Gann SSL Indicator
MT4Also Available for MT5The Gann SSL technical indicator doesn’t repaint. It is very easy to use and automatically detects a trend using the William Gann method.
Description
The Gann SSL Indicator is designed for trading using the methods developed by the legendary trader William Gann.
William Gann’s methods are based on splitting price fluctuations into a sequence of bullish and bearish impulses.
The Gann SSL Indicator for MT4 does this splitting automatically. When you add the indicator to the chart in the MT4 terminal, you will see a line that moves alongside the price:
How does the Gann SSL Indicator work?
The logic is simple:
- If the price is above the indicator line, the market is in a bullish trend.
- If the price is below the indicator line, the market is in a bearish trend.
The examples below show how to trade using the Gann SSL Indicator.
Example #1. Buy Signal
The USDJPY M30 price chart below shows an example of a buy trade.
The trading activities are shown by the arrows drawn with labels.
A buy signal is given if:
- the previous candle closed below the indicator line;
- the current candle closed above the indicator line.
The stop-loss should be placed below the previous local low.
A long position should be closed on a counter signal or by other techniques, such as a trailing-stop.
Example #2. Sell Signal
The EURUSD M30 chart below shows how you can use the Gann SSL Indicator to open a short position during a bearish trend.
A sell signal is given if:
- the previous candle closed above the indicator line;
- the current candle closed below the indicator line.
Protect the short position by setting a stop-loss above the previous local low.
Use a counter signal or other triggers to exit a short position.
Conclusion
The Gann SSL Indicator for Metatrader 4 helps you to trade with the trend using the classic methods of William Gann.
The indicator consists of a single line, trade signals appear when the price crosses the indicator line.
Advantages of the Gann SSL Indicator:
- super easy to understand;
- allows you to trade forex, crypto, equities and other markets;
- does not repaint;
- sensitivity can be adjusted;
- can be combined with various techniques – for example, support and resistance levels;
- can be used by investors on daily and weekly price charts.
Disadvantages:
- doesn’t contain alerts;
- too many false signals especially when there is no clear trend in the market.
William Gann’s theory is too complex to be contained in one simple indicator which automatically gives buy and sell signals. We recommend that you learn the basics of the theory prior to using the indicator.
Before risking any real money, train trading on a demo account with a preferable forex broker. Download the Gann SSL Indicator for MT4 for Free Now!
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