Gann Square Range
The Gann Square Range creates Gann Squares based upon a selected range on a chart. The square of a range is very similar to the squaring of the top or bottom (see Gann Square Top/Bottom), however, in squaring the range you must select two points in order to calculate the square.
In this example the time and price differences between the high at point A and low at B is 37 bars and 1219 points. The Gann Squares Range tool (with the Squaring Style property set to Price Time) then replicates those measurements, ie each 'square' is 37 bars wide and 1219 points high (the green dashed lines are the Halves Overlay).
Note that the squares can be calculated using the following Squaring Style of the selected range:
1. Price: The price difference between the two selected points as the time division between the start and end of the box, while maintaining the price range ie in the above example the square will be 1219 bars wide and 1219 point high using a Price Unit of 1 (change Price Unit to 10 for 121.9 bars).
2. Time: The time difference between the two selected points as the price division between the top and bottom of the box, while maintaining the time range ie 37 bars wide and 37 points high (change the Price Unit to 10 for 370 points high).
3. Price & Time: Simply duplicating the selected range in both price & time, as bove.
4. Inverse: The price difference between the two selected points as the time division between the start and end of the box and the time difference between the two selected points as the price division between the top and bottom of the box ie 37 points high and 1219 bars wide.
To add a Gann Square Range to a chart:
1. Select the tool from the Gann tool group. Your mouse pointer will change into a pencil.
2. Select the first value (the start of the range, typically a major top or bottom) by left-clicking on the chart.
3. Select the end point of the range. Your end point can be forward or backward in time, up or down in price, providing full control over how you draw the Gann Box onto your chart.
4. Move the mouse pointer up or down and to the right or left to create the required amount of Gann Squares.
5. Left-click on the chart again to finalise the creation of the Gann Squares.
Action & Properties
Add Line Alert: Creates an alert based on the selected line. Click here for more information on Line Alerts.
Add to Toolbar: Click this action to add the selected tool to your custom toolbar.
Apply Settings to All: When multiple Gann Square Ranges have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as changing colours - as this allows all the other Gann Square Ranges in the chart, page or entire workbook to be updated instantly.
Copy Data to Clipboard: Will copy the tool's values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Copy Tool: Allows the selected tool to be copied, which can then be pasted onto a different chart window.
Move to Back: If the lines of the tool are displaying in front of other tools or indicators clicking this action will move the lines view to the background.
Move to Front: If the lines of the tool are displaying behind other tools or indicators on the chart, clicking this action will bring the lines to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool's properties (such as the colour) you can save the adjustments as your new default setting. Each time you subsequently apply the tool to a chart it will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows for the name of the tool to be changed, as displayed in the Structure Panel.
Use Chart's Price Unit: By default, the price unit of the chart is used in the tool calculation. Untick the box to manually adjust the value in the Price Unit property.
Price Unit: This option is available when the Use Chart's Price Unit box is unticked (see above). Enter a new value to manually determine what one unit of price is equal to in the tool's calculation (eg 0.1). For more information, click here.
Boxes: Use this option to increase or decrease the number of squares up and down, and to the left and right of the range.
Factors: Used to scale the time interval or price so that it is in proportion to the scale. e.g. if the price range is $0.90 then to create 90 days/degrees/bars in time, a factor of 0.01 is entered here.
Harmonics: Used to divide the square both in time and price, independently, into smaller more appropriate squares. If a time harmonics setting of 4 is entered, 4 squares are displayed with the same price size as the original square, however, the time value is broken up into quarters based on the original square size for time. If a harmonic of 4 is entered in both price and time, 16 squares are drawn inside the original Gann Square.
Overlays: This option is used to divide the squares into thirds and/or eighths. When applied you are able to adjust the line styles, colours, and width in the drop-down box.
Gann Box Type: This determines how the squares are drawn. The options are Traditional, Empty Box, Crossed Box, or Full Gann Box.
Squaring Style: Changes the Gann Square Range squaring calculation based on Price, Time, Price & Time or Inverse. These options are outlined above.
Mirror: Tick the box to reverse the Gann Squares. This does not remove the original squares.
Line Styles: The Line Styles property allows you to adjust the type of lines, their width, and colours. There are 8 styles available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled. The line widths can be increased by moving the slider bar to the right and Stippled.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency.
Visible: Un-tick this checkbox to hide the tool from the chart.