Helweg/Stendahl value charts ... - page 15

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Got sick of waiting for metatrader 5 to correct errors causing almost every indicator in the last two days not to work, so decided to give a try to metatrader 4 version (along with a fact that some friends of mine told me about a commercial version of this and when we compared the two it turned out that the basic property of this indicator : the ranges between 8 and -8, is not honored in the one they had)

So here it is

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magicNumber-> this one is here for one reason and one reason only : to make possible placing two or more value chart indicators on the same chart. So use it to make difference between indicators, and that way they can "know" which is the window where they have to draw bars (this way you can get something like the first picture)

numberOfBars-> period for which to calculate value chart

showLineChart-> if true, it will display line instead of bars (like the second picture)

color... -> these are rather straight forward and their purpose is to set colors of bars

widthWick -> width of the bar wick

wickBody -> width of the bar body

linePrice-> price you want it to draw. It can be :

0 - close

1 - open

2 - high

3 - low

4 - median (high+low)/2

5 - typical (high+low+close)/3

6 - weighted (high+low+close+close)/4

ma1Period-> if set to >1 it will draw average on the chart ma1Type-> type of average to calculate. It can be :

0 - simple moving average

1 - exponential moving average

2 - smoothed moving average

3 - linear weighted moving average

ma1Price-> the price to use (see linePrice for details)

ma2Period-> if set to >1 it will draw average on the chart

ma2Type-> type of average to calculate (see ma1Type)

ma2Price-> the price to use (see linePrice for details)

So, as a conclusion : the main problem I told about which made it "not good" on metatrader 4 is solved with magicNumber (automatic addition of some random number fails in cases of templates and in cases when metatrader is not properly closed) so now you can use it without restrictions. Also, from now on (but that is more conclusion for myself ) first version 4 and then version 5. ND and me, we are waiting the last 2 days that someone notices that nothing works in version 5 of metatrader and still no reaction, so, from now on first the one that will work for sure and then the rest

Good book.

Good book and very good chart. Me am fanboy now

This is another version of dynamic zone value chart with the addition of the option of the 30 different average types with arrows and alerts on ma crosses and the bars entering and exiting the outer dynamic zones.

Dynamic zone Value chart averages arrows + alerts.ex4

Nice thanks

really good one. thanks

krelian99:
Dear Mladen, Is it possible to apply divergences to the value chart as on the pic? They are all over the place and it would be much less work to draw them handish (yes, I forgot to draw some divergences

krelian99

I am nor sure

Will try to do it and will let you know

krelian99:
Dear Mladen, Is it possible to apply divergences to the value chart as on the pic? They are all over the place and it would be much less work to draw them handish (yes, I forgot to draw some divergences

Good idea !!!

Yes, thanks. Maybe a very fast EMA for High and one for Low.

Dear Mladen,

Is it possible to apply divergences to the value chart as on the pic? They are all over the place and it would be much less work than to draw them handish (yes, I forgot to draw some divergences