Gann Angels Price Projection indicator shows you the support & resistance price level. this method is developed by Daniel T. Ferrera in his book “THE GANN PYRAMID SQUARE OF NINE ESSENTIALS”.
All you need to do is just enter your low or high price on market and Gann Angels indicator Calculate the Price Traget levels like:
- Gann Angel 1×4 Price Level
- Gann Angel 1×3 Price Level
- Gann Angel 1×2 Price Level
- Gann Angel 1×1 Price Level
- Gann Angel 2×1 Price Level
- Gann Angel 3×1 Price Level
- Gann Angel 4×1 Price Level
- Gann Angel 8×1 Price Level
Here is Descriptions:
For Adding Gann Angels to your Meta trader 4, First copy Gann Angels.ex4 To Indicator Folder on Meta trader 4 Program Installation Root. Then You Have to set 2 Field:
- Price Type
First. You should find a major low or high on chart. To get that, I suggest you to go to a higher time frame on chart and get a high or low price.
Then go to indicator and enter ther price and choos the price you entered is high or low.
And last. You have some lines which are:
1st line: 1×4
2nd line: 1×3
3rd line: 1×2
4th line: 1×1
5th line: 2×1
6th line: 3×1
7th line: 4×1
8th line: 8×1
Let see how Gann Angels indicator set and works:
EUR/JPY price make a high on 2013/12/07 with price 145.677.
So. We set our indicator on 145.677 type high.
You can see the price gann angel level which are shown on chart.
By standing with mouse pointer on each line. You can see the price level and line number.
As you can see on chart, the price goes down until it hit the 1×3 level, and then reverse. You can see the price reaction on Gann Angels Indicator.