This is a private and personalised V3 Pinescript indicator for Unfoldingdawn that includes the following.
This is an exact replica of the MT4 Value Charts indicator created by FXGEEK, located here: https://www.mql5.com/en/code/575
The indicator logic required a build of a detrended oscillator that colors the moving value as blue when it passes above or below the over-bought and over-sold levels. These levels represent extreme trading zones that provide trading opportunities.
If the bar or candlestick opens lower than it closes and is not outside of the normal trading range, it will be green. Otherwise, it will be red.
Both the Oscillator panel and the Arrows have been developed separately so you can add them to your chart separately as you wish.
Make sure you change the input values for both the Oscillator, and the Arrow indicator because they work independently. If you change one, it will not result in changes to the other.
Both Candlesticks and OHLC Bars can be selected in the input panel.
The “Deviation” will determine how extreme the values become from the base line.
Colors of all plot types can also be adjusted which will result in immediate visual changes.
Screenshot of when Candlesticks are turned on (Default).
Screenshot of when Candlesticks are turned off (OHLC Bars appear).
Arrows are larger when zoomed in.
Comparison to MT4 Copy