W.D. Gann was perhaps the most famous traders of all the traders of its time. His legacy to the trading community is so big, and unfortunately so confused, that keeps the intrigue developing from one generation of traders to another. I am using the word confusing because a good part of his work is lost and that keeps traders keep looking for the “secrets” of his greatness. He was an active trader/researcher, innovator, and his went back in history searching for price history of the things he traded in order to use the date for projecting future price movements.
Gann was the first one to introduce the time element into the trading concept. He actually believed that time should be treated with the same attention like price when trading. The concept of price and time treated together for forecasting a price of a security was from that moment the holly grail of trading. Not only forecasting a price, but saying when it is more probable to happen has become the dream quest for all traders.
On the recording to accompany this sub-chapter I will introduce to you the features the Metatrader offers regarding trading with Gann tools. They are not used but most of the traders because before using such tools one needs to have a full comprehension about what they mean and what to look for when applying them. Therefore I strongly recommend for you to read first the two book recommendation I have for this chapter, try to understand the concept , and then go and search for yourself the 1×1 line.
Gann believed that each security, equity, commodity, currency pair, etc, has its own unique way of developing. So the main move of each of the above it is supposed to be given by the 1×1 line.
Gann Masters – Technical Analysis Course, Halliker’s, Inc;
Gerald Marisch, The W.D. Gann Method of Trading, 1990