GT Square of 9 Indicator
Those who subscribe to our flagship indicator, GT Energy Points, receive access to our SQ9 indicator as an added, free, bonus.
- MINIMAL WORK, MAXIMUM EFFECTIVENESS
- AUTOMATICALLY WORKS ACROSS ALL TIMEFRAMES
- SUPPORT & RESISTANCE ARE IMMEDIATELY OBVIOUS
This is an un-touched example of our SQ9 indicator in action. As you can see, price bounced off 180 degree support, and was stopped by 360 degree resistance.
Scenes like this happen all day, every day.
What is the Square of 9? How does the tool work?
SQ9 was one of William Gann’s ingenious tools for calculating supprt and resistance on a price chart.
Gets the major low
Starts by getting the major low, taken from the asset’s daily timeframe.
Adjusts the price as necessary
Adjusts the low price to a number that is (suitably) placed on the Square of 9 table. This automatic price adjustment can be over-ridden by the user, if desired.
Automatic Display
The script will then draw 2 layers of support and resistance, colored green and red respectively, immediately above and below the current price.
Testimonial
FAQs
What’s next?
We will update the app as time goes by. But it works pretty well as is…
Do I need to set the degrees?
Yes, you do. A rule of thumb is that the shorter the timeframe, the smaller degrees you want to use. For example, on a 5 min chart, 15 & 45 degrees is the best choice. Conversely, on a daily chart 180 and 360 degrees would probably be the most helpful.
Is changing the multiplier necessary?
We built into the indicator an automatic method, but often our users would prefer to change the multiplier to one of their own choosing.
Why would I want to change the multiplier?
If you look at a square of 9 table, with a 1 in the middle, you may wonder how that would work, if price were less than 1? In fact that’s a great question. How about if the price were very high? Like BTC hitting 69,000?
If price is below 1 or way above a ‘normal’ price of say 100, then we ‘move the decimal point’, until price is somewhere between 1000 and 10,000. Then we apply the SQ9 calculations. Finally we reverse the process, ‘moving the decimal point’ back to where it was originally.
Sounds weird. We know. But it works.
REMEMBER: If you use a custom multiplier, you MUST use only the number 1.
For example, for a very small price, you might use a custom multiplier of 10, 100, 1000…. Conversely, for a very large price, you might choose to go with 0.01, 0.001, 0.0001…..
Happy Trading!
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