Rank: Member
Groups: Registered, Registered Users, Unverified Users Joined: 5/8/2010(UTC) Posts: 28 Location: Mumbai (India)
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I have the following formula and I want to code the same to make it a Gann Indicator.
This particular code works best with 3 digit price
Can any one help me to build a new indicator?
The formula is as follows
Since it works best with 3 digit price so,
If the close price is less then 100 multiply it by 10 and if the close price is less then 10 * it by 100
Step 1 Take the square root of close price
Step 2 Take the square root of 9 DMA of close price
Step 3 Subtract the result of Step 1 from the result of Step 2.
The result will be the difference between the closing price and the MA calculated as the difference between their respective square root
Step 4 Multiple the value of Step 3 by 360 and then divide the result by 2
Step 5 Calculate a 2 period MA of the value of Step 4. This is done to smooth the result.
When the indicator is plotted we will draw horizontal lines of +,- 45, +, - 90 degree and +,- 180 degree. +90 degree indicates over extension of over bought and -90 degree indicates over extension of over sold condition of the price, when over extension occurs watch for pivot reversal from here the reversal is eminent.
Does / Can any one help to code it as a new indicator I hope this new indicator will help many traders who wants to use Gann techniques but cannot use it due to its complex understanding
Hoping an early and workable reply
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Rank: Newbie
Groups: Registered, Registered Users Joined: 7/30/2011(UTC) Posts: 3 Location: Singapore
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I can attempt to do the coding if you can provide me with more details.
PM me or something.
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