Gann Resistance Indicator

Gann Resistance indicator based on the construction of the "square Gunn," the levels of which are based on the price chart the horizontal lines at some distance from the current commodity price up or down, giving a target prices for opening and closing trading positions..

In theory, Gann square is constructed on the basis of a logarithmic spiral, in this case, an increase of 5 points or 50 points - for five-figure prices. In order to construct a square, take a lower extreme currency pair, and through this point draw two lines, both vertical and horizontal directions, then get some kind of a square divided into four parts, in the end you get a lot of price numbers, the horizontal level at which calculated with an increment of 5 (50) points up or down, depending on the direction of the trend.

An indicator:

tf - selected time frame:
1 - M1
2 - M5
3 - M15,
4 - M30
5 - H1
6 - H4
7 - D1,
8 - W1,
9 - MN;
pip - the number of items price increase, for the construction of price levels in the square.
With parameters should have no problems, since all the necessary description is present in this indicator.

In the archives of the indicators, which you can download at the end of this article contains not one but three indicators is, of course, the indicator Gann Resistance , version 2 and 3 , and an additional indicator to them "ZZ_FF" , the fourth version. The second version of the indicator Gann Resistance , draws the line on the graph of resistance, and a third version, respectively, the support line, but unfortunately both at the same version of the indicator on the chart will not be displayed, so you have to choose which lines are needed at the moment. The only thing we can recommend this course to establish an uptrend resistance line, while descending - support line.

The third indicator is present in the archive "ZZ_FF" , its structure is similar to the standard indicator ZigZag , it is necessary in order to display Gann Resistance was able to correctly calculate the original price, ie the extremum of the market. On the schedule for this indicator «ZZ_FF» install is optional, but it should be in a folder with other custom indicators, if he will also attend on the schedule, the work of the "main" display will not change.

The use of the trade:
levels of this indicator is more suitable for trading on the breakdown of these levels, with a view to the next level, and a stop at the previous year.

Download an indicator for MT4 Gann Resistance