This Gann SQ9 2 indicator for MetaTrader is a simple forex trading tool that detects automatically the in the direction that markets are heading as well as possible support and resistance zones. It’s a part of a set of technical parameters such as resistance and support lines as well as an arrow tool.
The function of the zig-zag indicator is to determine the direction of trend of the market. the tool for support and resistance paints various lines that can be used as zone of trend reversal.
So, in essence, the Gann SQ9_2 indicator would help you to identify the bias of a trend and potential price continuation/reversal zones. This, in turn, allows you to predict a specific action from market as the price is in various zones.
Additionally, the indicator will be a great resource for both experienced and novice traders alike. Additionally, it’s appropriate for various trading methods such as scalping, day/intraday or swing trading.
How To Trade With The Gann SQ9 2 Indicator
The image above illustrates what the indicator might look like on the chart of MT4. It also shows how to spot high-probability trade setups.
The indicator is accompanied by gray lines that indicate the start and end of the trend. The indicator (the line of gray) could also be useful as an ideal zone for exiting trades. In addition, the white dot line that runs through the indicator is a regular zig-zag tool. The red and green lines represent the resistance (GREEN) as well as resistance (RED) levels along with their price corresponding to them.
BUY Signal First, determine the direction of the trend using the zigzag tool. In this instance, an upward trend. Then, keep an eye for price resistance at any of the levels of support before opening the BUY/LONG option in line with price movement (e.g. Hammer, bullish engulfing, etc. ).
SELL signal: Firstly, identify the direction of the trend using the zigzag tool. In this instance, it is a bearish trend. Watch out for price failure at any resistance level and then open an SELL/SHORT trade in sync with price movement (e.g. Inverted hammer, bearish engulfing, etc. ).
It is the Gann SQ9 2 indicator for MT4 is an efficient forex trading tool that can be used for the continuation of trends and reverse. It detects automatically trends and the potential support and resistance levels of the value of an asset. In addition, the indicator is available for download at no cost.