Doubled Numbered Square of Nine Progression | Regression

18 jam lalu

The Doubled Number Square of Nine Progression | Regression Indicator enables forecasting of support and resistance levels using the SQ9 progression or regression from a user-selected pivot price. The indicator also plots adjustable pivots on both the chart and the Square of Nine.

How to use to forecast support and resistance levels:
1. Select a Pivot Point: Choose a top or bottom pivot to use as the starting point. Select High or Low in the indicator to set the correct price to the pivot.

2. Set Price Increment or Decrement: Select a price increment to advance the starting price on the Square of Nine (for example 1 or -0.01).


3. Rotate to add or decrease the number of rungs on the Square on Nine: Rotate the Square of Nine and adjust the dimensions. The horizontal levels correlate to the rotation of the Square of Nine.

4. Plot Levels: Select a Square of Nine angle to plot the support and resistance levels based on the selected increments. These levels auto expand and decrease depending on the number of rotations in step 3. The price values from each of the selected diagonal or cardinal cross are applied to the chart with labels on both left and right. Left labels represent the cell the time variable and the right label is price.

5. Review Levels: Conduct a simple review of the plotted support and resistance levels in relation to recent market pivots.

6. Identify Correlations: Identify the Square of Nine cardinal cross or diagonal cross angle that correlates with the most market pivots.

7. The indicator plots user-adjustable pivots on both candles/bars and displays their placement on the Square of Nine in both Progression and Regression. The close price is plotted on the Square of Nine in real-time with a white background. This helps users identify which angles the highs and lows favor from the selected pivot. The pivot levels' colors can be adjusted.

Each market has its tendencies, favoring specific angles from the cardinal or diagonal cross. The basic idea is to choose between the diagonal cross and cardinal cross angles to forecast support and resistance levels.


Settings:



Overview:



Example on Forecasting Support and resistance level using this indicator:

In the image above, I'm progressing from the significant low at a rate of $200 per cell. Based on the plotted pivots, I've selected the 315-degree angle on the diagonal cross as it aligns with a few recent pivots. Now, I've drawn a vertical line to show that as we add rungs to the Square of Nine, we introduce support and resistance levels based on the identified angle that aligns with these early pivots from the low.

In the image below, I've moved forward in time to show how the initial angle selected based on the early pivot forecasted support and resistance levels around the high in BTC. Do not expect the price to turn sharply at the levels the indicator generates, but use it to help identify SQ9 levels that may form market turns. As P. Mikula mentions in his work, "The Square of Nine successfully defines market price swings but it does not make the market form pivots."


This indicator includes enhancements made to the Gann Square of Nine indicator originally created by @ThiagoSchmitz.

This indicator is inspired by the methodologies detailed by Patrick Mikula in his book "The Definitive Guide to Forecasting using W.D Gann's Square of Nine." I recommend checking it out. He also mentions another use case as a Price and Time chart in his "Gann Scientific Method Unveiled, Volume 2." FYI, I am not affiliated with Patrick Mikula in any way.


Known Issues:
Close price plotted on the Square of Nine in Regression "from a high pivot" takes a current candle to close in order to be plotted. Progression works as expected.

18 jam lalu

Nota Keluaran

Added adjustable background color for Close price on SQ9.

Also, just to emphasize, you can only plot one angle at a time, but I would like to improve on this someday.