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Indicator Gann medians MA targets for TradingView

Indicator Gann medians MA targets for TradingView

Original price was: $14.00.Current price is: $5.00.

Gann medians MA targets for TradingView refers to a custom indicator built using Pine Script, TradingView’s scripting language, that incorporates W.D. Gann’s theories and moving averages (MA) to identify potential support and resistance levels. This indicator helps traders analyze price movements based on Gann’s principles of time and price relationships, using median values to filter out outliers in the data. 

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Description

Gann medians MA targets for TradingView refers to a custom indicator built using Pine Script, TradingView’s scripting language, that incorporates W.D. Gann’s theories and moving averages (MA) to identify potential support and resistance levels. This indicator helps traders analyze price movements based on Gann’s principles of time and price relationships, using median values to filter out outliers in the data. 

Gann’s Theories:

  • Time and Price Relationship:
    W.G Gann believed that markets move in predictable patterns based on geometric angles and time cycles. 
  • Geometric Angles:
    Gann used angles derived from geometric constructions (like 45-degree angles) to divide time and price, identifying potential support and resistance levels. 

  • Medians for Stability:
    Gann’s median price calculations are used to minimize the influence of extreme values, providing a more stable representation of market sentiment. 

Indicator Functionality:
  • Drawing Gann Boxes:
    The indicator often draws Gann boxes on the chart, dividing the space between high and low points into segments based on Gann’s percentages. 

  • Identifying Support/Resistance:
    These segments, often represented by lines or levels, act as potential support and resistance areas, where price movements might find a pause or reversal. 

  • Moving Averages:
    The indicator incorporates moving averages (MA), which can be used to identify trends and potential entry/exit points. 

  • Alerts:
    Some versions offer automatic alerts when price touches certain Gann levels, helping traders act on potential trading opportunities. 

How it’s used:
  1. 1. Attach to Chart:
    The indicator is added to a TradingView chart, allowing it to analyze price data. 

  2. 2. Configure Settings:
    Traders adjust parameters like the number of bars to consider, lookback periods, and colors to customize the indicator’s appearance and functionality. 

  3. 3. Identify Setups:
    By observing the price action in relation to the Gann levels and moving averages, traders can identify potential trading setups. 

  4. 4. Entry/Exit:
    The indicator can suggest potential entry and exit points based on Gann’s principles, along with stop-loss and take-profit levels. 

Example:
  • A trader might look for a price to touch a Gann level (e.g., a 50% level within a Gann box) and then enter a trade in the direction of the prevailing trend, setting a stop-loss below or above a relevant Gann line. 
Key benefits:
  • Potential for Accurate Predictions:
    Gann’s theories, when applied correctly, can potentially provide accurate predictions of price movements. 

  • Enhanced Analysis:
    The indicator provides a visual representation of Gann’s theories, allowing traders to analyze price action in a more structured way. 

  • Improved Decision Making:
    By identifying key support and resistance levels, the indicator can assist traders in making more informed trading decisions. 

Disclaimer: Gann’s theories and indicators are not foolproof and should be used in conjunction with other forms of technical and fundamental analysis. 

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