Trading libraries for MetaTrader 5
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Overview
Gann Angles Indicator
The Gann Angles Indicator is a powerful technical tool based on the theory of William Delbert Gann. It helps traders identify potential support and resistance levels, as well as trend direction across various time intervals.
Key features:
- Automatic determination of extremum within a specified time range
- Construction of 9 Gann Fan lines with angles of 82.5°, 75°, 71.25°, 63.75°, 45°, 26.25°, 18.75°, 15°, and 7.5°
- Flexible line color customization
- Adaptation to both upward and downward trends
- Automatic redrawing when chart scale changes
How to use:
- Apply the indicator to the chart
- Set the time range for analysis
- Adjust the line color to your preference
- Observe price interaction with Gann lines
The indicator automatically finds a significant extremum within the specified range and constructs a Gann Fan from this point. The fan lines can serve as dynamic support and resistance levels, as well as indicate potential trend reversal points.
Input parameters:
- StartDate: Analysis start date
- EndDate: Analysis end date
- GannFanColor: Color of Gann Fan lines
Usage tips:
- Use the indicator in combination with other technical analysis tools to confirm signals
- Pay attention to price interaction with the 1x1 (45°) and 2x1 (63.75°) lines, as they are often key levels
- Experiment with different time ranges to find optimal settings
The Gann Angles Indicator is a versatile tool suitable for analyzing any trading instruments and timeframes. It will help you better understand market trends and make more informed trading decisions.
