Charts247 Price Value Bands
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Segun Ayanniyi
Trader, educator and developer with 17 years of live market experience. I’m the founder of Charts247 Trading Academy, where I teach the WavesOfSuccess (WOS) methodology, a structured approach to reading market waves, trend changes and high-probability setups. - Versão: 1.0
- Ativações: 10
Charts247 Price Value Bands
Is price cheap, fair or stretched right now? Fair value with value bands measured from how far price really travels, the share of closes beyond each band, return arrows, a two-close T3 line, confirmed peaks and the M5 Fibonacci. Nothing repaints.
Every market swings around a fair value. Most of the time it stays close; now and then it stretches far away, and from there it usually comes back. Charts247 Price Value Bands shows how far is far for the symbol and timeframe in front of you, so you stop chasing stretched moves and start spotting the returns.
Fair value
• A moving average of the candle's price (OHLC4, 20 candles by default; simple, exponential or weighted).
• Coloured green while closes sit above it and red while they sit below it.
Value bands: measured, not guessed
• The bands come from how far closes have actually travelled from fair value over the last 500 candles, measured as a robust deviation (the median distance, scaled). A few spikes cannot blow them out of shape.
• Bands at 1, 2 and 3 deviations above and below fair value. Each symbol and timeframe gets its own width, and the bands adapt as volatility changes.
Zone labels
• At the right edge, each band shows the share of the last 500 closes beyond it, for example +2 4.6%. You see at a glance how rare the current stretch is.
Return arrows
• An arrow on the candle that closes back inside a band after closing beyond it: up from below the lower band, down from above the upper band. Band 2 by default; band 1 or 3 is an input.
T3 line with a two-close colour
• The Tillson T3 (9, 0.72) turns green only after a close above it and a second close above that candle's high; red mirrored. A close back across the line first cancels the change, so one noisy candle does not flip it.
Confirmed peaks
• Major peaks (the extreme of 360 candles) and minor peaks (120 candles) are marked once 12 candles have passed without a new extreme. They appear a little after the turn, and they never move or disappear.
M5 Fibonacci
• The 12.5, 37.5, 50, 62.5 and 87.5% levels of the last 240 M5 candles (about 20 hours), on any chart timeframe.
Control panel
Where the last close sits (for example between +2 and +3), the fair value and its side, the T3 state and the last confirmed peak. Six buttons switch the layers: bands, zone labels, return arrows, T3, peaks and M5 Fibonacci. Settings are kept per symbol, and the panel can be minimised.
Alerts
Pop-up, phone notification or both, each switchable: a return arrow, a T3 colour change and a confirmed major peak. Alerts fire once, on the close of the candle, never for history.
How it behaves
Everything is calculated on closed candles. The live candle is drawn from its current price but never counted in the statistics. Peaks wait for confirmation and then stay put. Nothing repaints.
Inputs
• Fair value: price, average, length, colours.
• Value bands: measuring window, the three band distances, colours, zone labels.
• Return arrows: the band used, colours, size, gap.
• T3: period, factor, confirmation window, recross cancel, colours.
• Peaks: major and minor depth, confirmation candles, colours.
• M5 Fibonacci: range length, colour, labels.
• Alerts and panel.
Notes
• Works on any symbol and timeframe; built on intraday forex charts.
• Part of the Charts247 Academy toolset.
• No DLLs and no files written.
