Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
An indicator for manual construction of correction zones based on Gann's theory. The zones are determined by mathematical calculation using special coefficients for different timeframes starting from M1 and ending with D1. The indicator works with currency pairs and metals, as well as with crypto and even stocks
With this indicator, you can easily build support zones for purchases/sales based on the cyclicality of the market, and make trading decisions when approaching these zones
This will give you an understanding of the direction of price movement from the support zones for purchases/sales
Also, with the help of this indicator, you can determine the breakdown of the ascending/descending cycle and determine entry points
Suitable for both scalping and short-term and medium-term trading. It all depends on your trading style
Very easy to use. Only four keys are used to build zones
Zones are built manually from clearly visible high/low on the chart
To build a support zone for purchases, you need to place the mouse cursor on a clearly visible high and press the "2" key
To build a support zone for sales, you need to place the mouse cursor on a clearly visible low and press the "1" key
To determine potential target zones, use the "3" keys - from the low for target zones for purchases and "4" - from the high for target zones for sales
All you need is a clean chart and this indicator, and no more trend lines or searching for levels from history. Install two copies of the indicator on the chart, with the settings of the current time frame and with the settings of the time frame below to compare the price movement, because on m1 there may be an ascending cycle, and on m5 a descending cycle and vice versa
