Gann Bar Counting
- Indicatori
- Maximiliano Frisione Figueroa
- Versione: 1.1
- Aggiornato: 26 febbraio 2025
Gann Bar Counting - Identifies the Candle Sequence
Description:
The "Gann Bar Counting" indicator is designed to identify bullish and bearish candle sequences according to the Gann counting methodology. This approach helps detect continuation or reversal patterns, providing a clear view of the market structure.
Indicator Conditions:
Bullish Sequence: A green dot is placed above the candle if:
- The current high is greater than the high of the previous candle.
- The current low is greater than the low of the previous candle.
Bearish Sequence: A red dot is placed below the candle if:
- The current low is lower than the low of the previous candle.
- The current high is lower than the high of the previous candle.
Other Conditions: If none of the previous conditions are met, the indicator replicates the last drawn dot (green or red) adjusting it to the new candle.
Key Features:
- Clear visual identification: Displays green dots above bullish candles and red dots below bearish candles, making it easy to read price sequences.
- Automatic pattern detection: The indicator analyzes real-time price conditions and marks changes in market structure.
- Adaptability to any time frame: Works on all timeframes (M1, M5, H1, D1, etc.) and any available financial asset on MetaTrader 5.
Easy Interpretation:
- Green dot: The price is forming a bullish sequence (each high and low is higher than the previous one).
- Red dot: The price is forming a bearish sequence (each high and low is lower than the previous one).
Recommended Use:
- Identify potential entry points in the direction of the prevailing trend.
- Confirm breakouts or continuations of patterns.
- Complement trading strategies based on technical analysis.
Advantages of the "Gann Bar Counting" Indicator:
- Enhances the interpretation of price structures.
- Facilitates decision-making in trend and reversal trading.
- Ideal for traders who follow Gann methodologies or price action strategies.
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