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Indicators: Murrey Math Lines for the Current Bar

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Murrey Math Lines for the Current Bar:

Murrey Math Lines for the current bar are an effective tool for the market movements forecasts.

The well-known theorist Thomas Henning Murrey is widely known in the world of the modern trading. It was he who adapted the theory of the legendary William Gann making it more understandable. Murrey created his famous math lines on the basis of the Gann's "Square of Nine" principles.

The lines proved to be an effective and widely used tool for forecasting the market movements changes. The idea of Murrey Lines can be shortly described the following way: the range is divided into 8 equal parts (areas) and two outer areas are additionally generated above and below. Areas are divided into lines.

Lines description (for a daily chart):

  • 8/8 andf 0/8 lines (ultimate resistance).
  • 7/8 line (weak, stall and reverse).
  • 1/8 line (weak, stall and reverse).
  • 6/8 and 2/8 lines (pivot, reverse).
  • 5/8 line (top of trading range).
  • 3/8 line (bottom of trading range).
  • 4/8 line (major support/resistance).
  • The area between 8/8 and +2/8 is an overbought zone.
  • The area between 0/8 and -2/8 is an oversold zone.

Author: Nikolay Kositsin

Murrey Math Lines

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