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The idea of a Value Chart indicator was presented in the very good book I read back in 2020 , " Dynamic Trading Indicators: Winning with Value Charts and Price Action Profile ", from the authors Mark Helweg and David Stendahl. The idea is simple and the result is pure genius: Present candlestick Price analysis in a detrended way! HOW TO READ THIS INDICATOR Look for Overbought and Oversold levels. Of course, you will need to test the settings a lot to find the "correct" one for your approach. It
Understanding the levels of the previous day or week is very important information for your trading. This indicateur allow to draw Previous day High/Low Previous week High/Low Congifuration High & Low for: Previous day, week Line Style, color Label position, size, color Any questions or comments, send me a direct message here https://www.mql5.com/en/users/mvonline
Graph configuration and buy and sell signals based on Stormer's (Alexandre Wolwacz, Brazilian trader) swing, position and day trade strategy, described on his youtube channel (https://www.youtube.com/watch?v= 0QZ_NjWkwl0) The buy and sell indications are based on 2 candle patterns ( Inside Bar [Yellow] and Reversal Closing Price [Blue and Red] ), 3 Moving Averages and 1 Stochastic . Indicators: Inside Bar - Candle pattern indicating trend continuity, or reversal Reversal Closing Price -