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TRADING FOREX CYC LES T R A D I N G T H E F O R EX M A R K E T U S I N G P R I C E A N D T I M E C Y C L E A N A LY S I S .
SATURDAY, AUGUST 18, 2007
Intraday Intrada y Gann Grid Construction Co nstruction
Web
4xcycletr
Search In this blog entry I will show how to come up with with degrees of price and time and plot pl ot them on an intraday chart using the stock tools in Metatrader 4.
ABOUT ME 4XCYCLETRADER
For intraday, the first thing I do is
My name is Chad and I trade the
square the chart. ie one unit of price
forex market using price and time
equals one unit of time. To do that,
cycl cy cle e analysis. I us e techniques techniques s uch
right click on the chart or hit F8. On the lower left, click the box for
as those taught by WD Gann, George
"Scale Fix One to One". You may have to use the +/- keys or chart
Bayer, Michael Jenkins, Brad Cowan,
zoom to get price to fit in the screen.
as wel welll as those thos e of my own and my personal mentors.
Next, find a high or low that you want want to use as the zero point. For this example, I'm using a EURUSD 30 minute chart and going all the way bac back k to 6-13-07 10:30 10:30.. Price for the low is approx. 1.3261. Because Beca use this is a low, I wa nt to build the grid going up first. The price needs to be converted con verted to something useful. Because this is intraday, intra day, I drop the decim imal. I then apply the handy price to degrees formul form ula a to come up with the next higher 45 ° price level on the Square of Nine. (In reality, Gann never called called it the Square of Nine. His Square of Nine was something entirely different.) 45° Price=((ConvertedPrice^0.5+DegreeFactor)^2)/10000 or 45° Pric Price=((13261^0.5 e=((13261^0.5+ +.25 )^2)/10000 =
1.3319
To figur figure e the price level going down the formula is the same sam e except the Degree Factor is substracted instead of added: 45° Price=((ConvertedPrice^0.5-DegreeFactor)^2)/10000 The key component here is the .25. I want 45°. 45° is 1/8 of the circle circl e or .25. .25 . 180° 180 ° would would be 1, 360° = 2, etc. So now I have the price for 45°. Next up is time. For this example I'm using each bar as one degree. So I count out 45 bars and mark it with
VIEW MY COMPLETE PROFILE
a verticle line. Now I have the start of price and time and the termination of price and time for the MT4 Gann Grid tool. If your chart has been squared, the Gann Grid tool should now form perfectly square diaganols. If you like doing the math, calculate the price levels up and down. I don't so I just put horizontal lines at the intersections. Note that if you don't square the chart, the intersection lines will shift i n horizontal scale and it will appear that the horizontal lines aren't correct as the chart advances forward or back. T hey are correct, just not in relevence to the messed up chart scaling. Time will always be correct unless you don't count off your bars right when setting up the first s quare. For the time lines, I use the cycle tool and add in the time lines. I also add one more ins tance of verticle cycles to mark off 360° degrees of time. In this example, I use red. We now have 45° levels of price and time going out to infinity. The first chart below shows the start. The s econd chart shows current events. Notice how the levels are still relevent in both price and time. The most recent division of time was Friday's high from the move resulting from the Fed interest rate drop.
This type of chart is also called a Pyrapoint chart and you can read about the Pyrapoint style of usage here: http://www.ensig nsoftware.com/help/pyrapoint.htm P O S T E D B Y 4XCYCLETRADER A T 10:17 AM L A B E L S : FOREX GANN EURO POUND GBP EUR
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9 COMMENTS:
4xCycleTrader said... Edit: 45* is not 1/4 of the circle. It's 1/8. A U G US T 1 8 , 2 0 0 7 A T 9 : 1 5 P M
Agama Buddha said...
LINKS
Time T raders Forex System and Book Reviews Blog
hi can i know what the function of the red line? MAY 19, 2008 AT 9:54 AM
Astro Trading Forum Forex Factory Forum Moneytec Forex Forum
http://ensign.editme.com/pyrapoint BLOG ARCHIVE
right link
► 2012 (2)
OCTOBER 24, 2009 AT 5:54 PM
► 2011 (6) ► 2010 (11)
Ricardo said...
► 2009 (4)
I have scale fix one to one but the screen look very strang.
► 2008 (13) ▼ 2007 (26)
I use in meta trader for gold/
► 09/09 - 09/16 (3) Could you show me how to do it correc.
► 09/02 - 09/09 (6)
JANUARY 28, 2010 AT 10:48 PM
► 08/26 - 09/02 (5) ► 08/19 - 08/26 (6)
Unknown said...
▼ 08/12 - 08/19 (6)
This comment has been removed by the author. A U G US T 9 , 2 0 1 2 A T 2 : 4 9 P M
Intraday Gann Grid Construction Dollar S howing Strength?
Airquest said...
British Pound Update
Another question, when I square time, do I have to count the first bar as 1, so bar n° 46 would have a line on it, or do I have to count the first bar as 0, so next bar to have a line is
British Pound Price and Time Squares
45th ? T hanks. Your help is much appreciated.
British Pound bar counts
A U G US T 9 , 2 0 1 2 A T 3 : 4 0 P M
A little history and how I ended up where I am at
Airquest said... This comment has been removed by the author. A U G US T 9 , 2 0 1 2 A T 5 : 2 4 P M
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► Gann Airquest said...
► Forex Volume
Why do you use a 200% scale (45 is 2x12.5% of 360) and not
► Trading Tool
use a 100% scale (45 would be 12.5% of 360). Thanks. A U G US T 9 , 2 0 1 2 A T 5 : 3 3 P M
Invest in Best SIP Funds callif said... Kindly assist in understanding next step after getting price of 45 degree SEPTEMBER 4, 2012 AT 2:14 PM
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