Gann SQ 9 Indicator, Master Market Cycles with Gann
For MT4, the Gann Sq 9 indicator. employs GANN and ZigZAg to plot future support and resistance. top indications for entering and exiting forex trading.
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- Indicator Settings
Description
The WD GANN is the foundation of the Gann SQ 9 Indicator for MT4. In addition to drawing possible support and resistance lines on the price chart, it predicts the future price direction of currency pairs. Additionally, the indicator detects trend shifts by utilizing the traditional ZigZag MetaTrader indicator. The indicator uses the Gann SQ 9 Indicator angles to construct potential future trend lines when the Zigzag validates the trend change. In the event of a bullish or bearish trend, these trend lines serve as future support and resistance. The indicator can therefore be used by forex traders who employ trend-following methods to determine the optimal times to buy and sell as well as potential reversal points in the future.
The future support and resistance levels are determined by the indicator using price values, therefore all price charts will display the same levels. In order to find the ideal entry points, traders can use the indicator and search for price activity on the lower time frame close to the support and resistance levels. The indicator works best for both novice and seasoned forex traders. The GANN principle can be used by novice forex traders to move the stop losses for an existing position and determine future support and resistance. The levels also assist traders in determining take-profit and stop-loss levels. Forex traders can also easily install and download for free.
MT4 Trading Setup Gann SQ 9 Indicator
The Gann SQ 9 Indicator can be seen in action on the EURAUD H1 chart above. On the price chart, the indicator displays the resistance levels in red and the support levels in green. The trend’s direction is indicated by white lines. Additionally, it marks the start of the trend and depicts level 0 as gray.
Forex traders can enter a BUY trade if the Zigzag shows a BULLISH uptrend. The previous swing low is the ideal stop loss position, and forex traders might try to book profits at the next resistance level. Additionally, traders can trail their stop losses at the prior lower trend levels in order to ride the trend.
On the other hand, after Zigzag validates the bearish market trend, forex traders can use the GANN levels to set the take profit and stop loss levels and open a SELL position.
Conclusion
Using the concepts of GANN 9, the Gann SQ 9 Indicator for MT4 depicts the levels of future support and resistance. Furthermore, trend-following forex trading techniques are the indicator’s ideal fit. It can also be integrated into automated trading systems by forex technical traders. The indicator can also be easily installed and downloaded for free.
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Angle_up: Minimum angle needed to begin calculating a new uptrend.
Angle_dn: Minimum angle required to start a new downtrend.
Width: Thickness of the trend lines.
Style: Style of the trend lines.
Kol_lev: Number of levels shown on the price chart.
ResistanceColor: Color of the resistance lines.
SupportColor: Color of the support lines.
Level_0: Color for level 0.
Lev_V: Enables level V display.
Level_V: Color of level V.
Complect: Begins calculations from the end of the previous trend.
ExtDepth: Depth parameter for the classic Zigzag indicator calculation.
ExtDeviation: Deviation value for Zigzag calculation.
ExtBackstep: Backstep value used in Zigzag calculation.
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