Gann Levels HTF

4일 전

Gann Levels HTF

This script plots the key Gann levels on a chart based on a selected higher time frame (HTF), enabling traders to identify important support and resistance zones. It calculates the Gann levels as fractions of the price range between the high and low of the selected time frame.

Features:

Select any time frame (default is Monthly) to calculate Gann levels.
Gann levels are plotted as:
R3 (1/8 of the price range)
R2 (1/4 of the price range)
R1 (3/8 of the price range)
P (1/2 of the price range, mid-point)
S1 (5/8 of the price range)
S2 (3/4 of the price range)
S3 (7/8 of the price range)
The script uses a stepline plot style for visual clarity.
Labels are added at the last bar to indicate the corresponding Gann levels with colors to make them easily identifiable.
Blue for R3 and S3
Green for R2 and S2
Orange for R1 and S1
Red for P (the mid-point)
This script is especially useful for traders following the principles of Gann Theory, providing an easy-to-use tool for detecting key levels that may act as support or resistance.

Use it on lower Timeframes with selected Higher Timeframe