The Gann Fan Metatrader 4 Forex Robot is an expert advisor that mimics the Gann Fan on the chart and trades along with its trend.
The Gann Fan is based on the idea that the market is geometrical and cyclical in nature.
However, this expert advisor is not exclusively built off the Gann Fan indicator.
Two moving averages are also added to spice things up.
Price changes are spotted using support and resistance levels that are an integral part of the diagonal lines or Gann angles.
The Gann Fan forex robot deploys a set of logic that divides time and price into proportionate parts using the indefinite extension of each Gann angle.
Carrying out back testing on the Gann Fan expert advisor is only possible when deployed on open prices.
Strategy Tester Report
Find below the Gann Fan forex robot strategy tester report for the EUR/USD forex pair on the Daily chart.
The EA made a total profit of $15622.58 from a total of 242 trades. The largest winning trade generated $1984.65 in profits while the largest losing trade generated a loss of-$708.47.
Bars in test: 2587 ticks modelled
Initial deposit: $10000.00
Total net profit: $15622.58
Total trades: 242
Largest profit trade: $1984.65
Largest loss trade: -$708.47
Consecutive wins: 5
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: GANN_FAN length (bars), GANN_FAN color, Enable “no loss,” When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Gann Fan | Moving Average
Copy and paste the Gann Fan.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)