Click image below to enlarge
KG level made by Kang Gun, trader from Bandung, Indonesia. He is my favorite forex mentor. KG level made use Fibonacci retracement level, but by KG it has change and now it more powerfull. KG level discribe price wave. You can see it retrace or reversal. It also combine by elliot wave, but actually its KG wave...hehehe..
Here is Setup for Your Metatrader:
1. Insert Fibonacci Retracement to your chart (basically KG level put it from HIGH to LOW)
2. Click Fibonacci Retracement properties
3. Choose Fibo levels, now you see two colums "level" and "descriptions"
4. Errase level from the "level" colums until empty,
5. Fill "level" colums use this KG level below:
Level Descriptions
2.00 [SD +3.0] %$
1.75 [SD +2.5] %$
1.50 [SD +2.0] %$
1.25 [SD +1.5] %$
1.00 [SD +1.0] %$
0.75 [SD +0.5] %$
0.50 [BALANCE] %$
0.25 [SD -0.5] %$
0.00 [SD -1.0] %$
-0.25 [SD -1.5] %$
-0.50 [SD -2.0] %$
-0.75 [SD -2.5] %$
-1.00 [SD -3.0] %$
6. Click OK, now you get the KG level hehe...
How to use?
After edit your Fibo retracement, now you can use KG level by put it to your chart based on HIGH price to LOW price from your chart. You can see from my example picture above...
From KG level you can describe the price movement based on:
- Retrace small, retrace happens when the price moves by 0.5% from the peak or valley 1 / 2 the previous wave.
- Retrace normal retrace happens when the price reaches Balance moved from the top or from the valley.
- Retrace Medium, retrace that occurs when the price moves of 1.5% from the peak or valley 1 / 2 the previous wave.
- Retrace the Great, retrace what happened when the price moves of 2% better than the peak or valley 1 / 2 the previous wave and in other words the price back to the peak or valley value 1 / 2 the previous wave.
Then we define the Reversal if the price moves more than 2% better than the peak or valley 1 / 2 the previous wave.
Now, how do you think?
