Gann SQ9 SQ 9 Indicator
Gann Sq 9 indicator for MT4. Plots future support and resistance using GANN and ZigZAg.Best forex trading entry and exit signals.
CATEGORIES: MT4, SIGNAL, LEVELS, INFORMATIONAL
Updated on: 21.12.2023
The Gann Sq 9 indicator for MT4 is based on the principles of WD GANN. It forecasts the future price direction of forex pairs and draws potential support and resistance lines on the price chart. Moreover, the indicator uses the classic ZigZag MetaTrader indicator to identify the trend changes. Once the Zigzag confirms the trend change, the indicator applies the Gann Sq 9 angles to draw possible future trend lines. These trend lines act as future support and resistance in the Bullish or Bearish trend direction. As a result, forex traders using trend following strategies can use the indicator to identify the best BUY and SELL entry points and possible future reversal points.
The indicator uses price values to calculate the future support and resistance levels, so the same levels will be reflected in all price charts. So traders can apply the indicator and look for price action on the lower time frame near the support and resistance levels to identify the best entry points. The indicator is best suited for new and experienced forex traders. New forex traders can use the principle of GANN to identify the future support and resistance and move the stop losses for an existing position. Furthermore, the levels help the traders to identify take profit and stop-loss levels. Additionally, forex traders can download for free and install with ease.
Gann Sq 9 Indicator For MT4 Trading Setup
The above EURAUD H1 chart shows the Gann Sq 9 indicator in action. The indicator draws the support levels in Green and resistance levels in Red on the price chart. White lines show the direction of the trend. Moreover, it plots the level 0 as Gray and indicates the beginning of the trend.
If the Zigzag indicates a BULLISH uptrend forex traders can enter a BUY trade. The best stop loss position is the previous swing low and forex traders can look to book profits at the next available resistance. Moreover, traders can use a trailing stop loss and ride the trend by trailing the stop losses at the previous lower trend levels.
Oppositely, forex traders can enter a SELL position once Zigzag confirms the Bearish market trend and place the take profit and stop loss levels using the GANN levels.
Conclusion
The Gann Sq 9 indicator for MT4 plots the future support and resistance levels based on the principles of GANN 9. Moreover, the indicator is best suited for trend-following forex trading strategies. Furthermore, forex technical traders can incorporate it into automated trading systems. Additionally, the indicator is available for free download and installed with ease.
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