Value Chart Indicator

v10.3
Value Chart Indicator

Here is the value chart indicator coded for the new ProRealTime v10.3 with custom candles made with DRAWCANDLE and alerts BUY/SELL arrows.

This indicator draw candlesticks over a normalized scale created dynamically from the last highest/lowest values over n period. It attempts to spot market oversold and overbought area on a short time scale, when price would revert to its mean value.

This kind of indicator is well used in binary options trading, in many different strategies.

When price make rebound over the oversold/overbought levels (candle spike rejection), arrows are drawn to specify trades entries.

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. ALEALE • 04/23/2016 #

    dear Nicolas,
    I can’t copy indicator , could you help me?

    • Nicolas • 04/23/2016 #

      Why not? You can also download the itf file and import it directly into the platform.

  2. didierlfvr@aol.com • 04/23/2016 #

    Does it work only with 10.3, I got errors with ig ?
     

    • Nicolas • 04/23/2016 #

      Yes this one is only intended to work with the new 10.3 version and graphical possibilities of the platform. You can also use this version (v10.2 compatible) : http://www.prorealcode.com/prorealtime-indicators/value-chart-highlow/
       

  3. m-zeter • 04/23/2016 #

    Dear Nicolas,
    I tried the indicator, but it doesn’t work. I don’t get an errror, I get a new empty window without the overbought  line and so on. And at the scale on the right site there are not the parameters of the indicator (6, 8, ….), there are the points of the index. I tried it with the beta 10.3. Could you or anybody help me? Or is it because of the beta, that not everything is working correctly?Many thanks in advance

    • Nicolas • 04/23/2016 #

      Yes I got this problem too. You have to scale yourself with your mouse the ’empty window’ which is not so empty, you’ll find it by yourself 🙂 Hope it helps.

  4. m-zeter • 04/23/2016 #

    Ups…you are right! My fault. Now I try to scale it ;)Thanks for your quick answer.

  5. Cris48 • 04/23/2016 #

    Dear Nicolas,
    Why I’m not able to draw the arrows in the indicators?
    Cristiano

    • Nicolas • 04/23/2016 #

      Hi Cristiano, this indicator is intended to work only from the new version 10.3 of ProRealTime. There is another version of this one for version 10.2 here: http://www.prorealcode.com/prorealtime-indicators/value-chart-highlow/
      But it doesn’t have arrows signals which are the newest graphical capabilities of the new version.

  6. m-zeter • 04/23/2016 #

    Hello Nicolas,
    it`s me again. Maybe you know the answer. Is it possible to make a alarm for the down arrow and up arrow. I don’t find a possibility in version 10.3, because there is no option for the arrows.  Or I change it and say for example: add 100 for the uparrow and make a alarm >100. but this would be a temporary solution ;)best wishes

    • Nicolas • 04/23/2016 #

      No sorry, it’s not possible to launch sounds alerts by code.

    • Cris48 • 04/23/2016 #

      Hi Nicolas, thank you for your answer . I’m using the 10.3 beta version (end of day data), and I really can’t draw anything (segment, line, arrow ….)
      I’m a quite skill with the code, but in this area, very interesting for me (I’m now using for forex trade, metatrader), I’m not able to visualize graphical object.
       
      Cristiano

  7. Hockeytrader • 04/23/2016 #

    i have the v10.2 version of this. I’ve been working on a automated strategy containing this indicator. Anyone more that had those thoughts?

  8. Cris48 • 04/23/2016 #

    Hi Nicolas, thank you for your answer . I’m using the 10.3 beta version (end of day data), and I really can’t draw anything (segment, line, arrow ….).I’m a quite skill with the code, but in this area, very interesting for me (I’m now using for forex trade, metatrader), I’m not able to visualize graphical object.
    Cristiano

    • Nicolas • 04/23/2016 #

      I made a lot of graphical example in this forum topic: http://www.prorealcode.com/topic/the-next-prorealtime-version-10-3-and-new-graphical-functionnalities/
      Maybe you could test other drawing features to see if everything’s ok?

  9. Cris48 • 04/23/2016 #

    Dear Nicolas, I tried all the graphical example, with cut & paste your code. The only one that it works in the change backround colors, not all the others. Maybe is my Imac, or some settings?
    Cristiano

    • Nicolas • 04/23/2016 #

      Very strange.. Are there any error messages in the platform?

  10. Cris48 • 04/23/2016 #

    No Nicolas, any kind of errors …. If you want I can send you some snapshot.. 
     

    • Nicolas • 04/23/2016 #

      Please use the forum for that, it could of interest for any other person in the same case. Thanks a lot.

  11. Cris48 • 04/23/2016 #

     Dear Nicolas, 
    Problem is solved . Not all the graphics feature can be calculate with EOD data. With realtime, everythings works well.
    Cristiano

    • Nicolas • 04/23/2016 #

      Thanks for feedback about this trouble. Didn’t knew that!

  12. Vin's Regnault • 04/23/2016 #

    Hi dear nicolas,
    Your work is awesome !
    I’m interessed by the mathematical formula of the value chart, if it’s possible and if isn’t a problem for you, Could i take contact with you ?
    I want to know how this indicator work to programme an other indicator.
    Yours Sincerely
    Vincent Regnault

    • Nicolas • 04/23/2016 #

      Hi Vincent, you can use the forum for any question regarding trading or programming. Regards.

  13. Vin's Regnault • 04/23/2016 #

    My question was about how work the value chart, because thank’s to my research i think that the MBFX timing is a king of value chart but apply to the Gravity Center.
    Knowing how work this indicator could help me !
    I have took contact with doc trading and he is agreed to programme this indicator if i find the formula !
    Thank’s for your answer !
    (Sorry for my english , i’m not already fluent in english but i try to improve it )

    • Nicolas • 04/23/2016 #

      Don’t waste your time, the MBFX timing is nothing else than a stochastic oscillator. This indicator is a pure commercial repackage of an already best-known indicator,  a so-called “scam”. In fact, the MBFX came after the gravity center to find better entry points to the mean-revert function of the GC. Stochastic like RSI or any other bounded indicator try to identify the center point of price and so draw its deviations. You should investigate on how indicators work and why and for what they were made instead of follow them blindfolded, believe me you will learn a lot! 🙂

  14. Vin's Regnault • 04/23/2016 #

    Ok, if you tell it, I believe you ! Your work is great you have a real experience in trading so i  listen to you ! Thank you ! have a nice day !

  15. Sofitech • 04/23/2016 #

    On peut avoir la version 10.3 par défaut en utilisant l’offre Prorealtime CFD ou il faut le demander spécifiquement ??
     

  16. leyoy • 331 days ago #

    Bonjour, je viens de l’installer sur 10.3 … comment faire apparaitre les flèches sur l’indicateur ?
    Merci 🙂

    • Nicolas • 331 days ago #

      Les flèches apparaissent d’elles-mêmes selon les signaux de l’indicateur.

    • leyoy • 331 days ago #

      Elles viennent d’apparaitre après redémarrage. Merci Nicolas. Du coup, les signaux sont à prendre que lorsqu’il y a les flèches ou aussi dans zones en pointillées ?

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
Vonasi I'm a big fan of anything with Larry Connors on the SP500 with RSI[2]. I notice that your ex...
Francesco78 Hi Vonasi. The logic is based in the fact that the market has a bias to go up. This asymmetr...
Vonasi It seems that buy and hold outperforms this strategy. Removing the short side of the strateg...
atlante je me demande si prorealtime pourrait etre programee sur fonction lorsquún point cgange de c...
lizmerrill can you provide this code for tradestation, please. Thanks
Nicolas No sorry, please use this file instead into a prorealtime trading platform.
StantonR Got good results on ZAF 1hr timeframe
Wilko Great!
Wilko Thanks for letting the community know!
lizmerrill can you explain the flow of the code, just to clarify. RE:fullness = (Dclose(0)-Dopen(0))/ab...
Francesco78 hi Lizmerril, yes, that is correct
lizmerrill Thanks for replying, so.... I assume in your backtest, the fullness calculations using dclos...
diegofe_2000 cordial saludo NICOLAS , gracias por excelente indicador. ¿ es posible obtenerlo en MT4 ? ...
Nicolas Lo siento, pero no estoy trabajando para ayudar a la gente aquí de forma gratuita para promo...
diegofe_2000 Nicolas , gracias por tu atención. La pregunta era por curiosidad (yo no trabajo ni manejo ...
larmhen
6 months ago
HerveS_67 Bonjour, A quoi correspondent les données S, M, L ? Hello, What do the data S, M, L?
gabri Excellent job like always!! are you working also on the Barycenter indicator?
Nicolas No but I think you can find a lot of different version of the "center of gravity - COG" indi...
Juan Salas Hi Francesco, Yes, this is pretty much the question. The system ask me a number of contract...
Francesco78 ok sounds good, you can put min size = 1 and go for the seasonable breakout too, also you ca...
JR1976 HI all , anyone test 200k bar for this great code ?
David Nicolas I've looked at it again and there's a problem.  As an example here's a simple cross...
Nicolas You'll need to preload bars to get the good calculations of you indicators. I did not test i...
David Nicolas I tried DEFPARAM Preloadbars = 5000 And still the same drawn output of entries/exit...
rpreviteri Hi Nicolas, thanks a  loto for sharing your knowliedge, Wasn't the original momentum pinball...
air Thank you!  
elanoa Buonasera sig. Nicolas......sarebbe possibile far in modo che quando l'indicatore raggiunga ...
Dimi.A Perfect for counter-trend scalping. I like this!
jctrader Bonjour . CAC 40    1988 = 1000   today = 4900  soit 490%  en buy and hold  .... + 370% av...
Nicolas Aucune immobilisation du capital. Quel est le drawdown du buy & hold ? Je ne l'ai pas ca...
jctrader ok pour le codage mais le choix "indice" n'est pas le bon : moins de 5%/an pour le meilleur ...
DonDollar ...and I do not see any opened positions...strange...
DonDollar I found the answer by myself for the second question. But still no idea about the False and ...
Nicolas The line 12 of the code is the answer of your question. Before launching a new trade, the co...
Nicolas I do not have any error Alfredo, even while testing on 150000 bars in the past. By the way, ...
alfredo thank for the council, when i do start the strategie on Italy at 1h some mornings happen tha...
Nicolas I think it's because of price gaps and/or quote interrupt. Anyway, be aware that this strate...

Top