empty

The concept of this technical analysis system was developed by T. Henning Murrey in 1995 and described in The Murrey Math Trading System; For All Markets. The main concept here is that all markets behave in the same manner based upon the observations made by W.D. Gann. To date, the Murrey Math Line X it is one the most popular methods of Forex analysis and trading.

Formula

The Murrey Math Line X is calculated with the help of price movement segment, which, in accordance to Gann, is divided into 9 sections. So, the indicator makes 9 levels in the proportion of 0%, 12.5%, 25%, 37.5%, 50%. 62.5%, 75%. 87.5%, and 100%.

Trading use

The Murrey Math Line X is a complex indicator, which may be applied independently or together with other methods of technical analysis. It has become popular in Russia.

The indicator contains several lines from 0/8 to 8/8. Every line has its own operating conditions. Some of them act as points of price support and resistance, the other ones, as a magnets for price.

Line 1/8. This is a weak line. If a price declines too fast and stops near this line, there is a high possibility that it will reverse upwards. If a price does not stop near this line, it will continue moving to the 0/8 line.

Lines 2/8 and 6/8. These two lines are very strong levels of resistance and support and are inferior only to the 4/8 line in their ability to reverse the price movement.

Line 3/8. If a price is below this line and goes up, so it will be difficult for it to break this level. If a price hits the level of 3/8 and stays there for two trading weeks, so it will stay above the line and spend some time moving in the 3/8-5/8 corridor.

Line 4/8. This is a key line; it provides the best support or resistance.

Line 5/8. If a price moves around the 5/8 line and stays near this line for about two trading weeks, so the best selling level is between the 3/8 and 5/8 lines. In case a price falls below the 5/8 line, it will probably will drop further until the next resistance level.

Line 7/8. This is the weakest resistance/support level. If a price slides too fast and stops at this level, it is likely to reverse downwards. In case a price does not stop near the line, it will move up to the 8/8 line.

Lines 8/8 and 0/8. These are the strongest levels; they provide great resistance and support.

Murrey Math Line X

InstaForex Murrey Math indicator's parameters

P = 64

MMPeriod = 1440

StepBack = 0

Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.