Helweg/Stendahl value charts ... - page 3

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Value Charts with Renko

I am spending a lot of time lately trying to find a simple system. I have been guilty lately of filling up charts my with every indicator I think will increase the probability of a successful trade. What I end up with is a chart full of information that makes me get into trades way late or not taking trades at all because I am waiting for all of the stars to align. I am new to Forex. I am sure experienced traders have all gone through this stage.

One of my issues has been which time frame to use. I have decided to focus on using Renko charting to eliminate the time frame issue and this has helped me a great deal. I am working on a system that has a maximum of three indicators in an effort to simplify my trading. This week I have had great success with using Mladen's Value Chart indicator. This is very much a work in progress but I wanted to share it so we may improve this technique.

The chart image shows the entries. For exist I have been using either RSI, CCI an/or Mladen's dynamic zone OMA MACD. As I said I am still working on a system.

The moving averages on the value chart are set to 5 and 8 periods. The Renko bar size is set to 5 pips. One idea might be a macd for the value charts moving averages. Higher probability trades seem to come from crosses above +4 for a sell and below -4 for a buy. When the candle reaches -8 or +8 on the value chart it is a sign that the trade may be losing momentum.

Files:
renko_chart.gif  36 kb
 

Thanks a lot.

Advance Elite section definitely worth it.

I love TSD.

I will try this method 5min scalping.

 

Hi Mladen,

Is it possible to add Multi time frame mode to Value Chart indicator like Chart Clones : https://www.mql5.com/en/forum Many thanks.

 

Value chart

Dear Mladen,

can You add alarm when emas corsing

in that indicator?

https://www.mql5.com/en/forum/179806

best regards

bbjurek

 

Mladen,

thank You for this indicator but alert on ema cross do not work.

Could You check it?

Could You add 'shift' parameter to calculate ema?

bbjurek

 

bbjurek

Here you go There is one in the "Requests & ideas" thread with alerts, but that one has alerts on areas +8 and -8 penetration. This one has an option with which you can choose if you want alerts on ema crosses (alertsOnEmasCrossset to true) or on levels breaking (alertsOnEmasCrossset to false)

regards

Mladen

bbjurek:
Dear Mladen,

can You add alarm when emas corsing

in that indicator?

https://www.mql5.com/en/forum/179806

best regards

bbjurek
 

bbjurek

Updated the original post. Tested and it work OK now. Shifts for moving averages are also added. Shift is applied to calculation (so it is not just moving of the moving average left or right on screen (as the usual shift does), but it is using shifted values of the value chart in it's calculation, and I done it so because alerts on a "visual shifted" values can give unpredictable results in some cases - it limits the shift to positive values, since negative shifts in calculation produce a 0 as a result at the first shift bars you use) If it is not the kind of shift you were looking for, let me know

regards

Mladen

bbjurek:
Mladen,

thank You for this indicator but alert on ema cross do not work.

Could You check it?

Could You add 'shift' parameter to calculate ema?

bbjurek
 

Thank You Mladen,

now, alert and wroks OK.

Sometimes data bar is missed only, (see attachment) . Is it error?

bbjurek

Files:
value_chart.gif  12 kb
 

bbjuek

As far a bars are concerned, there is no error

Glad that alerts on ema crosses and shifts are working OK now too

regards

Mladen

bbjurek:
Thank You Mladen,

now, alert and wroks OK.

Sometimes data bar is missed only, (see attachment) . Is it error?

bbjurek
 

Helweg/Stendahl value charts - with One more Average cross

Hi Mladen, I've studied much of the work that you have done. It is, to say the least exquisite work! Thank you. I have read up about the Helweg/Stendahl value charts and had a look at your indicator. It is excellent.

I have a request, If possible, do you think you can do the Helweg/Stendahl value charts with your One more Average? Do it with the same capabilities: Two OMA's that cross (with possibilities of displacement.) Please add arrows on the screen with audible alerts.

By the way the value charts indicator is a bit heavy on the CPU of my computer and causes delays when I try to move my mouse over the charts. Is there a possibility to make that better?

I want to see if that will give me some extra information on the system I am currently building.

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