The Value Chart Deluxe Edition, programmed by William Kreider (madhatt30) and originally developed by David Stendhal, is an indicator designed to showcase the valuation of the market. With its unique features and accurate calculations, it stands out from other Value Chart indicators available in the market. This review will delve into the various aspects of the Value Chart Deluxe Edition, including its functionality, performance, and compatibility with different trading strategies.
Functionality and Performance
One of the standout features of the Value Chart Deluxe Edition is its ability to serve as a DeTrended Oscillator. This means that it provides insights into potential market reversals by analyzing the higher or lower values on the Value Chart. This feature alone makes it an invaluable tool for traders looking to identify crucial turning points in the market.
One notable improvement of this edition over its predecessors is its efficiency. Unlike previous versions, the Value Chart Deluxe Edition does not excessively strain the terminal by deleting and creating all Value Chart bars on every tick. Instead, it intelligently updates only the bars that have changed, ensuring optimal performance without burdening your trading platform. This efficiency allows traders to use the indicator on multiple charts simultaneously, expanding its potential applications.
Customization Options
The Value Chart Deluxe Edition offers a range of customization options, giving traders the flexibility to adapt it to their specific needs. The adjustable Value Chart bar and wick colors, as well as their widths, allow users to personalize the appearance of the indicator to their liking. This feature adds a visual appeal and enables traders to integrate the Value Chart Deluxe Edition seamlessly into their existing chart setups.
Additionally, the indicator provides adjustable overbought and oversold areas, along with customizable colors for these regions. These customization options empower traders to define their preferred thresholds for overbought and oversold conditions, aligning with their trading strategies and risk preferences. The ability to set specific alert levels and benefit from built-in alerts further enhances the user experience, ensuring timely notifications of potential trading opportunities.
Compatibility with Trading Strategies
The Value Chart Deluxe Edition is not designed to be used as a standalone indicator. Instead, it excels when employed as a supplementary tool within a comprehensive trading strategy. For example, it can be effectively combined with the Zero Lag Stochastic indicator set to 5,3,3, or a standard stochastic set to 3,3,5.
By incorporating the Value Chart Deluxe Edition with the aforementioned stochastic indicators, traders can establish a robust trading approach. For instance, when the stochastic indicator crosses above the 80 level and the Value Chart is between 8 and 10, it may signal a potential sell opportunity. Conversely, if the stochastic indicator is crossing below 20 and trending upward, and the Value Chart is between -8 and -10, it may indicate a buying opportunity. Traders have reported success in applying this strategy, particularly in the realm of 60-second binary options trading.
Conclusion
The Value Chart Deluxe Edition stands out as a nice tool for market valuation. Its DeTrended Oscillator functionality, coupled with its efficient performance, sets it apart from other Value Chart indicators available in the market. The indicator’s customization options, including adjustable colors, widths, and overbought/oversold areas, cater to individual preferences and trading strategies. While it is not designed to be traded in isolation, the Value Chart Deluxe Edition can significantly enhance existing trading approaches when combined with complementary indicators such as the Zero Lag Stochastic. Overall, this indicator offers traders an invaluable asset for identifying market reversals and generating actionable trade signals, making it a valuable addition to any trader’s toolkit.
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