According to the observation of W.D. Gann, Murrey Math Line X technical analyses system is based upon the concept that all markets behave similarly. T. Henning Murrey developed the indicator in 1995. It is described in The Murrey Math Trading System.
How to trade with Murrey Math Line X
The Murrey Math Line X uses a price movement segment that is divided into nine sections. The proportions are divided at 0%, 12.5% and 25% respectively, as well as 37.5% and 50%. 62.5%, 75%. 87.5%, 100% and indicated by lines 0/8-8/8.
Line 1/8: It's a weak line. There is a good chance that the price will rise if it falls below this line. If the price doesn't stop, it will keep moving towards the zero/8 line.
Lines 2/8 & 6/8: These are two very strong levels that can reverse price movements and are only slightly weaker than the 4/8 line.
Line 3/8 This is a strong level to avoid the downside. We can expect the price to trade higher above the line of consolidation between the 3/8-5/8 levels if it hits it but fails to break it within two trading weeks.
Line 4/8: It Is a key line. It offers the greatest support and resistance.
Line 5/8: The best opportunity for a short time is between the 3/8- and 5/8 levels if the price fluctuates below the 5/8 line over the course of about two weeks. If the price falls below the 5/8 level, it will likely fall further to the next resistance level.
Line 7/8: This is the lowest resistance/support level. It is possible that the price will fall if it stops at this line. If the price doesn't stop, it will continue to fall towards the 8/8 line.
Lines 8/8 & 0/8: Strong levels that provide great support and resistance.
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How to Download and Install Murrey Math Line X
How to install your indicator on MT4 platform:
1. Click on Download button below;
2. Save the file to your computer;
3. Move the .ex4 file into the following folder: meta traderexpertsindicators;
4. Restart your Metatrader platform;
5. Click the “Indicators” button in Metatrader toolbar;
6. Select “Custom”;
7. Search and select “Murrey Math Line X”;
8. Adjust settings or press OK to add the indicator to your selected chart;
Note: Murrey Math Line X is developed by T. Henning Murrey and was sent by an AtoZ Markets follower from the United States, Jon. AtoZ Markets does not carry any copyrights over this trading tool.
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