Happy trading to you too! |
| [2015-03-13 09:26:13] |
| michelh - Posts: 159 |
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Actually, after giving it some more thought, a possible solution would be to leave the tool as it is since it is handy for PF and for daily time frame and then adding another tool for squaring a range where the use can select a range like with the fibo fan tool.
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| [2015-04-14 03:45:09] |
| Al SC Developer - Posts: 434 |
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In the next version, the Gann fan and grid have new modes that allow the main Gann line to be set with the second mouse click. This new behavior is the default, but the old behavior is also maintained. Within the tool config, you can not specify how the Value Increment Per Bar is specified (used to be called Value Per Point). The options are to set the value from the second click, use the value from the config, or use the chart value. If you need to use both new and old behavior, then you can configure multiple tool configs and switch between them. The Gann Fan and Fib Fan can also now be cut at a specific bar (all lines are cut at same point). |
| [2015-04-14 13:09:35] |
| michelh - Posts: 159 |
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very much appreciated. I look forward to using this tool.
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| [2015-04-20 09:07:32] |
| KinsaleForex - Posts: 19 |
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I downloaded the prerelease today to give this a try. How do you cut the lines at a specific bar? I can't seem to find it. Thanks.
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| [2015-04-20 11:26:14] |
| Al SC Developer - Posts: 434 |
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The Cut Drawing Here command has to be added to your Chart Drawing Shortcut Menu. See http://www.sierrachart.com/index.php?page=doc/doc_Tools.html#CustomizingCDMenu
Date Time Of Last Edit: 2015-04-20 11:27:48
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