Gann Levels with Target SL
Gann Levels with Target Stop Loss (SL) involves using Gann’s geometric principles to determine support, resistance, and target levels. Amibroker AFL enables traders to develop systems that incorporate Gann Levels for setting target and stop-loss levels. Amibroker data feed integration ensures accurate identification and utilization of these levels for risk management in trading.
/_SECTION_BEGIN("GANN Levels");
/*
For Stocks/Index/Commodities "order" need to be 0.1 to 0.5
For Forex "order" should be 0.001 ( except JPY pairs ), for JPY pairs it need to be 0.01
*/
Op=TimeFrameGetPrice("O",inDaily,0);
order=Param("Order",0.5,0.001,0.1,0.001,sincr = 0);
level1 = 1.25;
level2 = 2.50;
level3 = 3.33;
level4 = 5;
level5 = 6.66;
level6 = 7.5;
level7 = 10;
level1 = level1 * order;
level2 = level2 * order;
level3 = level3 * order;
level4 = level4 * order;
level5 = level5 * order;
level6 = level6 * order;
level7 = level7 * order;
bAboveI=(sqrt(Op)+level1)*(sqrt(Op)+level1); // BUY Zone
bAbove = round(bAboveI);
sBelowI=(sqrt(Op)-level1)*(sqrt(Op)-level1); // SELL Zone
sBelow = round(sBelowI);
Sstop= bAbove ;
Bstop= sBelow ;
// Resistance Levels (or Targets for Buy trade)
BTgt1 = round((sqrt(Op)+level2)*(sqrt(Op)+level2));
BTgt2 = round((sqrt(Op)+level3)*(sqrt(Op)+level3));
BTgt3 = round((sqrt(Op)+level4)*(sqrt(Op)+level4));
BTgt4 = round((sqrt(Op)+level5)*(sqrt(Op)+level5));
BTgt5 = round((sqrt(Op)+level6)*(sqrt(Op)+level6));
BTgt6 = round((sqrt(Op)+level7)*(sqrt(Op)+level7));
// Support Levels (or Targets for Short trade)
STgt1 = round((sqrt(Op)-level2)*(sqrt(Op)-level2));
STgt2 = round((sqrt(Op)-level3)*(sqrt(Op)-level3));
STgt3 = round((sqrt(Op)-level4)*(sqrt(Op)-level4));
STgt4 = round((sqrt(Op)-level5)*(sqrt(Op)-level5));
STgt5 = round((sqrt(Op)-level6)*(sqrt(Op)-level6));
STgt6 = round((sqrt(Op)-level7)*(sqrt(Op)-level7));
GfxSetBkMode( 1 );
GfxSelectFont("Arial", 12, 900 );
GfxSetTextColor( colorLime );
GfxSelectPen( colorBlack, 1, 0) ;
GfxSelectSolidBrush( colorBlue );
BTgtext = "Buy Targets : " + NumToStr(btgt1,1.2,False) + " - " + NumToStr(btgt2,1.2,False) + " - " + NumToStr(btgt3,1.2,False)+ " - " + NumToStr(btgt4,1.2,False) + " - " + NumToStr(btgt5,1.2,False) + " - " + NumToStr(btgt6,1.2,False);
STgtext = "Short Targets : " + NumToStr(stgt1,1.2,False) + " - " + NumToStr(stgt2,1.2,False) + " - " + NumToStr(stgt3,1.2,False)+ " - " + NumToStr(stgt4,1.2,False) + " - " + NumToStr(stgt5,1.2,False) + " - " + NumToStr(stgt6,1.2,False);
// GANN levels based on MKT opening price ( please change this time according to exchnage opening time )
GfxTextOut("Buy Above : " + WriteIf(TimeNum()>092900, NumToStr(bAbove,1.2,False) + " SL : " + NumToStr(sBelow,1.2,False),"Waiting for Signal"), 10, 65);
GfxTextOut(WriteIf(TimeNum()>092900,BTgtext,""), 10, 85);
GfxSetBkMode( 1 );
GfxSelectFont("Arial", 12, 900 );
GfxSetTextColor( colorOrange );
GfxSelectPen( colorBlack, 1, 0) ;
GfxSelectSolidBrush( colorBlue );
GfxTextOut("Short Below : " + WriteIf(TimeNum()>092900, NumToStr(sBelow,1.2,False) + " SL : " + NumToStr(bAbove,1.2,False),"Waiting for Signal"), 10, 105);
GfxTextOut(WriteIf(TimeNum()>092900,STgtext,""), 10, 125);
BuySignal = (Cross(H,babove)OR Cross(C,babove) OR (H>babove AND L<=babove)) AND Op=sbelow AND Lsbelow ;
BuySignal = ExRem(BuySignal,ShortSignal);
ShortSignal = ExRem(ShortSignal,BuySignal);
ShortProfitStop= (STgt1 AND L<=Stgt1 AND C>Stgt1) OR (STgt2 AND L<=Stgt2 AND C>Stgt2) OR (STgt3 AND L<=Stgt3 AND C>Stgt3) OR (STgt4 AND L<=Stgt4 AND C>Stgt4) OR (STgt5 AND L<=Stgt5 AND C>Stgt5) OR (STgt6 AND L<=Stgt6 AND C>Stgt6);
BuyProfitStop= (Btgt1 AND H>=btgt1 AND C=Btgt2 AND C=Btgt3 AND C=Btgt4 AND C=Btgt5 AND C=Btgt6 AND CSStop OR ShortProfitStop;
PlotShapes(IIf(Buysignal, shapeSquare, shapeNone),colorBlue, 0, L, Offset=-20);
PlotShapes(IIf(Buysignal, shapeSquare, shapeNone),colorBlue, 0,L, Offset=-30);
PlotShapes(IIf(Buysignal, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-25);
PlotShapes(IIf(Shortsignal, shapeSquare, shapeNone),colorRed, 0, H, Offset=20);
PlotShapes(IIf(Shortsignal, shapeSquare, shapeNone),colorOrange, 0,H, Offset=30);
PlotShapes(IIf(Shortsignal, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-25);
Short = ExRem(Short,Cover);
Cover = ExRem(Cover,Short);
AlertIf( Buy, "", "BUY @ " + C, 1 );
AlertIf( Sell, "", "SELL @ " + C, 2 );
PlotShapes(IIf(Cover, shapeUpArrow,shapeNone),colorGreen, 0, Low, Offset=-20);
PlotShapes(IIf(Sell, shapeDownArrow,shapeNone),colorRed, 0, High, Offset=-20);
numbars = LastValue(Cum(Status("barvisible")));
hts = -33.5;
gl = ParamToggle("GANN Levels","Show|Hide",0);
if(gl==1) {
Plot(sstop,"BUY Zone",colorDarkGreen,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(bstop,"SELL Zone",colorDarkRed,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt1,"BUY TGT1",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt2,"BUY TGT2",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt3,"BUY TGT3",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt4,"BUY TGT4",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt5,"BUY TGT5",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(BTgt6,"BUY TGT6",colorOrange,styleDots|styleNoLine|styleNoRescale|styleNoTitle );
Plot(STgt1,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
Plot(STgt2,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
Plot(STgt3,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
Plot(STgt4,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
Plot(STgt5,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
Plot(STgt6,"SELL TGT1",colorLime,styleDots|styleNoLine|styleNoRescale|styleNoTitle);
PlotText(" BUY Zone" , LastValue(BarIndex())-(numbars/Hts), LastValue(sstop,1), colorDarkGreen);
PlotText(" SELL Zone" , LastValue(BarIndex())-(numbars/Hts), LastValue(bstop,1), colorDarkRed);
PlotText(" BUY TGT1" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt1,1), colorOrange);
PlotText(" BUY TGT2" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt2,1), colorOrange);
PlotText(" BUY TGT3" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt3,1), colorOrange);
PlotText(" BUY TGT4" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt4,1), colorOrange);
PlotText(" BUY TGT5" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt5,1), colorOrange);
PlotText(" BUY TGT6" , LastValue(BarIndex())-(numbars/Hts), LastValue(BTgt6,1), colorOrange);
PlotText(" SELL TGT1" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt1,1), colorLime);
PlotText(" SELL TGT2" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt2,1), colorLime);
PlotText(" SELL TGT3" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt3,1), colorLime);
PlotText(" SELL TGT4" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt4,1), colorLime);
PlotText(" SELL TGT5" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt5,1), colorLime);
PlotText(" SELL TGT6" , LastValue(BarIndex())-(numbars/Hts), LastValue(STgt6,1), colorLime);
}
_SECTION_END();
_SECTION_END();