Swing Trading Success with the Gann Swings MT4 Indicator 

 July 27, 2016

By  Advanced Strategies

The Gann Swings MT4 indicator is based upon one of the many methods taught by WD Gann. The Gann swings indicator is an almost mechanical trading system that is also easy to understand compared to the many other methods outlined by Gann. The Gann swings MT4 indicator, as the name suggests is an indicator that is designed based on the Gann x-Bar swing method. The x-Bar swing takes into account the price fluctuation in the short term. Based on the swing chart, Gann called it a trend line which is built on a bar by bar basis and one that is constantly evolving.

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The Gann Swings method can be used to trade the short term and works across any time frame, although Gann primarily designed it to be used on the daily time frame. Based on the Gann swings methods which is quite objective in its approach, the trend that evolves shows if prices will continue moving in the trend or if there was a reversal or a pullback to the trend.

Using the Gann Swings MT4 Indicator

The Gann Swings MT4 indicator has only two settings as shown in the image below.

  • Kind: This is nothing but the number of bars to be used for building the high/low swing chart
  • Move last Swing: True/False
Gann Swings MT4 Indicator Settings
Gann Swings MT4 Indicator Settings

Once the indicator is applied, make sure to use the color settings to change the appropriate colors. The Gann swings MT4 indicator plots the swing high and low points on the chart and also applies the zigzag indicator on the chart.

The swing points are used to determine when there is a change of trend. When this information is applied to the zigzag that is formed on the charts, traders can either buy the dips in the short term uptrend or sell the rallies in the short term downtrend.

<a href=https://www.forexstrategieswork.com/10-tips-for-successful-trading-that-anyone-can-follow/ srcset=
Successful Swing Trading with Gann Swings MT4 Indicator.png” width=”766″ height=”328″/> Successful Swing Trading with Gann Swings MT4 Indicator

It is important to note that the Gann Swings MT4 indicator is not a long term swing trading indicator, despite the name sounding familiar.

Gann Swings MT4 Indicator Strategy and Trading Rules

For long positions:

  1. For long positions, wait for the previous zig zag to point a low.
  2. Identify the most recent Gann swing high
  3. Look for a Gann swing low to be plotted
  4. Place a pending buy order at the Gann swing high with stops at the low
  5. Set take profit to 1:1 and 1:2 risk/reward set up.
Gann Swings MT4 Indicator Long Entry Rules
Gann Swings MT4 Indicator Long Entry Rules

The above chart shows the long positions being taken which resulted in price reaching the two take profit targets.

For short positions:

  1. Wait for the zig-zag to plot a top
  2. Identify the nearest and most recent Gann swing low
  3. Wait for price to close below this level and look for the first bar with a lower swing high and a lower swing low
  4. Sell on break of the swing low with stops at the high
  5. Set take profit to 1:1 and 1:2 risk/reward set up
Gann Swings MT4 Indicator Short Entry Rules
Gann Swings MT4 Indicator Short Entry Rules

In the above chart the short position is taken based on the rules outlined.

Improving trading performance with Gann swings MT4 indicator

  • There is a higher probability of winning trades when focusing on a bar close below the entry point instead of looking at high/low. However, such set ups come at a risk of price continuing its direction without any pullbacks.
  • The zig-zag that is formed can at times repaint. Therefore traders need to be patient. This can be overcome by waiting for the previous Gann swing high or low being broken

Overall, the Gann swings MT4 indicator can be a good mechanical trading system that can be used to scalp the markets or trade the short term swings. The indicator works best on H1, H4 and daily time frames.

Recommended Time Frames for the Gann Swings MT4 Indicator

Technically speaking, you can use this MT4 indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the 4H for better consistency.

Gann Swings MT4 Indicator Download

We have provided this powerful trend trading indicator to you at no cost. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link, you just need to share this page to help us achieve our goal of helping more traders out there.

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Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey.

And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot. We highly recommend this powerful MT4 Expert Advisor.

Visit our Free MT4 Indicator Download page. We hope you have enjoyed this post as much as we have creating it. Good luck and thank you for your readership.

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