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Value Chart
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=612
Forum: 17 · Topic 612 · 7 post(s)
Value Chart
Nikolay.Gekht · Sun Apr 11, 2010 8:56 pm
The value chart indicator is developed by David Stendhal.
He has explained the indicator in his interview to TradeStation Technologies Inc.
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.
Read the full interview text for details about this indicator and it’s usage: http://www.chartresearch.com/TSInterview.htm
The formula of the indicator is: OPEN = (OPEN - MVA(TYPICAL)) / (ATR / ATR_N) HIGH = (HIGH - MVA(TYPICAL)) / (ATR / ATR_N) LOW = (LOW - MVA(TYPICAL)) / (ATR / ATR_N) CLOSE = (CLOSE - MVA(TYPICAL)) / (ATR / ATR_N) TYPICAL = (HIGH + LOW + CLOSE) / 3
Download:
The indicator was revised and updated
Re: Value Chart
keyrama · Wed Nov 17, 2010 9:05 am
Excuse me but, In the formula, what does the ATR_N stands for, and why it doesn’t seem to be implemented in the code ?
I’m not syaing it’s an error, I just want to undersand.
Thank you !!
keyrama
(btw, great indicator)
Re: Value Chart
Apprentice · Wed Nov 17, 2010 1:02 pm
ATRN represents the number of periods to calculate the ATR
This parameter is used in line 36, when establishing the call for ATR indicator.
ATR = core.indicators:create(“ATR”, source, N);
Re: Value Chart
keyrama · Mon Jan 10, 2011 4:41 am
Hello,
since the new marketscope version, value chart indicator has lines at 8 4 -4 -8. You can’t remove them and it’s really annoying especially if you set the indicator at a higher number of periods.( because these levels are fitted (kind of…) only at periods=5. )
Thank you for adding an option to remove them !
Re: Value Chart
Apprentice · Mon Jan 10, 2011 5:56 am
Show Line Option Added.
Re: Value Chart
keyrama · Mon Jan 10, 2011 6:15 am
Thanks !
Re: Value Chart
Apprentice · Sun Feb 12, 2017 7:16 am
Indicator was revised and updated.