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(EFS) W.D. Gann Square of 9 Levels PRO

5. May 2010
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eSignal Study:  This is an advanced study that takes some playing with to understand and use.  Based on the work by W.D. Gann, certain levels can be calculated given a certain market extreme price (such as a high or a low).  Gann calls these calculated levels "degrees".  These degrees can give a idea of support and resistance levels based on that one price number.

Depending on how an instrument is priced, the "factor" needs to be tweaked to give accurate levels.  For example, intraday 6E may work best with a factor of 5.  Whereas, the ES daily may work best with a factor of 0 or -1.

This tool is highly customizable!  To use this script, double-click the low or the high of a bar to calculate the support or resistance levels.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).


 

 


  
 

Study, Pro, Sup/Res Levels