Introduction to the Value Charts Indicator
Okuqukethwe
The Value Charts Indicator was developed by David Stendahl to help traders identify mean reversal signals from extreme price levels. It is based on the concept explained on the book “Dynamic Trading Indicators: Winning with Value Charts and Price Action Profile” by Mark Helweg and David Stendahl.
What is the Value Charts Indicator?
The Value Charts Indicator is an oscillator type of technical indicator which indicates the direction of momentum, kanye namanani entengo ethengwe ngokweqile nangaphezulu.
This indicator plots bars that oscillate within a range that has a normal value between -8.00 futhi 8.00. The bars that it plots is not exactly the same as with the regular oscillators. These bars have points which represent the average of the open, high, ongaphakeme, and close of the average price movements. The point corresponding to the average of the open is on the left of each bar, while the point corresponding to the close is on the right of each bar.
The colors of the bars also indicate momentum direction, as well as overbought and oversold markets. It plots green bars to indicate a bullish momentum, red bars to indicate a bearish momentum, and blue bars to indicate oversold and overbought markets.
The range of the Value Chart is also marked at levels -8.00, -6.00, 6.00, futhi 8.00. The normal range is between -6.00 futhi 6.00. Noma kunjalo, the levels below -8.00 khombisa imakethe ethe xaxa, while levels above 8.00 khombisa imakethe ethengwe ngokweqile.
How the Value Charts Indicator Works?
The algorithm of the Value Charts Indicator calculates for the “Range Average” which is the average difference between the high and the low. It also calculates for the “Middle Average” which is the average of the high and the low. It then extrapolates further calculations based from the values above, which is then used to plot the range of each bar, as well as its significant points which represent the average of the open, high, ongaphakeme, naseduze.
The color of the bars changes to blue whenever the high or low of a bar breaches the -8.00 futhi 8.00 uhla. It changes to red whenever it detects a bearish momentum, and green whenever it detects a bullish momentum. It also plots reversal arrows whenever it detects a breach of the said range.
How to use the Value Charts Indicator for MT5
The Value Charts Indicator has a few options within its settings which can modify its characteristics.
“Periode” refers to the number of bars the indicator uses for its calculations.
“Show_Arrow” toggles the arrow signals on and off.
“Arrow_Width” modifies the size of the arrow.
“Arrow_Up” and “Arrow_Down” modifies the color of the arrow signals.
Thenga ukusethwa kwezohwebo
Ungena nini?
Open a buy order as soon as a bar changes to green coming from a blue bar dropping below -8.00.
Uphuma Nini?
Allow the bars to swing above 8.00 and close the trade as the bar changes to red.
Thengisa ukusethwa kwezohwebo
Ungena nini?
Open a sell order as soon as a bar changes to red coming from a blue bar breaching above 8.00.
Uphuma Nini?
Allow the bars to swing below -8.00 and close the trade as the bar changes to green.
Isiphetho
This indicator is a very reliable mean reversal signal indicator. Noma kunjalo, the signal arrows should not be used as a confirmed mean reversal signal as these signals form as the bars breach the normal range. Reversals are better based on the changing of the color coming from extreme levels.
Value Charts Indicator for MT5 is a Metatrader 5 (MT5) inkomba kanye nengqikithi yale nkomba yezobuchwepheshe ukuguqula idatha yomlando onqwabelene. Value Charts Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Ngokusekelwe kulolu lwazi, abathengisi bangathatha ukunyakaza kwentengo okuqhubekayo futhi balungise isu labo ngokufanele. Chofoza lapha ukuthola amasu we-MT5 >> Funa i-Your $50 Ibhonasi Lapha << Chofoza Lapha ukuze uthole Umhlahlandlela Wokuvula we-akhawunti ye-XM yesinyathelo ngesinyathelo Chofoza lapha ngezansi ukulanda:Izinkomba ze-MT5 – Landa Imiyalo
Kunconywe Forex MetaTrader 5 Ukuhweba Platform
#1 – Imakethe ye-XM
#2 – Pocket Option
How to install Value Charts Indicator for MT5.mq5 to your MetaTrader 5 Ishadi?
How to remove Value Charts Indicator for MT5.mq5 from your Metatrader 5 Ishadi?
Inkomba Yamashadi Amanani we-MT5 (U-downloader mahhala)
