GANN 1x1 /Angle's
some peoples say,,"using GANN lines are worthless on mt4 chart,,as the price & time unit may not be in agreement""...
its looks so arbitrary to me,,,i'm testing the Zoom in/out tools & "scale fix/scale fix one on one" & "vertical/horizontal fix" options ......
Any inputs on this issue from the experts is pretty much appreciated>>>>
Thanks!
price != time time !=price . . . there can be no meaningful angles . . . it's been discussed many times.
price != time time !=price . . . there can be no meaningful angles . . . it's been discussed many times.
some peoples say,,"using GANN lines are worthless on mt4 chart,,as the price & time unit may not be in agreement""...
its looks so arbitrary to me,,,i'm testing the Zoom in/out tools & "scale fix/scale fix one on one" & "vertical/horizontal fix" options ......
Any inputs on this issue from the experts is pretty much appreciated>>>>
Thanks!
some peoples say,,"using GANN lines are worthless on mt4 chart,,as the price & time unit may not be in agreement""...
its looks so arbitrary to me,,,i'm testing the Zoom in/out tools & "scale fix/scale fix one on one" & "vertical/horizontal fix" options ......
Any inputs on this issue from the experts is pretty much appreciated>>>>
Thanks!
Step 1
Place your charts on a fixed scale HOWEVER NOT 1 x 1 scaling.
Step 2
Set the grid to on for the chart if it is not already, you need this to measure.
Step 3
Use proper conversion pg 168 of Pattern Price and Time gives the scale for common pairs. EURUSD GBPUSD are .002 pips per day .004 pips per week and .008 pips per month, USDJPY is .25pips per day .50 pips per week and 1.00 pips per month. Remember Gann was a longer term trader, you will need to experiment with lower time frames using the methodology on pg 169 of Pattern Price Time to gain scales for lower timeframes. Currently I only use Gann for longer term trades.
Step 4
Convert scale for a grid square. The grid needs to be 4 periods per square on the x axis or 8 periods per square, so you have to use 4times or 8 times the scale number for the y axis accordingly. Adjust the scale of the X axis using the magnifying glass but ONLY use a geometric number like 4 8 16 that is a square. Non squares will throw your geometric basis IE 10.
IE. X axis = 4, 1 day = .002 pips means that the grid needs to show .008 pips in between numbering squares on the right side y axis, each grid square will equal 4 days on the x -axis.
Step 5
Adjust the grid y axis. Hold the mouse over the right y axis vertical scale and adjust the scaling until you achieve the number of pips desired in between y axis grid squares.
IE. For the daily EURUSD chart with 4 bars per grid square you should have .008 pips between each y axis grid square. (You cannot adjust the x axis so 4 periods is static on all time frames.)
This step will require a calculator unless your decent at adding to get the difference between squares and will take some time to move bar size up and down to the right number of pips is achieved. Once complete you have a geometric chart and all Gann Methods apply!
Step 6
Save a template and NEVER touch your scale again...if you do go back to the template and reload!
PLEASE NOTE - YOU CANNOT CHANGE TIMEFRAMES ONCE YOUR CHART IS GANN SCALED AND YOU CANNOT ZOOM IN AND OUT!!! THERE IS A DIFFERENT SCALING FOR EACH TIME FRAME! This means you must take the time to scale each time frame independently and make a template for future use.
Hope this helps!
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some peoples say,,"using GANN lines are worthless on mt4 chart,,as the price & time unit may not be in agreement""...
its looks so arbitrary to me,,,i'm testing the Zoom in/out tools & "scale fix/scale fix one on one" & "vertical/horizontal fix" options ......
Any inputs on this issue from the experts is pretty much appreciated>>>>
Thanks!