Gann Take Profit Levels

I found an interesting article at:
Square of Nine in Excel


Then I came across an indicator by a guy with the nick name Coder, it seems to line up nicely at certain levels.

EDIT: Version 3, I have updated the indicator, just throw a Horizontal Line on a Price High and name the line -1 or -2 or -3 or -4 or -5 or -6, depending on how far apart you want the lines,

or

If it is a Price LOW then name the Line 1 or 2 or 3 or 4 or 5 or 6, depending on how far apart you want the lines.

for Version 5 which are in the ZIP file SQ9_v5.x.zip you use a Horizontal Line and Name it 9 as described in this post

as shown in this picture here

Dean.

Ok, looks really interesting. I've never been a fan of Gann but must confess that i've also never looked at his work.

However I have just added this to the usd jpy 1 hour chart and the results are fantastic...... in hindsight. Isn't it a shame that hind sight is 20/20 but normal sight is distinctly blurred. I guess you've got to decide where you get a swing low or high - a recent new low and change of direction and go from there.

I think I'm going to have to read some Gann literature later

Max

Gidday,

I have looked the EUR/USD and it works well on that also, I think the 4 major pairs, GBP/USD EUR/USD USD/JPY and maybe the USD/CHF should obey the levels the best as other pairs tend to be dragged around one way or another by these 4 pairs, but I maybe wrong.

Something else to look out for, if in a trend say on the hourly and if three Take Profit levels have been hit one after the other and the forth one fails, zoom out to the daily and increase the line spacings and you may find there was a 360 level being hit on the higher time frame, higher time frames tend to over rule trades happening in lower time frames.

Here is a template to load onto a EUR/USD chart if you want to zoom in to 1 hour chart [or lower] to see how price reacted around the Gann Take Profit Levels.

Dean.

I like it but there is still one crucial point missing. Knowing where to start. I can look over a chart and apply this and think wow, thats fantastic but if I look at today, now, would I know this is the right time to sit and wait for levels to be reached or is now just a part of a previous level. Hope that makes sense!

Max

Yes that makes total sense.......... and that is the reason I put this out there...... maybe someone can see...... what I can't, and they can make a fortune.......... and maybe they will want to share what they see, but I would understand if they didn't want to.

I actually think the answer will not be complex, in fact quite simple, which annoys me, cause I'm simple so I should be able to see it......

Seriously...... I think the answer will be quite simple.

Dean.

When specifying the Hi/LO, how far should one go back in time or it like Fibs where its discretionary?

I just started at the most obvious recent High or Low with the idea that it could have been a take profit point so strong that it caused a reversal, only thing is when you are into a trend I don't know how to figure out what time frame/line_spacing_multiplier setting to apply. I guess you could apply a few different ones and see what price action happens near them.

Dean.

We're in similar boats then. Although it's always good to look at different strategies to broaden's one knowledge, even though one already has something working for them.

G'day everyone,

Thanks for posting. Not many Gann threads out there.

Researching into Gann methods now and am using a similar Gann Sq of 9 calculator (but not a well done as this one...)

Where to draw from:
Draw from any swing low or high.

Gann's methods are based on price cycles, so every if u stick 5 diff swing lows in an uptrend, the levels should more or less corroberate with each other. Hope that helps.
Been using Gann Sq of 9 for a little while, so let me know if I can help

Btw Deanz, appreciate you sharing the Sq of 9 indi, but I can't seem to get it to work. Noticed that the settings on your screen and the ones which popped up on the indicator are different. Pse see screen shot.
There's no where to input high/low prices.

If you can, it would be very very good if you could input different colours/lines for different angles,
The important angles are,
90, 180, 270, 360, etc (90 multiples. Known as "squares") and
120, 240, etc (120 multiples. Known as "trines")
45, 90, 135, etc (45 multiples... not as important, but gives minor zones)

=)

Cyrus, Just a heads up on what you have.
This indicator does not draw angled lines. The lines drawn on an angle in the charts are done manualy.
This is how it works.
You input the high or low price by double clicking the first variable "the high or low price" and then change the second variable to true or false , if applying to the swing low leave as is, or again double click and change to false.
What this indicator does, it takes the price you input, works out the square root of that price and then draws horizontal lines across your chart at 90 degree intervals.
If you apply it to a cable chart at the swing low of 1.4699 and set low to true, increments (factor number)of 0.5, The first line drawn at 90 degrees, adds one times the square root of 1.4699 to itself, (121) and gives you 1.4820.
On a one hour chart, I use the line spacing set at 10000

Hope that helps
If you have more questions just fire away. But keep it hush hush we don't want too many people to know about Gann stuff.

Roy
Edit. I just realised the original indicator has been removed and replaced.The one I have is Version 2.

Thanks Roy, yes that was an earlier version, as in the screen shot, that works just the same I just got tired of having to change the price level manually. I'm glad to hear you make use of it :-) that's great.

Hey there Cyrus,

I updated the indicator and mentioned how to use them in the edited text above in blue text.

But for the reading challenged :-) just place a horizontal line on the chart and name it " 1 " if you want SQ-9 lines above the horizontal line, name it " -1 " if you want SQ-9 below. If the SQ-9 lines are spaced too close for your time frame then go to " 2 " or " 3 " etc. What that does is move the decimal point over in the calculation.

Well it's your lucky day, I made another set of indicators a while ago and hadn't yet posted them, a bit messy to apply but you throw all of them on a chart, and then place a horizontal line and name it " 9 " then all the 180 and 360 degree lines are drawn for all the 1 to 6 indicators you throw on the chart like the old 1-6 lines. mentioned above.

If you want to cut down on the lines on your chart then reduce the number of indicators, the "a" at the end of each indicator name eg: SQ9_v5.1a means that indicator is responsible for drawing the gann lines ABOVE your horizontal line and the indicators with a " b " at the end of that indicator name eg: SQ9_v5.1b is responsible for drawing the gann lines BELOW your horizontal line.

If you want lines every 90 then in the INPUT tab change "lines_every" to 90 AND change the "factorNumber" to 0.5
If you want lines every 45 then in the INPUT tab change "lines_every" to 45 AND change the "factorNumber" to 0.25

You know I personally have never been able to get a system together using SQ9........ as powerful as they seem, any hints..... lol but I have noticed that if it breaks the 180 level it can tend to make it to the 360 level.

New indicators added in the first post called SQ9_v5.x.zip , as that is the only post I can always edit/add to.

Dean.

Guys, thanks alot for teaching how to use this indi. Appreciate it plenty.

Just my 2pips, I use the Sq of 9 as an add on to my own trading.
In a nutshell, I use 30 and 10 MA as a trend indicator in the 5min;
the 15min is my big picture to give me more perspective.

I'll chuck a Sq of 9 (the version I'm using...) onto 15min (assume long) lows
and one on the recent 5min lows. I use them as a gauge for where potential resistance points will be.

I also use the conventional, pivots (daily, weekly, monthly) and fib pivots.
So this gives a chocka block many S&R lines around. Sq of 9 provides S&R points tt no other method can.

The "safe" zones are when they're all pretty far away from where e mkt is, and I avoid trading near/consider t/p when I see S&R clusters, giving quite a good amount of weight to the 15min 180 and 360 levels.

It's grab and go style, so its trading with the trend, but not for too long.
Realised tt nice place to enter is when price pulls back btw 10 and 30, w 30 still pointing up. I came across Phillip Nel's thread. He uses pretty much similar method as me, but diff MA numbers.
http://www.forexfactory.com/showthread.php?t=11854

Thanks again for the explanations
Will hv to reread to digest it abit, brain's fried =P
oh and yes, hush hush indeed =)

it looks complicated and colorful haha!

Heya Deanz,

I was thinking through your recent comment on Sq of 9 angles and which swing to use it on.

Was wondering what you thought of the following idea/hypothesis:
If we use Sq of 9 (SO9) on diff timeframe highs, we will get diff angles all over the shop. V unlikely that the maj angles, like 180 or 360 will coincide.. (when they do, tt's confluence..but low odds..anyways)

This shows us different harmonic cycles operating @ the same time, and is almost like daily, weekly pivots, in that the daily ones, are not as significant as the weekly (or monthly for tt matter). It becomes a wheel within a wheel within a wheel...
The thing is, unlike pivots, the SO9 lines arn't differentiated on the indicator. Perhaps if we label them, according to timeframe, we might be able to get a clearer picture and knowing how impt e angles are, it'll help make better decisions.

I suspect tt when Gann used angles, he _might_ have used a confluence of different price angles and time angles, and in the rare occassion that they all line up, he can be sure there's a turning point in the market.

What do you guys think?

Need Clarification:
I'm a newbie to the time angles part. From my reading, I have 2 impressions..
(1) Static angles; Divide up the day (whichever time period) into 360 and then each X mins becomes an angle. So for 1day = 360, 3hr = 45 deg.
(2) Dynamic angles; Use recent high/lows as starting point, from there, the turning point angles become more defined.... <-- How would we apply this? Input pse! =)

Cy

Cyrus , you are only limited by your imagination when working with this material. Here is a good example of a 360 degree move. From the start at 1.3080 (Square root is 114.36 = 90 degrees) we have moved thru 4 times 90 degrees. 4 * 114.36 = 457 pips. See how this move ended @ 1.2620. = 460 Pips.

Roy

Nice example Roy.

Here is another look that Cyrus may appreciate, where areas/levels overlap/confluence. Not that I trade my own indicators... but maybe I should, ha ha.

Dean.

LOL.

Thanks Deanz. Yes you should. Gann's stuff is good shit.
IMHO, Gann's levels are just another suppt & resistance, and often times, it operates independently from other things like fib pivots and tradiaional pivots.

Not had e time to look into the indi lately, but I'm v v V glad to see u can place more than 1 Sq of 9 level on the same chart.

What I see in e chart is a head and shoulders with a confluence of R levels, as you stated, good place to be short.

Will definitely look into your indi soon.
Let's see if i'm dyslexic/reading impaired this time. ROFL

I'm working on a Squaring of Range XLS. So far, works pretty good on daily charts. Trying to shift tt to intraday when e daily is more sealed down.
I've actually managed to nearly replicate the numbers on the bond trade on
http://www.tradingfives.com/store/so9book.html

Will post when done. =)

Cy

PS: Thanks for the post Roy. It helped me to confirm some of the Squaring formulae that I was going, "is this right?" about. =)

Are you guys watching?

There are no systems?

Gann did his work on paper using closing daily prices. Therefore when using his material in the simplest form which is the Gann grid you are looking to use all time high/low and/or yearly high/low. Theoretically the yearly high/low will coincide with a degree from the all time high/low. As for the time frame Gann uses the daily. I have found Gann extremely usefull with frequent confluence with Fibonaci retracement and expansion levels. I am no expert and hope to find more insight on this thread as it develops.