The idea of a Value Chart indicator was presented in the very good book I read back in 2020, “Dynamic Trading Indicators: Winning with Value Charts and Price Action Profile”, from the authors Mark Helweg and David Stendahl. The idea is simple and the result is pure genius: Present candlestick Price analysis in a detrended way!
HOW TO READ THIS INDICATOR
- Look for Overbought and Oversold levels. Of course, you will need to test the settings a lot to find the “correct” one for your approach. It all depends on the Symbol you are studying and the timeframe also.
- Look for Divergencies, this indicator is powerful on this subject.
- Explore!
SETTINGS
- Period of analysis
- Light up candles that reach the maximum threshold?
- Overbought and Oversold levels
- Show dots on the chart when the overbought and oversold levels are reached.
- Dot styles…
Enjoy!
If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)…
This will mean A LOT to me… And this way I can continue to give away Cool Stuff for Free…
With No Strings Attached! Ever!
Live Long and Prosper!
😉
Get your FREE indicator HERE…
Ola, esse indicador Value Chart Candlestick é muito bom. Será que no ProfitChart da Nelogica ficaria igual?
Tem como fazer um teste? desde ja agradeço sua atenção Flavio.
Muito obrigado pelos indicadores do MT5 que disponibiliza.
Olá Rogério!
Não faço ideia, deixei de usar o Profit… ele tem uma linguagem muito engessada…
😉