CHT Value Chart Indicator Download for MetaTrader 4 - Free - [TFlab] - MT4/MT5 Resources

The CHT Value Chart indicator is one of the useful tools among MetaTrader 4 indicators that provides value charts to help traders identify overbought and oversold conditions.

This indicator displays price information using colored bars or candles in the oscillator window, identifying potential price reversal points.

CHT value chart indicator table

The following table describes the general specifications of the indicator:

Indicator overview

When a chart bar reaches the upper line (overbought) or the lower line (oversold), the likelihood of a trend reversal increases. This oscillator divides overbought and oversold areas into five sections in the lower window of the chart to determine the strength of price reversal areas.

Indicators are in an upward trend

On the chart of GBP/CHF (GBP/CHF), the price reached oversold territory and fell to -12 in the indicator window. After reaching this level, the price starts an upward trend.

Traders can enter positions in these areas and exit trades when price reaches overbought territory.

Indicators are in a downward trend

In the chart below of USD/CAD, the price reaches overbought territory, rises to the 10 level, and then begins a downward trend.

Traders can open a sell position after receiving the necessary confirmations. Additionally, they can exit trades when price reaches oversold areas in the oscillator window.

CHT Value Chart Indicator Settings

The settings of this indicator are very simple, including [Display Settings, Indicator Settings] and other parts:

• Chart Theme: The background theme of the indicator
• Length: The number of candles required for indicator analysis
• Bullish Color: Color of bullish candles in the oscillator window
• Bearish Color: Color of bearish candles in the oscillator window

Conclusion

CHT Value Chart Oscillator is a technical analysis tool that provides a value chart and displays overbought and oversold levels to identify potential price reversal points in financial markets.

This indicator is specifically designed to detect key price trend changes and can be used on all timeframes.