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You have to learn how to use the tool. In this pic i use Fibonacci channel but i customize the tool to show 8 levels (Applying Gann concept of octaves) and as you see is a downward move.
Does anybody have an indicator that will draw gann angles at the rate of 1 pip per bar ( 1/1 angle ), 2 pips per bar ( 2/1 angle ), 4 pips per bar (4/1 angle) etc?
I know Metatrader has a gann angle tool but to use it properly you have to fix the scale on the chart but this just brings in new problems.
Drawing the angles at a "rate per bar" gets around the scaling problems especially when changing time frames.
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i found this chart somewhere.
and it shows some fibo tool for time-prejection.
let me know if you have it for MT4.
I made a bold black line around the tool that I seek.
by the way, regarding my post above. I searched on onix website and i found the guys have the same chart and some indicators about it, i don't understand russian, so i must have downloaded the wrong one, it doesn't work.
hi 
Linear Mode
