| Gann levels indicator |
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Calculation of support and resistance levels with this Gann indicator is getting very simple task.
In the thirties of the twentieth century, an American trader and investor Gunn, trading on the Stock Exchange, found out very interesting patterns that appear in the price movement. Based on mathematical calculations, he concluded that the angle of 45 degrees (or the angle of "one to one") is an important support for the uptrend and resistance for the downtrend. Thus, calculating the trends he looked, that if the price drops below the angle of 45 degrees, then there is a downtrend, if price go up a higher angle of 45 degrees, then the market is an uptrend.
Another currency pair EURGBP M15
USDCHF H1
USDCAD M30
Price chart shows how the price movement looks for support and resistance levels.
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