Murrey Math Lines
Murrey Math Lines are a set of horizontal support and resistance levels developed by T.H. Murrey, based on dividing price ranges into octaves of eight equal parts, with each line assigned a specific behavioural description relating to how price has historically interacted with it.
T.H. Murrey adapted Gann's square theory into a systematic, mechanical framework for generating support and resistance levels. The Murrey Math system divides any price range — defined by a 'Murrey Math frame' of a specific time period — into eight equal horizontal sections, labelled 0/8, 1/8, 2/8, 3/8, 4/8, 5/8, 6/8, 7/8, and 8/8 from bottom to top. These eight levels are the Murrey Math Lines (MML).
Each level carries a prescribed behavioural description. The 8/8 line (the top of the frame) and the 0/8 line (the bottom) are described as the hardest lines to break through: price that reaches 8/8 historically tends to reverse downward, while price at 0/8 tends to reverse upward. The 4/8 line (midpoint) is considered the most important pivot: a strong magnet for price when it is above or below, and a reliable dividing line between bullish (above 4/8) and bearish (below 4/8) regimes. The 2/8 and 6/8 lines are the next most significant, described as the second and third strongest reversal zones respectively. The 3/8 and 5/8 lines are where price tends to stall if trending, and 1/8 and 7/8 are considered weak lines through which price tends to pass with relatively less resistance.
Murrey also described lines beyond the standard 0/8 to 8/8 range: the -1/8 and -2/8 lines below 0/8, and the +1/8 and +2/8 lines above 8/8. These are called overshoot lines and represent extended overbought or oversold conditions — territory where price has historically struggled to sustain itself.
The Murrey Math frame is recalculated periodically (commonly at fixed time intervals or when price breaks above 8/8 or below 0/8, triggering a frame shift). This makes the system dynamic: as price action evolves, the reference frame and all eight lines shift to encompass the new price range.
In Indian equities, Murrey Math Lines are a niche tool used primarily by a community of traders who work with Gann and geometric analysis frameworks. The system can be applied across any time frame — intraday charts of Bank Nifty, daily charts of individual Nifty 500 stocks, or weekly Nifty 50 charts — though the quality of signals is historically considered better in liquid, trending markets than in choppy, low-volume ones.