The Gann Square9 2 indicator for MetaTrader helps traders identify the market trend direction, as well as potential support and resistance moves. Places like this have been conditioned by some technical indicators like support and resistance points.
The zig-zag function of the indicator is used to identify the trend direction of the market while the support/resistance tool paints different lines that act as potential trend reversal zones.
The Gann SQ9 indicator will let you know the bias of a trend and potential price continuation/reposition zones. So it’s not hard to foresee a reaction from the market when the price approaches these points.
Furthermore, the indicator would be of great help to both novice and experienced traders alike. The indicator is perfect for different trading styles such as day or intra-day and swing trading.
The indicator comes with a gray line to show the trend start/end. It also has a gray line that can be used as an exit when trading. The white dotted line is the regular zig-zag – it just appears on this indicator. The green and red markers represent support (green) or resistance (red) levels, with corresponding prices.
BUY Signal: First, identify the trend direction with the zigzag tool. In this case, it is a bullish trend. Now, watch out for price rejection at any of the support levels, and then open a BUY/LONG position in sync with price action. (e.g. Hammer, bullish engulfing, etc.).
SELL Signal: Firstly, identify the trend direction with the zigzag tool. In this case, it’s bearish. Watch out for price rejection at any of the resistance levels and open a SELL/SHORT position after that happens (e.g. Inverted hammer, bearish engulfing, etc.).
The Gann SQ9 2 indicator is a forex trading tool that automatically identifies the trend direction and potential resistance & support levels of an asset. However, it is no cost to you!