Re: Mini Chart & Value Chart Display Indicators MT4

13
zzleepy wrote:Any help on this? Looking for an mq4 that displays mini charts for different pairs in the subwindow. 
Here are two Mini Charts that should fit your needs. Give them a try.
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Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance

Re: Mini Chart & Value Chart Display Indicators MT4

15
The indicator displays the trend-adjusted price activity of a security. It Oscillates around the Zero-line and is displayed as a Candlestick Chart.

Basic
Value Charts are a special kind of approach to analyse a security based on the strength of its trend. There are already a large number of indicators dividing a market into oversold or overbought phases. The Value Charts Indicator uses a process-intensive mathematical analysis to perform this task, separating the calculation period into various cycles and comparing the price extremes found there. The values obtained are smoothed and displayed separately in a bar or candlestick chart for each time period. This is why the indicator itself also appears in a candlestick chart.

Calculation and Parameter
The Calculations are highly complex and can not be described in a few sentences. Those who have time can study the Source Code of the indicator to understand the individual calculation steps.

Interpretation
Irrespective of the chart period used, there are two universal scale values - on the basis of which an estimate concerning the trend strength can be made. If the indicator reaches the upper levels, the market is considered to be overbought, if it reaches the lower ones, it is oversold.
The Candlesticks can help determine reverse trends in extreme zones, thereby providing additional confirmation. The location of the extreme zones must only be adjusted if the calculation period is expanded against the default setting by a large factor.

Parameter description
NumBars - Provides the calculation period in chart periods.
Bullish_Color - Determines the colour of the Positive Candlestick of the indicator.
Bearish_Color - Determines the colour of the Negative Candlestick of the indicator.
Upper_Zone - Determines the position of the Upper extreme zone.
Lower_Zone - Determines the position of the Lower extreme zone.

Sources : "Dynamic Trading Indicators", David Stendahl | Mark Helweg
[*] Stendahl interview wrote :

Traditional bar charts may not provide the information traders need to make appropriate trading decisions. Value Charts represent a market analysis tool that allow traders to trade stocks, bonds and futures with additional poise and confidence. It's a different view of the markets because they were developed to display the valuation of the market.
Always looking the GREAT, never left GOOD Point...


Re: Mini Chart & Value Chart Display Indicators MT4

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Value chart Oma & alerts nmc
Here is an One More Average based Value Chart OMA with alerts - show line chart true/false option
In picture the lowest one
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Jedidiah
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.


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