Dynamic Square of 9
The Square of Nine Chart was used extensively by W.D. Gann in determining price targets. The lines created using the Square of Nine often reveal support and resistance in the market. This tool is dynamic in that the starting point is user defined, whereas the Static Square of 9 tool always starts from a value of one.
To read more about this tool and how it is calculated please click here.
The image below shows the Dynamic Square of 9 tool from the 175 low in Boeing with each 360 degree level (in red) creating significant support and resistance levels, including the all-time high at $370 (as of February 2018).
To add the tool to your chart, select the tool from the Gann tool group, and left-click on the bar on the chart you wish to calculate the tool from. Next, extend the lines and left-click again where you want it to end. Optuma will then draw the tool using the default settings.
Actions & Properties
Add Price Alert: Selecting this action will set a Price Alert at the value the Horizontal Line is positioned.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Dynamic Square of 9 tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Dynamic Square of 9 tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Dynamic Square of 9 to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows the name of the tool to be changed, as displayed in the Structure Panel.
Square of 9 Angles: Click on this option to display the different levels.
To add a new angle to the chart, left-click on the blue + button and enter the values as needed. To delete a level left-click on the red (x).
- Value - Sets the levels in degrees (e.g. 90 is 90 degrees around the Square of Nine chart). To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line colour, style, width and transparency of the levels.
- Visible - To hide a level, deselect the check box with the green tick.
Use Chart's Price Unit: By default, the price unit of the chart is used in the tool calculation. Untick the box to manually adjust the value in the Price Unit property.
Price Unit: This option is available when the Use Chart's Price Unit box is unticked (see above). Enter a new value to manually determine what one unit of price is equal to in the tool's calculation (eg 0.1).
Apply Price Unit to Chart: When this box is checked all Gann tools added to the chart will be automatically calculated using the same Price Unit.
Revolutions: The number of 360-degree cycles around the Square of Nine Chart.
Factor: Multiplies the magnitude between the levels. For example, if starting the Dynamic Square of 9 at 1 with a Price Unit of 1 and a Factor of 1, the first 360-degree line will be drawn at 9. The difference between the starting point (1) and 9 is 8: changing the Factor to 2 will double this to 16 and added to the starting point will draw the 360-degree line at 17.
Extend Left: Check this box to extend the degree levels to the left.
Extend Right: Check this box to extend the degree levels to the right.
Show Prices: This provides an option to show or hide the price and degree values for each level.
Label Alignment: You can elect to display the labels in different positions in relation to the levels. There are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.
Font Size: Allows you to adjust the size of the text displayed for each label. Moving the slider bar to the right increases the font size.
Centre Start Price: Tick this box to calculate the levels with the starting price at the centre of the Square of Nine chart. If unticked the default centre start price is 1.
Base Line Style: Allows you to adjust the style, width, colour and visibility of the horizontal and vertical baselines.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.