Re: Mini Chart & Value Chart Display Indicators MT4

61
Attachments
These users thanked the author Jedidiah for the post:
Chickenspicy
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


Re: Mini Chart & Value Chart Display Indicators MT4

62
Value Charts and Price Action Profile


Author: *** UPDATE *** see below

Programming by William Kreider (madhatt30) but the original Value Chart was developed by David Stendhal.

The Value Chart was developed to show the valuation of the market.

The Value Chart could be described as a DeTrended Oscillator in which the higher or lower the value on the Value Chart the more likely it is to reverse direction.

Unlike other Value Chart Indicators you may be able to find there has always been one huge problem with it and that was that it really taxed the terminal by deleting and creating ALL Value Chart Bars on Every Tick. This Indicator does not have that issue so it will not tax your Terminal.This indicator updates only the Value Chart Bars that have changed. So you are free to put it on multiple charts.

Additional features:

Adjustable Value Chart Bar and Wick Color, Bar and Wick Width, Adjustable overbought and oversold area and color, Built in Alert and alert levels.
You WONT find anything else like this and best of all I'm giving it away.
This indicator works on any standard timeframe.
This indicator is not designed to be traded alone in fact it works great as an addition to an existing strategy. For example using the Value chart with the Zero Lag Stochastic set to 5,3,3. If you don't have Zero Lag Stochastic you can use a standard stochastic set to 3,3,5. when the Stochastic crosses above the 80 level and the Value chart is between 8 and 10 consider a sell or if the stochastic is crossing below 20 and headed up and the Value Chart is between -8 and -10 then consider a buy. I trade 60s Binary options with this strategy and it works great.
Input parameters:

extern int NumBars=5;
extern color Bullish_Color=LimeGreen;
extern color Bearish_Color=Red;
extern color Actual_Color=Yellow;
extern string Note0="**** VC Bar Width ****";
extern int Wick=2; * The width of the VC Candle Wick
extern int Body=6; * The width of the VC Candle Body
extern string Note1="**** OB/OS Levels ****";
extern int OBHigh_Upper=12; * Top of the OverBought Area
extern int OBHigh_Lower=8; * Bottom of the OverBought Area
extern int OSLow_Upper=-8; * Top of the OverSold Area
extern int OSLow_Lower=-12; * Bottom of the OverSold Area
extern string Note2="**** OB/OS Level Colors ****";
extern color OBHigh_Color=C'255,164,177'; * OverBought Area Color
extern color Normal_Color=C'5,116,5'; * Normal Area Color
extern color OSLow_Color=C'255,164,177'; * OverSold Area Color
extern string Note3="**** Alert Settings ****";
extern bool useAlerts=false;
extern int NumLevels=4;
extern int level1=10;
extern int level2=-10;
extern int level3=11;
extern int level4=-11;
extern int level5=10;
extern int level6=-10;
Value Chart Deluxe Edition

Recommendations:

Quick Strategy:

Use a Keltner Channel with default setting

Stochastic 5,3,3 (Preferably Zero Lagg)

Value Chart Deluxe Edition (Default Settings)

Good luck and by all means drop me a message if you like this indicator or if you have an indicator for another platform that is not available for MetaTrader 4.

** UPDATE ***

Additional options for levels and code fix

**** UPDATE ****

New version Value Chart Deluxe Edition v1.0.2

Whats New in this version

1. The annoying bug of candles being drawn past the current bar has NOW been fixed. (I back tested and forward tested this for a week and the forward test works great but backtest does not)

2. The normal area (green color) can now be customized (Set all Color fields to NONE if you don't want colors)

3. Added new parameter; BarsBack=1000 to specify how many bars back to draw colored areas. set to 0 for all bars

4. Added new parameter; useExtern=false; Set to true to use this indicator externally by way of iCustom. That's right you can have access to the Value Chart from another indicator by using iCustom

for example

iCustom(NULL,0,"Value Chart Deluxe Edition v1.0.2", 5,"",true,0,0); *VC Bar High

iCustom(NULL,0,"Value Chart Deluxe Edition v1.0.2", 5,"",true,1,0); *VC Bar Low

iCustom(NULL,0,"Value Chart Deluxe Edition v1.0.2", 5,"",true,2,0); *VC Bar Open

iCustom(NULL,0,"Value Chart Deluxe Edition v1.0.2", 5,"",true,3,0); *VC Bar Close

5. Additional Code Cleanup

I've attached the new version of this indicator be sure to download v1.0.2 as it is the latest release
These users thanked the author Jedidiah for the post (total 4):
Chickenspicy, annadurai, SijjiN, Woodyz
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Mini Chart & Value Chart Display Indicators MT4

63
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Mini Chart & Value Chart Display Indicators MT4

64
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Mini Chart & Value Chart Display Indicators MT4

65
These users thanked the author Jedidiah for the post:
SijjiN
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


Re: Mini Chart & Value Chart Display Indicators MT4

68
- buy when oversold ("lower" zones);

- sell when overbought ("upper" zones);

- taking onto consideration the colors of the bars on selarate window for value chart indicator, and support/resistance/trendlines of MaksiGen_Range_Move indicator (main chart window);

- trade with stop loss and take profit values (for every trade - with sl and tp);

- trade from 20 minutes till 1 hours per day, mainly between 3 to 7 or 8 GMT time (before any forex news events' time);

- trade the pairs with low spread;

- do not trade very volatile pairs;

- be on the market as less time as possible (the time from open the trade till close this trade should be minimal);

- trade 1 pair only at the time;

- start with 0.01 lot size, max lot size as 0.1 (or 0,1 to 1 depends on your deposit size); always use many management. Because those "up-down" or "down-up" zigzaging lines of value channel indicator can be on any level of the price. And it can be few pips only from enter to exit (and spread can "eat" those pips - you can see some first trades on my statements with loss).

- I used stop loss as 100 pips and take profit as 35 or 25. But I closed the trades earlier than take profit was taken. Just to be on the market as less time as possible (to reduce the risk).

- timeframe: M1 or M5.

- switch the brain off during the trading to become disconnected from the surroundings

The rules are obvious and well-known for scalping.
Attachments
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Mini Chart & Value Chart Display Indicators MT4

69
Options added : symbol to use in calculations, inverting the chart and dynamic zones tags addition. Symbols used can be any valid symbol. If left empty or invalid symbol is entered, current chart symbol is used. Inverting inverts the values using 0 as an axes of inversion (not the dynamic zone "0" in this case, but the "real" 0). After that all the values are calculated (including the dynamic zone 0) Inverting is not limited to "foreign" symbols only. You can invert the current chart symbol too. Here is an example of such a case

Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Mini Chart & Value Chart Display Indicators MT4

70
here is a versions with alerts and arrows. Alerts and arrows are showing first break of top or bottom level. Since this indicator allows inversion too, be careful when "invertChart" is set to true
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


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