M
malaguti
And if I could also ask Celeron, what software package do you use? great looking charts, and have been looking for a good gann tool for sometime now
And if I could also ask Celeron, what software package do you use? great looking charts, and have been looking for a good gann tool for sometime now
celeron
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I use different types of software, some of my property and not in the public domain, while others are more commercial or free.
The references will find them on the site.
However, I recommend you do the graphs and tables by hand, because only in this way you get full mastery of Gann theory.
celeron
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For SP500 Index, now the new target Levels provided by Gann Master Time and Price Calculator are 1637 and 1651. Next are 1664-1665-1666 very strong resistance zone.
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celeron
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Fascinating hypothesis on DJIA: the biggest bull market of all times will accompany the DJIA index at the end of his great natural cycle of 90 years,shown by W.D. Gann, reaching, in 2016-2017, the Final Top at price levels at least double than current levels.
small_beer
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Is it just me or do more people think that this Gann stuff is like astrology?
Also, it seems to attract crackpots.
Also, it seems to attract crackpots.
M
malaguti
if im not mistaken he did incorporate astrology.
And the only crackpots are the ones that claim to know what the hell Gann was talking about, and always appear mysterious about it.
ZaBu
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For anyone interested in Gann, I stumbled upon this page a while back and bookmarked it.
Lots of content all signposted from one place:
W. D. Gann
Lots of content all signposted from one place:
W. D. Gann
M
malaguti
cheers Zabu, If I could just get it to tell me how to square price and time though!
M
malaguti
Hi Celeron, specifically which charting package is being used to chart the candles here? I just really like the display
ZaBu
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What constitutes one unit of price for each stock/index is going to be the main issue to resolve (I think). I guess a start point could be to fit against historic data for the instrument in question. Logically if you found a clear uptrend then then the 45 degree line should be identifiable and that would enable you to calculate one unit of price for that instrument. You could then see if it holds true for the future. That would make sense especially if each symbol has it's own 'vibration - right?
Or we could just ask celeron what he uses :smart:
M
malaguti
ahh but will he tell us, or remain mysterious?!
celeron
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The Charting Package is TS2Ki, in personal version, but I will also use many other.
What constitutes one unit of price for each stock/index is going to be the main issue to resolve (I think). I guess a start point could be to fit against historic data for the instrument in question. Logically if you found a clear uptrend then then the 45 degree line should be identifiable and that would enable you to calculate one unit of price for that instrument. You could then see if it holds true for the future. That would make sense especially if each symbol has it's own 'vibration - right?
Or we could just ask celeron what he uses :smart:
There is no mystery, I simply use the method used by Gann.
"HOW TO MAKE CHARTS
Charts are records of past market movements. The future is but a repetition of the past. There is nothing new. As the Bible says – “The thing that hath been, it is that which shall be.”
History repeats and with charts and rules we determine when and how it is going to repeat.
Therefore, the first and most important point to learn is how to make charts correctly because if you make an error in the chart, you will make an error in applying the rules to your trading.
YEARLY CHART:
You should keep a yearly high and low chart, that is, recording the
extreme low and the extreme high price made during the calendar year on one line. The spacing for the price can be used one point to each 1/8 inch or two points or more, according to the activity and range of the stock.
MONTHLY CHART:
You must always keep up a monthly high and low chart, which is the
most important chart of all in determining the main trend. This chart
records the extreme high and extreme low price for the calendar month on one line, and each space or 1/8 inch on the cross-section chart paper should represent one point or $1 per share.
WEEKLY CHART:
The next and one of the very important charts to keep is a weekly high
and low chart. Where stocks are selling below 50, it usually pays to make this chart up using 1/8 inch to represent one-half point , or two spaces to represent one full point, or four points for each one-inch space. When stocks become very active, especially when they are selling above $100 per share, then you can make up the weekly chart using each space or 1/8 inch on the chart paper to represent one point or $1 per share. (Note:As can be seen in this part of the course Gann suggests that the scale of the chart (on which regulates 1x1) is dynamic, too for the same stock: if this is sold under 100 uses 2/8 inch on the chart paper to represent one point or $ 1 per share, if the stock are selling over 100 uses 1/8 inch on the chart paper to represent one point or $ 1 per share, doubling the scale.)
SEMI-WEEKLY OR 3-DAY CHART:
The next chart of importance to the Weekly Chart is a 3-day chart, that is taking the extreme high and extreme low price made from the opening of the market on Monday morning until the close on Wednesday night, closing the chart on Wednesday night – then from the opening on Thursday to the close on Saturday, taking the extreme high and low and closing the chart on
Saturday. This gives you a time period showing one-half of the week. This chart is very important as will be explained later on in the instructions. The spacing for this chart can be the same as for the weekly high and low chart.
WEEKLY MOVING-AVERAGE OR MEAN POINT:
To get a Weekly Moving-Average, we take the extreme low for the week and the extreme high for the week and divide by 2, getting the half-way or mean point for the week. This can be recorded on the weekly high and low chart or on a separate chart, recording the Weekly Moving-Average with a dot and using one line on the chart for each week. Importance of this Weekly Mean Point will be explained later.
DAILY CHART:
When you are trading in a stock that is active, you should always keep up a daily high and low chart, but for study purposes it is enough to keep up the Weekly and Monthly Charts, which give you the main trend. The Daily Chart show the minor trend and shows a change in trend much oftener than any of the other charts, but the indication does not last as long or run so far. This chart should be kept up the same as the others, except when stocks are selling below 50 or when they are in an inactive trading range – then the spacing should be 1/2-point to each 1/8-inch on the chart paper, allowing two spaces to represent one full point or $1 per share. When stocks are active and advancing very fast, making a wide range each day, then you can make the Daily Chart the same as the
Weekly or Monthly, that is using one point for each 1/8 inch on the chart paper. This spacing cuts the chart down and keeps it in a range where it is easy to see and read when fluctuations are wide.
No spaces are skipped on the Daily chart for Holidays or Sundays, therefore the time period is for actual market days and not calendar days. However, you should carry the calendar days along at least every two weeks, as later, under rules for Time Periods for change in trend, you will find that it is necessary to check up and know when the stock is 30,60,80,120,135, etc. days from a top or a bottom, which means calendar days, the exact measurement of Time for
the daily chart. Often the Daily Chart on actual daily movements comes out on an exact mathematical angle of time measurement at the same time the calendar days come out on exact time measurement, making it a doubly important point for change in trend."
from THE W.D. GANN MASTER STOCK MARKET COURSE
(wheelsinthesky : Wheels In The Sky Financial Market Forum)
Pages 118-119-120 GA-3
M
malaguti
The Charting Package is TS2Ki, in personal version, but I will also use many other.ah tradestation, thanks Celeron
I'll go through that short intro to his charts and the link that ZaBu noted. I was going through some of this last night and never realised he placed such emphasis on monthly charts and also like the idea of the 3-day chart
thanks again
celeron
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This is a Gann's Hexagon Chart for Apple (AAPL)
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Hi Celeron,
Can i ask you how do you decide which type of chart/pattern is the best choice for particular stock/commodity?
i think i used to see Pentagon, Hexagon, Septagon and Octagon ..&^£*.%$^(!...
Here you use Hexagon Chart for Apple, any reason for this please?
Many tks!
celeron
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Hello dryfish,
Gann invited to experiment to find the right tool.
After many years of experience spent studying his techniques, I created an automatic system, based entirely on Gann techniques, which helps me to choose, for each stock, commodity or currency, and for each time frame, the Gann's tool or graphic/pattern most appropriate.
This system is called GHS, and is owned by me and I hold copyright.
You can see some examples, with screenshots, on the site MainTrendAnalysis.
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