IQ FX Gann Levels - User Manual (Intraquotes Product)

Overview

IQ FX Gann Levels is a precision intraday trading indicator based on W.D. Gann’s square-root methods. It plots real-time, non-repainting support and resistance levels that help traders identify high-quality intraday setups with accuracy. Designed for both intermediate and experienced traders, the indicator updates levels dynamically as the market moves and offers two models: Alpha and Beta, combined with flexible scaling options. With simple configuration, an intuitive dashboard, and highly reliable Gann calculations, this tool helps traders plan entries, exits, and trade management with confidence.

© 2025 Intraquotes.

Installation and Setup

1. Open MetaTrader → Toolbox → Market → Purchased

2. Install the indicator

3. Open Navigator → Market → Drag & drop onto your chart

4. Follow the plotted levels for informed trading

List of Supported Symbols

How Does the Indicator Work? (Practical Usage Guide)

1. Major Levels for Intraday Trades

• Treat Major levels as strong reaction zones.

• Look for price exhaustion, reversal candles, or momentum breaks at these levels.
  
  

2. Minor Levels for Scalping or Refinement

• Minor levels help identify micro-pullbacks, continuation zones, or refine entries around Major levels. Preferred by traders for scalping stop-loss and take profit targets.
  
  

3. Combine Model + Scale for Market Conditions

• Stable/Sideways Market:
  Use Alpha + Base/Low for cleaner levels.
  
  

• Volatile Market / News Events:
  Use Beta + High for more adaptive levels.
  
  

4. Use Past Gann Levels to Understand Market Memory

• Gann levels of past hours show where liquidity or reaction has occurred earlier for that particular day.

• Repeat tests of these zones often create high-probability setups.
  
  

5. Day Open Line (Optional)

• Helps gauge bullish/bearish intraday sentiment.

• Price above Day Open generally signals bullish bias and vice versa.

🎁 BONUS

Trade Setup Flow (Simple Framework)

1. Identify price reactions at Gann support & resistance levels.

2. Wait for the price to approach a Major or refined Minor Levels before you enter.

3. Observe candlestick behaviour or volatility shift near the Gann levels.

4. Enter with a small stop-loss slightly beyond/below the Gann level (depends on your trade entry type).

5. Use the next Gann level as your take-profit target.

6. Consider a trailing stop as the price moves in your favour, and take this opportunity to move your take profit to the next Gann Level.

Indicator Customization 

Display Settings

• Show Minor Levels: Enable/disable Minor Gann levels (feature widely used by Intraday traders, who focus mainly on the Gann Major Levels).

• Show Day Open Level: Enable/disable the Day Open line.
  
  

Alert Settings

• Alert: Turn terminal alerts on (true) or off (false).

• Mobile Push Notification: Enables push notifications to the MetaTrader mobile app.

Dashboard Setup

• Dashboard Corner Position Selection: Left upper, left lower, right upper, or right lower corners.

• X/Y Offset Adjustment: Adjust horizontal (X) and vertical (Y) offsets from 0–500 to fine-tune the dashboard placement.

Color Settings

• Support Color: Change colour for support levels.

• Resistance Color: Change colour for resistance levels.

• Day Open Color: Customise the color of the Day Open price level.

Dashboard Customisation

Model Selection (Dashboard Buttons)

• Alpha Model: Fixed reference points.

• Beta Model: Dynamic levels tuned for volatility.
  
  

Scale Selection (Low, Base, High)

• Controls the sensitivity of Minor levels.

• Choose based on trading style and market volatility conditions.

Can I use other indicators with IQ FX Gann Levels?

Yes, of course! You can use other indicators along with the IQ FX Gann Levels to improve your entries and exits even more during your day trading. Indicators like Hydra Trend Rider and Volatility Master are built to work seamlessly with this IQ FX Gann Levels for following a trend, setting a target, avoiding a range market, and deciding an entry and exit for your trade with ease. The Hydra Trend Rider & the IQ FX GANN LEVELS is the best combo you can get out there for your trading journey.
Here's a blog post where we shared a step-by-step guide on how to combine these 3 indicators for a profitable trade-entry.

Follow our official MQL5 channel to stay updated as we share live market insight and new articles on trading ideas using these indicators on a daily basis. 

Money Management

You must have a proper risk-reward ratio for your trade. Ideally, a 1:2 ratio is considered to be healthy and standard in the portfolio. For sweet point entry, stop loss is set very close to the entry point, and the target is set very far (R/R ratio may even go up to 1:4 in this type of scenario). Remember, never risk more than your take profit. 

If the target is 30 pips. Make sure to keep the Stop loss around 10-15 pips (max not more than that) with the swing high and swing low bar.  The best is to use a good forex broker who gives the lowest spread and lowest commission (for example, an ECN account). 

For sweet point entries, a low spread will give you a good edge with your risk-reward ratio. If properly used, this indicator can generate consistent profits.

How to set Metatrader price alerts with these levels?

Move the mouse cursor near the level where you want to set an alert. Then right-click. From right-click below ‘Trading’ -> then click on ‘Alert’. Automatically, alerts will get added to that level. 

Modifying alert

You can modify this alert from Terminal --> Alert Tab at the bottom. You can also set a mobile push notification from the ‘action’ option. Select Notification for mobile alert. 

Note: To receive the mobile notification, you need to complete the setup from the Metatrader settings to activate mobile notifications. If you use the Metatrader app on mobile. Then you can also set up alerts the same way in the mobile app to get notifications anytime. No extra settings are required, like on the desktop.

Check our MetaTrader alert post for more details.

How to do visual backtesting with IQ FX Gann Levels?

Downloading the History Center Data

Step 1: Download the entire history center database first. Press the shortcut key F2 to access the History Center.

Step 2: Click on the download button.

Step 3: After the download completes, close and restart the MetaTrader.

Starting the visual backtesting

Step 1: Press Control + R to open Strategy Tester, or from the View menu, click on Strategy Tester.

Step 2: Select a Symbol from the symbol drop-down.

Step 3: Select IQ FX Gann Levels Indicator from the Indicator drop-down. (You can find it in the Market folder.)

Step 4: Select Model to (Open Price Only) for faster backtesting.

Step 5: Select the Date From to End and tick Use Date.

Step 6: Tick on Visual mode.

Step 7: Select Period to M1 or M5.

Step 8: Keep the spread selected as Current.

Step 9: Click on the start button to start visual backtesting.

Note: It might take some time initially to load the data and test the data with the indicator.

FAQs

1. Does the indicator repaint?

No. Levels do not repaint. They only adjust when true market-driven recalculations occur.

2. Is there any trial option?

Yes. A free demo version is available on the MQL5 marketplace.

3. Can it be used for backtesting?

Yes. You may download the demo and run Strategy Tester. Procedure explained above.

4. Does it work with EAs?

The indicator does not provide buffer output for automatic EA integration.

8. What should I do if levels do not appear?

Check terminal alerts, ensure Market data feed is active, and verify correct installation.