Gann Angles With Volatility

The Gann Angles With Volatility indicator calculates intraday support and resistance levels by combining Gann angle theory with statistical volatility measurements to identify high-probability price targets and breakout zones.

Usage

The script is designed primarily for intraday trading on lower timeframes (15 minutes or less). It automatically generates horizontal levels that serve as potential entry points, targets, and reversal zones:

• Buy Above / Sell Below: These serve as the initial breakout triggers for the trading session.
• Major Resistance/Support: Intermediary levels where price might stall or find temporary floor/ceiling.
• Targets (TGT 1-5): Progressive targets for bullish (green) or bearish (red) trades, calculated through sequential cycles.

Traders can use these levels to set stop-losses or take-profit orders. For example, a breakout above the "Buy Above" level might lead a trader to target TGT1, then TGT2, while trailing a stop-loss at the "Major Resistance" levels.

Details

This tool implements a unique hybrid approach:

1. Volatility Calculation: It calculates the log-normal daily volatility using a 10-day lookback of daily closing prices. This establishes the "Price Range" used in further calculations.
2. Gann Square of Nine Principles: The script uses specific degree factors (e.g., 45°, 90°, 180° represented as factors) to square the price and volatility range.
3. Recursive Cycles: The levels are calculated in cycles. TGT1 serves as the basis for Cycle 2, TGT2 for Cycle 3, and so on, creating a roadmap for extended trending moves.

Settings

As an automated calculation tool, the primary controls are found in the Style tab for visual adjustments:

• Buy Above/Sell Below: Toggles visibility for the initial entry levels.
• Major Support/Resistance: Toggles visibility for intermediate Gann levels.
• TGT 1-5: Toggles visibility for the primary bullish and bearish targets.

FAQ

How do I use the Gann Angles With Volatility indicator?

Identify the "Buy Above" or "Sell Below" levels at the start of the session. A candle closing beyond these levels signals a potential move toward the first target (TGT1).

On which timeframes does this work best?

The script is optimized for intraday use and is restricted to timeframes of 15 minutes or lower to ensure the levels are relevant to the current session's price action.

Where can I get access to this tool?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.