Gann Swings XVI Indicator

Gann Swings XVI Indicator

Gann Swings XVI Indicator For MT4 identifies major price trends and provides profitable forex buy and sell swing trading signals

The GANN Swings XVI indicator for MT4 eliminates the short term trend changes of a currency pair and identifies major price trends. In effect, traders can identify major price trends and make fewer, more profitable trades. Swing traders benefit the most from automatically plotted Gann lines of this indicator.

New forex traders should have some basic understanding of Gann Lines and identify the higher highs and lower lows. Advanced traders will find it easy to plot the entry signals and buy and sell accordingly. Additionally, the indictor works on all chart time frames, but higher time frames provide better swing trades.

Gann Swings XVI Indicator For MT4 Trading Signals

The Pink and Aqua dots plotted on the price charts provide forex trading signals. The trading strategy has two conditions with regard to trend direction and the dot color. Traders should first identify the trend direction using higher highs and higher lows or lower lows and lower highs.

Price should make higher highs and higher lows indicating an existing uptrend. Furthermore, if there is Aqua dots while price makes higher highs it indicates a bullish swing trading signal. Traders should consider entering the market with a buy trade and have a stop loss below the previous swing low.

Similarly, in a downtrend the price should make lower lows and lower highs. Additionally, if the indicator plots pink dots and makes lower lows traders should enter a sell trade.
The indicator does not provide a profit target, since it’s a swing trade traders should consider holding the trades to get maximum profit.

Conclusion
In summary, the Gann Swings Indicator for MT4 is an essential tool for forex traders using Gann theory for technical analysis and trading strategies.