MajorGannLevels

Description

The Major Gann Levels study is designed for Gann theory implementation based on numerical relationships between past High and Low prices and cyclical patterns in time. Gann theory distinguishes four major levels of support: G1, G2, G3, and G4. G1 is the level of 50% retracement from the all-time High, which might be indicative of future upward movement renewal. If that doesn't hold, look for G2 level which is the midpoint between the all-time High and all-time Low. Renewal failure at G2 suggests looking for G3 which is 75% retracement from the all-time High. If all of the three levels failed to indicate support, it might occur at G4 which is calculated as a quarter of the all-time High-Low range added to the all time Low.

Plots

Plot Description
G1 The G1 Gann Level; 50% retracement from the all-time High to zero.
G2 The G2 Gann Level; 50% retracement from the all-time High to the all-time Low.
G3 The G3 Gann Level; 75% retracement from the all-time High to zero.
G4 The G4 Gann Level; 75% retracement from the all-time High to the all-time Low.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

 

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