Helweg/Stendahl value charts ... - page 8

This is the earlier version with the moving averages and alerts changed out the moving averages with Jurik and Oma.

I concur, thanks to mladen and SIMBA for great coding and ideas..!

It's a great indicator (DZ version) to determine OB/OS levels, faster than any RSI/STOCH/etc would/could.

Few questions:

• newdigital, thanks for posting your findings. I studied your statements and you either have very fast fingers or have automated this? Positions open and close every so many seconds, see screenshot below. How did you accomplish this? Fantastic work but I am not sure I can trade that fast...? I plotted some of your trades on a chart. With default settings, it looks like only a few entries were indeed matching with the ValueChart indicator. Curious to know how you traded this.
• mladen: how did you obtain the default values? As per definition in his book? (Thanks for posting the book btw).

Been playing with the indie and studied the numberOfBars and DZ_LookBackBars settings for EURUSD. Somehow I keep reverting back to default as seemingly being the optimal settings (although 15 does nicely as well), but curious to know if others here have done the same studies and what their findings are.

• Is the Price Action Profile process he speaks about in his book similar to regular Market Profile indicators?

Cheers, San.

Mladen,

Dynamic zone value chart is one of the best I have been using so far. I was however wondering if it could be further improved based on the recent market experience. Since August 10, equity markets (such as S&P500) have been trading in a range +/- 10% over 5 to 10 day cycles. Value chart on D1 caught these short-term cycles quite well although not always moved into the red/blue zone at the end of the swing leaving false impression that the trend might continue while it abruptly changed direction. I wonder if it can be improved, so that on D1 each of the swings penetrates the zone and moves back. It then would be easier to buy or sell momentum in the direction of the trend. Would you give it a thought please.

You can adjust the indicator to match recent market conditions by changing the values for "numberOfBars" and "DzLookBackBars".

If you reduce the numberOfBars, you'll see the 'swings' will become more 'volatile' in the indicator, and that might just do the trick.

IMO, this is not a coding issue, it's merely a matter of adjusting the variables to match the current market. Hope that helps.

Cheers, San.

Indeed!. Thanks.

value chart with Fibonacci levels

Hi Mladen!

Is it possible to make a value chart with Fibonacci levels?, or is it another osilator that have fibo levels on??

Best regards

Halvard

Hi Mladen,

Would you be able to add the option of how many bars/days back that the value chart indicator displays. The reason for my request is that I have several instances of the indicator on each of the eight charts I have open. When I start MetaTrader, the program takes awhile to start. I assume by limiting the number of bars/days drawn this would likely shorten the start-up process. Currently, my max bars in chart is set to 5000.

As always, Thank You!!!

-spotforex

Hi Mladen,

I apologize for not making this request earlier, but would you be able to also add the barsToDisplay option to the Dynamic zone value chart version as well?

Thanks again!

-spotforex

dynamic_zone_value_chart_-_choosable_symbol_amp_alert_amp_arrows.mq4

Sparkling Value Charts

Hi Mladen,

I was overlaying several of your line-version Value Charts with differing lengths searching for some extra information/pattern. I noticed some of your postings in the Elite section regarding multiple lookback periods and was wondering if there would be any value in creating a Swami Value Chart. If so, could you include my typical bells and whistles too such as ForSymbol and Invert options.

As always, Thanks!

-spotforex

...

Maybe I had to explain in more detail what exactly are swami charts doing exactly (and then it will be easier to see what value charts can not be converted to swami chart)

Here is an example of a 1 hour swami stochastic :

Now if we take a bit different presentation of the same thing, everything is cleared up. Here is a presentation with some space between the values that are actually presented, which immediately takes a familiar form of some known indicator :

lowest line are colors for values (as a gradient in 0-100 range) for stochastic 6 and highest line are colors for values for stochastic 48. We had similar things in metatrader before but (due to metatrader limit of 8 drawing buffers) we usually were having 4 lines showing 4 different values. Swami charts are taking that old idea to extreme (adding some different normalization to some indicators that need to be normalized into a range translatable to gradient color)

Value chart on the other hand, have a specific way of sampling. If we try different sampling (sampling lengths, to be exact) then the +8 -8 range (or using dynamic zones that are adding a bit of flexibility for those ranges) that is probably the most valuable property of it will be lost and it will become something else (not a value chart at all). I have seen some version of value chart that failed to honor the +8 -8 range, and I can tell you that they are hardly usable to anything (higher time frames being worthless on some implementations)

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In my opinion, the most valuable feature in swami indicators is not the coloring itself (even though it gives you an ability to quickly estimate some things) but the "generic" value (which des nt exist in the original at all). I know that there can be better ways of constructing "generic" value, but even as a simple average of values, it is tending to reflect the price change remarkably well. And, since they are normalized into a 0-100 range, it makes them "usable as signal"