Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

Value Chart Indicator

Recommended Posts

Those who are interested in this indicator should go to the original authors Helweg and Stendahl, in their book:

Dynamic Trading Indicators - Winning with Value Charts and Price Action Profile by Stendahl, David & Helweg, Mark

 

and the many existing threads and code samples on the TS forum. Helweg was generously enough to post it as open code in 2001 and the copyright should be acknowledged.

 

If you noticed in their book and code, there are two ways to trade this, one is the 21 period High or Low and the other is an absolute +8 or -8 play.

 

Recently, TTM revived this fairly old indicator by incorporating it with Clayburg's DDF (Day Directional Filter) and then calling it the TTM ddf vc indicator, which tries to find the Day's trend by usually the trend of the first hour and then trade the VC (Value Chart) in the direction of the DDF trend. The attached picture shows such a chart with all open source code.

 

[LegacyColorValue = true]; 

{*******************************************************************
Description	:	This Indicator plots Value Chart prices. 
Provided By	: Mark W. Helweg (c) Copyright 2001
********************************************************************}

5aa70e39b889a_ESddfvc2008-02-03_171800.png.4c40855ba714360128c92e3b20ae9a06.png

Share this post


Link to post
Share on other sites

Anyone know if it would be possible to trigger an Alert in TS when the VC hits a certain level like +6/-6?

 

I tried mimicking it with horizontal lines and breakouts intra/interbar with no luck. At least the alert never fired.

 

Any ideas? It would simplify my life 100x's.

Share this post


Link to post
Share on other sites

I just wanted to add my 2 cents to this thread. I did download it and did some tweaking and got it working really well with my approach to trading. In the picture that I am posting when the value has a positive close above the zeroline you go long and if you get a negative close of value below the zeroline you go short. This method helps you hold onto winning trades longer without exposing you to large potential stop losses and keeping your winners running.

 

VinceB

valuechart.thumb.jpg.c95e06d55a81216a797775cb8d33a712.jpg

Share this post


Link to post
Share on other sites

This detrender tracks pretty well within fixed bounds but just for snicks I put slightly dynamic / variable ones on it… those who use the extremes might find it useful…

btw daedalus the skeleton for alerts is started in the fixed band case part of the code. No warranty expressed or implied :) but it should help get you going… hth

 

 



[LegacyColorValue = true]; 

{Value Chart Indicators.  And yes thanks and credits to David Stendahl, et al 
RFA is Relative Float Axis
VU is Volatility Unit 
}
Input: 
FixedBand(7.5),	
Length(7),
sdLength(21   {89}  {43}),
StDv(1.61), {why?}
bandType(2) //bType 0 = none 1 fixed 2 bb-like  2 Keltner-like (not implemented)
; // End Input

Var: 
RFA(0),
VU(0),
RfaH(0),
RfaL(0),
medRfa(0),
Avg(0),
SDev(0),
UpperBand(0),
LowerBand(0)
; // End Var

RFA = Average(MedianPrice, Length);
VU = (Average(Range, Length))* 0.2;

if VU = 0 then
VU = 1;

RfaH = (High-RFA)/VU;
RfaL = (Low-RFA)/VU; 

Plot1 (RfaH, "VCHigh");
Plot2 (RfaL, "VCLow");

if bandType = 0 then begin // select case
noplot(3);
noplot(4);

end; // if bandType = 0

if bandType = 1 then begin
Plot3 (FixedBand, "");
Plot4 (-FixedBand, "");

if RfaH > Plot3[0] and RfaH[1] <= Plot3[1] then
 Alert( "UpperValueBoundTapped") 
else if RfaL < Plot4[0] and RfaL[1] >= Plot4[1]  then
 Alert( "LowerValueBoundTapped") ;	

end; // if bandType = 1

if bandType = 2 then begin 
Avg = XAverage(RfaH,sdLength);
SDev = StdDev(RfaH, sdLength);
UpperBand = Avg + StDv * SDev;

Plot3 (UpperBand, "");

Avg = XAverage(RfaL,sdLength);
SDev = StdDev(RfaL, sdLength);
LowerBand = Avg - StDv * SDev;

Plot4 (LowerBand, "");

{
if RfaH > Plot3[0] and RfaH[1] <= Plot3[1] then
 Alert( "UpperValueBoundTapped") 
else if RfaL < Plot4[0] and RfaL[1] >= Plot4[1]  then
 Alert( "LowerValueBoundTapped") ;	
}

end; // if bandType = 2

//keltner-like
{if bandType = 3 then begin
//medRfa = (RfaH - RfaL) / 2;
Shift = Factor * AvgTrueRange( atrLength ) ;
UpperBand = Avg + Shift 
LowerBand = Avg - Shift ...
}

Share this post


Link to post
Share on other sites

Has anyone put one together for Sierra Charts? I asked at their board, but admin seemed to think that it would be difficult to do. More than I thought, but then, I don't code. Thanks in advance for any help!

Share this post


Link to post
Share on other sites
If AFL version of Amibroker is available, please post it.

 

Here is the afl for amibroker...

 

 

////  Vchart
//This was converted from code created for TradeStation by Mark W. Helweg of ValueCharts.com
VarNumbars = Param("Number of Bars",5,2,1000,1);
Color = Param("Bar Color",colorBlue);
Top = Param("Top Chart Line",8);
TopMid = Param("Top Mid Chart Line",4);
BottomMid = Param("Bottom Mid Chart Line",-4);
Bottom = Param("Bottom Chart Line",-8);
Plot(Top,"Top Chart Line",colorRed);
Plot(TopMid,"Top Mid Chart Line",colorLightGrey);
Plot(BottomMid,"Bottom Mid Chart Line",colorLightGrey);
Plot(Bottom,"Bottom Chart Line",colorRed);

LRange = 0;
VarP = round(VarNumBars/5);
if (VarNumBars > 7) 
{
VarA=HHV(H,VarP)-LLV(L,VarP);
VarR1 = IIf(VarA==0 AND VarP==1,abs(C-Ref(C,-Varp)),VarA);
VarB=Ref(HHV(H,VarP),-VarP+1)-Ref(LLV(L,VarP),-VarP);
VarR2 = IIf(VarB==0 AND VARP==1,abs( Ref(C,-VarP)-Ref(C,-Varp*2) ),VarB);
VarC=Ref(HHV(H,VarP),-VarP*2)-Ref(LLV(L,VarP),-VarP*2);
VarR3 = IIf(VarC == 0 AND VarP==1,abs(Ref(C,-Varp*2)-Ref(C,-Varp*3)),VarC);  
VarD = Ref(HHV(H,VarP),-VarP*3)-Ref(LLV(L,VarP),-VarP*3);
VarR4 = IIf(VarD == 0 AND VarP==1,abs(Ref(C,-Varp*3)-Ref(C,-Varp*4)),VarD);	
VarE = Ref(HHV(H,VarP),-VarP*4)-Ref(LLV(L,VarP),-VarP*4);
VarR5 = IIf(VarE == 0 AND VarP==1,abs(Ref(C,-Varp*4)-Ref(C,-Varp*5)),VarE);	
LRange=((VarR1+VarR2+VarR3+VarR4+VarR5)/5)*.2;
};


CDelta = abs(C - Ref(C,-1));
if (VarNumBars <=7)
{
Var0 = IIf(CDelta > (H-L) OR H==L,CDelta,(H-L));
LRange = MA(Var0,5)*.2;
}
MidBarAverage = MA( (H+L)/2,VarNumbars);
VOpen = (Open- MidBarAverage)/LRange;
VHigh = (High-MidBarAverage)/LRange;
VLow = (Low-MidBarAverage)/LRange; 
VClose = (Close-MidBarAverage)/LRange; 
PlotOHLC(VOpen,VHigh,VLow,VClose,"ValueChart",color,styleBar | styleThick ,-12,12);
Title= Name() + " " + WriteVal( DateTime(), formatDateTime )+
"\nVOpen " + VOpen + "\n"+ " VHigh "+ VHigh + "\n"+ " VLow " + Vlow  + "\n"+ " VClose " + VClose;

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 31st March 2025.   Trump Confirms Tariffs on All Countries, Sending Stocks Lower.   The NASDAQ continues to trade lower due to the US confirming the latest tariffs will be on all countries. In addition to this, bearish volatility also is largely due to the higher inflation data from Friday. The NASDAQ declines to its lowest price since September 11th 2024. Core PCE Price Index - Inflation Increases Again! The PCE Price Index read 2.5% aligning with expert forecasts not triggering any alarm bells. However, the Core PCE Price Index rose from 0.3% to 0.4% MoM and from 2.7% to 2.8% YoY, signalling growing inflationary pressure. This increases the likelihood that the Federal Reserve will maintain elevated interest rates for an extended period. The NASDAQ fell 2.60% due to the higher inflation reading which is known to pressure the stock market due to pressure on consumer demand and a more hawkish Federal Reserve. Boston Fed President Susan Collins recently commented that tariffs could drive up inflation, though the long-term impact remains uncertain. She told journalists that a short-term spike is the most probable outcome but believes the current pause in monetary policy adjustments is appropriate given the prevailing uncertainties. Although, certain investment banks such as JP Morgan actually believe the Federal Reserve will be forced into cutting rates. This is due to expectations that the economy will struggle under the new trade policy. For example, JP Morgan expects the Federal Reserve to delay rate cuts but will quickly cut towards the end of 2025. Market Risk Appetite Takes a Hit! A big factor for the day is the drop in the risk appetite of investors. This can be seen from the VIX which is up almost 6%, Gold which is trading 1.30% higher and the Japanese Yen which is the day’s best performing currency. Most safe haven assets, bar the US Dollar, increase in value. It is also worth noting that all indices are decreasing in value during this morning's Asian session with the Nikkei225 and NASDAQ witnessing the strongest decline. Previously the stock market rose in value as investors heard rumours that tariffs would only be on certain countries. This bullish swing occurred between March 14th and 25th. Over the weekend, President Donald Trump indicated that the upcoming tariffs would apply to all countries, not just those with the largest trade imbalances with the US. NASDAQ - Technical Analysis In terms of technical analysis, the NASDAQ continues to obtain indications that sellers control the price action. The price opens on a bearish price gap measuring 0.30% and trades below all Moving Averages on all timeframes. The NASDAQ also trades below the VWAP and almost 100% of the most influential components (stocks) are declining in value.     The next significant support level is at $18,313, and the resistance level stands at $20,367.95. Key Takeaway Points: NASDAQ falls to its lowest since September 2024 as the US confirms tariffs on all countries, adding to inflation concerns. Core PCE inflation rises to 0.4% MoM and 2.8% YoY, increasing the likelihood of prolonged high interest rates. Investor risk appetite drops as VIX jumps 6%, gold gains 1.3%, and safe-haven assets outperform. NASDAQ shows strong bearish momentum, trading below key technical levels with support at $18,313 and resistance at $20,367.95. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • PM Philip Morris stock, top of range breakout at https://stockconsultant.com/?PM
    • EXC Exelon stock, nice range breakout at https://stockconsultant.com/?EXC
    • UTZ Utz Brands stock, watch for a bottom breakout at https://stockconsultant.com/?UTZ
    • FL Foot Locker stock, nice breakdown follow through at https://stockconsultant.com/?FL
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.