You can download it from this link:https://cdn.tradingfinder.com/file/4...5-by-tflab.zip
You can also access the MetaTrader 4 version of this Indicator through this page:https://www.cryptocraft.com/thread/1...etatrader4-mt4
For instructions on how to install:https://www.forexfactory.com/thread/...-in-metatrader
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Overview of Legacy of Gann Indicator
This indicator operates by analyzing the market through a structural lens. It automatically calculates critical time and price levels based on a triangular pattern, which can be manually drawn by selecting three pivotal swing points. The results are then visually projected onto the chart, offering a clear map of potential market behavior.
The projected levels include:
- Bullish and bearish price movement targets.
- High-probability zones for potential trend reversals.
- Key time intervals where a significant market reaction is more likely to occur.
Bullish Trend Scenario
In a bullish market context, the Legacy of Gann Indicator proves invaluable for pinpointing optimal entry points. The technical setup is typically formed within corrective pullbacks or near established support levels. As the price action approaches the key zones generated by the indicator, it sets the stage for a potential upward movement.
A valid buy signal is confirmed upon the occurrence of complementary technical signals, which may include:
- A decisive breakout above a dynamic resistance level.
- The formation of robust bullish reversal candlestick patterns.
Bearish Trend Scenario
Conversely, in a bearish trend, the indicator helps identify potential shorting opportunities. The analytical triangle is often drawn at market tops or upon the conclusion of a bullish corrective wave, especially when price is near significant resistance zones. This confluence suggests an increased potential for a bearish reversal.
Traders should watch for confirming price action signals to activate a Sell signal, such as:
- The emergence of bearish engulfing candlestick patterns.
- Observable negative divergences between price and momentum oscillators.
Legacy of Gann Indicator Settings
The Legacy of Gann Indicator offers a comprehensive set of customizable parameters within the MetaTrader 5 platform, allowing traders to fine-tune its behavior to their specific style and the market's characteristics.
Key configurable settings include:
- Manual Mode: Enables or disables manual drawing mode for the triangle.
- ZigZag Parameters: Depth, Deviation, and Backstep settings to define the sensitivity for detecting swing points.
- Maximum Bars: Controls the maximum number of historical bars the indicator will analyze.
- Show Impulse and Correction Wave: Toggles the visibility of market structure waves.
- Visual Customization: Allows customization of colors for Signal Levels, Target Levels, and Stop Level.
- Alert Systems: Comprehensive notification options including on-screen ALERT, EMAIL, and mobile PUSH NOTIFICATIONS.
- Message Settings: Configurable MESSAGE TIMEOUT and a custom MESSAGE SUBJECT for alerts.
Conclusion
The Legacy of Gann Indicator stands as an advanced trading tool that masterfully combines time and price analysis. By leveraging Gann's analytical logic through triangular structures and time-based algorithms, it provides a significant edge in detecting high-probability reversal zones across various financial markets, including Forex, cryptocurrencies, stocks, and indices. This makes it an essential component for traders seeking to generate accurate and well-timed buy and sell signals.
