OPEN-SOURCE SCRIPT
Gann Circle Swing Levels
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This indicator is based on W. D. Gann's Square of 9 Chart and can be interpreted as the Gann Circle / Gann Wheel / 360 Degree Circle Chart or Square of the Circle Chart.
Spiral arrangement of numbers on the Square of 9 chart creates a very unique square root relationship amongst the numbers on the chart. If you take any number on the Square of 9 chart, take the square root of the number, then add 2 to the root and re-square it, resulting in one full 360 degree cycle (i.e. a 360 degree Circle) out from the center of the chart.
For example,
the square root of 121 = 11,
11 + 2 = 13,
and the square of 13 = 169
The number 169 is one full 360 degree cycle out (with reference to 121) from the center of the Square of 9 chart.
Similarly, if you take any number on the Square of 9 chart, take the square root of the number, then subtract 2 from the root and re-square it, resulting in one full 360 degree inward rotation towards the center of the chart.
For example,
the square root of 565 = 23.77,
23.77 - 2 = 21.77,
and the square of 21.77 = 473.93 (approximately equal to 474, which is directly below 565 on the Square of 9 chart)
The number 474 is one full 360 degree inward rotation (with reference to 565) towards the center of the chart.
How to Use this Indicator ?
This indicator is useful for finding coordinate squares on the Gann Circle that are making hard aspects to a previous position (such as a significant top or bottom) on the circle.
Input :
Swing Point (Significant price point, such as a top or a bottom)
Low / High ? (Is it a bottom or a top)
Number of Gann Levels (Number of Gann Cycles to be projected)
Output :
Gann Support or Resistance Levels (color coded as follows) :
Swing High or Swing Low (BLUE)
Support levels calculated with reference to the Swing High (RED)
Resistance levels calculated with reference to the Swing Low (LIME)
Spiral arrangement of numbers on the Square of 9 chart creates a very unique square root relationship amongst the numbers on the chart. If you take any number on the Square of 9 chart, take the square root of the number, then add 2 to the root and re-square it, resulting in one full 360 degree cycle (i.e. a 360 degree Circle) out from the center of the chart.
For example,
the square root of 121 = 11,
11 + 2 = 13,
and the square of 13 = 169
The number 169 is one full 360 degree cycle out (with reference to 121) from the center of the Square of 9 chart.
Similarly, if you take any number on the Square of 9 chart, take the square root of the number, then subtract 2 from the root and re-square it, resulting in one full 360 degree inward rotation towards the center of the chart.
For example,
the square root of 565 = 23.77,
23.77 - 2 = 21.77,
and the square of 21.77 = 473.93 (approximately equal to 474, which is directly below 565 on the Square of 9 chart)
The number 474 is one full 360 degree inward rotation (with reference to 565) towards the center of the chart.
How to Use this Indicator ?
This indicator is useful for finding coordinate squares on the Gann Circle that are making hard aspects to a previous position (such as a significant top or bottom) on the circle.
Input :
Swing Point (Significant price point, such as a top or a bottom)
Low / High ? (Is it a bottom or a top)
Number of Gann Levels (Number of Gann Cycles to be projected)
Output :
Gann Support or Resistance Levels (color coded as follows) :
Swing High or Swing Low (BLUE)
Support levels calculated with reference to the Swing High (RED)
Resistance levels calculated with reference to the Swing Low (LIME)
Notes de version
Usability changes. Configurable colors for Support, Resistance and Swing Level. Adjustable label position.Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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