Forex Gann Swing MT4 Indicator

Forex Gann Swing MT4 Indicator:

About the Forex Gann Swing MT4 Indicator

The indicator draws 2-bar William Gunn swings without redrawing, and marks the bar that formed the swing with a breakout of the maximum/minimum for convenient visualization of the delay when internal or external bars appear.

Internal bar: the current High is lower than the previous High and the current Low is higher than the previous Low.the indicator ignores such combinations.

Outside bar: the current High higher than previous High and current Low is below the previous Low, if such a combination is considered to be the break of the previous High or Low the current price Close, bullish or bearish, the break is determined depending on which price breaks the price is Close, if not breaking through the outer bar the indicator ignores.

Bullish swing criteria: the current High and Low are lower than the previous highest High and Low(normal breakout); or the current Close is lower than the highest Low(an external bar where the current High is higher than the previous highest High and the current Low is lower than the previous highest Low).

Criteria for bearish swing: the current High and Low above previous lower High and Low(normal penetration); or the current Close above the lower High(outside bar where the current High is higher than the previous lower High and the current Low is below the previous lower Low).

Test results:

Forex Gann Swing MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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