Gann Square 9 indicator MT4 Plots future resistance and support using GANN and Zigzag. This indicator forecast future currency moves through the use of angles.
What is Gann Indicator?
Gann indicator works based on Gann angles which are trading techniques developed by W.D. Gann. He used angles and various geometric constructions to divide time and price into proportionate parts.
Gann angle
It is a diagonal line that moves at a uniform rate of speed. A trendline is created by connecting bottoms to bottoms in the case of an uptrend and tops to tops in the case of a downtrend.
Gann Fan
Gann indicators are based on the notion that markets rotate from angle to angle, and when an angle is broken, the price moves towards the next one. Several angles together make up a Gann Fan.
Gann square 9 indicator
Gann square 9 indicator MT4 draws supports and resistance lines along with the price charts. Additionally, the indicator employs the traditional Zigzag Meta Trader indicator to identify the changes in trend.
When Zigzag confirms that the trend has changed, the indicator uses its Gann Sq 9 angle to sketch potential future trends. These lines function as future resistance and support in either the Bullish or Bearish direction of the trend. Therefore, forex traders who employ trend-following strategies can utilize this indicator to find the most profitable BUY and SELL entry points and potential future Reversal points.
Why is Gann square 9 indicator MT4 best for new traders?
The indicator uses price levels to determine the levels of support and resistance in the future and, therefore, the same levels will show up across every price chart. Thus, traders can utilize the indicator and watch price movements in the lower time frame close to the resistance and support levels to find the best entry locations.
This indicator is ideal for experienced and new forex traders. Forex traders who are new to the market can utilize the concept of GANN to determine the subsequent support and resistance levels and move stop losses to a current position. Additionally, the groups assist traders in identifying the Stop-loss and take-profit levels.
Gann square indicator trading setup
The above EURUSD H1 chart shows the Gann Sq 9 indicator in action. The hand draws the support levels in Green and resistance levels in Red on the price chart. Black lines show the direction of the trend. Moreover, it plots Level 0 as Gray and indicates the beginning of the trend.
Gann square 9 indicator MT4 inputs
Conclusion
Gann indicators are popular analysis and trading tools used to measure critical elements, such as pattern, price, and time. Moreover, the indicator is best suited for trend-following forex trading strategies. You can get Gann square 9 indicator MT4 free download here.
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Who knows how is work Gann´s Theory, this indicator will be the best. Thank you for it