Value Charts Deluxe Edition Indicator V1.0

 Value Charts Deluxe Edition Indicator V1.0

The Value Charts Deluxe Edition Indicator V1.0 is a powerful tool for MetaTrader 4 (MT4) traders. It helps identify continuous market cycles by defining high and low points in price action. By visualizing major turning points, it reveals where the market value lies.

Key Features:

1. Market Valuation:
   • The indicator calculates and normalizes price movements within the range of -15 to 15.
   • It uses values such as Market Value Added (MVA) and Average True Range (ATR) to plot the bars.
2. Efficient Performance:
   • Unlike some other Value Chart indicators, this version does not tax your terminal by deleting and creating all Value Chart bars on every tick.
   • It updates only the Value Chart bars that have changed, allowing you to use it on multiple charts without performance issues.
3. Customizable Parameters:
   • Adjustable Value Chart bar and wick color, width, and overbought/oversold area settings.
   • Built-in alerts with customizable levels.

Trading Strategy:

The Value Charts Deluxe Edition Indicator V1.0 works well as an addition to an existing strategy. Here’s an example:

1. Combining with Stochastic Oscillator:
   • Use the Value Chart alongside the Zero Lag Stochastic (set to 5,3,3) or a standard stochastic (set to 3,3,5).
   • Consider the following signals:
     • Sell Signal:
       • Stochastic crosses above the 80 level.
       • Value Chart is between 8 and 10.
     • Buy Signal:
       • Stochastic crosses below 20 and heads up.
       • Value Chart is between -8 and -10.

Recommended Timeframes and Currency Pairs:

• Timeframes: M1 and M5
• Currency Pairs: XAUUSD (Gold/USD) and EURUSD (Euro/USD)

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