INVITE-ONLY SCRIPT
Updated GANN's Levels
This indicator uses formulas created by a legendary trader W.D.Gann.
He found the way how to calculate precise levels of support based on the price at the previous major top.
And, vice versa, we can calculate specific price levels where price may find resistance using only the last major bottom!
Disclaimer
The indicator provides trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicator is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicator must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.
CastAway Trader LLC, the publisher of this indicator is not registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority.
CastAway Trader LLC reserves the right to un-publish this indicator or change it without any written notice.
Past results are not indicative of future profits.
He found the way how to calculate precise levels of support based on the price at the previous major top.
And, vice versa, we can calculate specific price levels where price may find resistance using only the last major bottom!
Disclaimer
The indicator provides trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicator is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicator must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.
CastAway Trader LLC, the publisher of this indicator is not registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority.
CastAway Trader LLC reserves the right to un-publish this indicator or change it without any written notice.
Past results are not indicative of future profits.
Release Notes
v.2 published dated on Oct 25, 2022Added auto adjustment of prices for low priced stocks
Release Notes
15 Nov 2022added a new feature to adjust levels to Forex pairs.
To activate that feature double click any line drawn by the indicator to get a pop up menu of the indicator.
In the menu click box "Adjust to Forex"
Release Notes
Nov 22, 2022Updated algo to correctly calculate levels for Nasdaq
Release Notes
v.4.0Dec 1, 2022
Now the Gann's Levels indicator can calculate and draw not only price levels but also time projections.
Note that Price often makes lows and highs at or near intersections of time and price levels!
Release Notes
v.4 published Jan 5, 2023Added automatic drawing of Gann's Fans.
Gann's fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann's fan consists of a set of lines called Gann's angles.
These angles are superimposed over a price chart to show potential support and resistance levels.
Release Notes
A new updated version 6 now allows you to manually add a starting point for calculating Gann's Levels. In addition, now you get a table showing you up and down projections based on the level you manually input.In the menu you have a switch between a manual and auto modes. To be able to input a starting point you should switch to the "Manual" mode.
Gann discovered the way to calculate resistance levels based on only one number, some major low you pick
To calculate support levels you input price made at some major top
On the S&P chart shown above you can see that support levels once they are broken turn into resistance levels (see the red arrows).
This is how Gann levels nailed highs of two first swings off the Oct 2022 low.
Then we need to change the starting point to the higher low pivot made in Dec 2022.
Note that I changed the starting point to 3764, the Dec 2022 low.
Note how 180 degrees up became a meaningful resistance.
It stopped the rally in Feb, April and in May 2023
You can also see how 360 degrees up off the Dec'22 low nailed the July 2023 top.
Release Notes
v.7 published on Nov 25, 2023The new version significantly simplified using that powerful forecasting tool.
Now you start from manually picking a starting point.
If you pick a high pivot the indicator will draw levels of support according to W.D.Gann's formulas.
If you pick a low pivot the indicator will draw levels of resistance according to W.D.Gann's formulas.
To change projections you just click the line highlighting the starting point and drag it to another pivot. The indicator will immediately recalculate all levels.
Double click any line or object drawn by the indicator and you will get to the menu of the indicator.
When you need the indicator to draw resistance lines you pick in the Find Targets option "For a rally".
When you need the indicator to draw support lines you pick in the Find Targets option "For a decline".
Release Notes
Added drawing the 45 degrees up and down levelYou can now hide the table with the Gann's levels or keep a a small table with only two main levels, 45 degrees and 90 degrees
Release Notes
v.8 published on Jan 25, 2024Add new projections, multiples of 270 degrees
Release Notes
11 Jun 2025fixed a bug in a label 6x270
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact CastAwayTrader directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
to request access contact castawaytrader@gmail.com
Join my Telegram channel: t.me/TheCastAwayTrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact CastAwayTrader directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
to request access contact castawaytrader@gmail.com
Join my Telegram channel: t.me/TheCastAwayTrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.