Technical Indicators for MetaTrader 4

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MetaTrader 4

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Value Chart Probability

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Information

Indicators
MetaTrader 4
Teresinha Moraes Correia
1.1
5

Overview


This updated version of the Value Chart indicator introduces new parameters in the way the indicator is calculated.

Its main objective is to analyze the current range and attempt to predict the direction of the ongoing candle, displaying an arrow indicating where the candle is expected to move.

The calculation structure is based on the last 1,000 candles. First, a weighted average is calculated for each candle. Then, the modified Value Chart calculation is applied to determine the range and strength of the movement. Finally, an arrow is displayed, indicating the direction in which the trade should be executed.

How to use:
Wait for an arrow to appear and execute the trade immediately within the same candle.


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