CHT Value Chart Indicator Download for MetaTrader 5 - Free - [TFlab] - MT4/MT5 Resources

The CHT Value Chart Indicator is designed for trend analysis and identification of overbought and oversold conditions.

This oscillator provides a value chart in the form of colored bars or candles in a separate window, showing price information and identifying potential reversal points.

CHT value chart indicator table

The main indicators of this indicator are shown in the table below:

Indicators at a glance

This indicator divides overbought and oversold areas into five distinct sections, allowing for detailed analysis of the strength of price reversal points. Analyzing these levels can help identify key market trend changes.

Additionally, the oscillator works on all timeframes, providing insight into entry and exit points.

Indicators are in an upward trend

On the price chart of the USD/CHF currency pair (USD/CHF), overbought and oversold areas are marked. The price moved upward after falling to the -8 level on the indicator line.

Traders can open Buy positions in these zones and when prices reach overbought zones.

Indicators are in a downward trend

On the chart of the AUD/JPY pair (Australian Dollar Against Japanese Yen) on the 1 hour time frame, price enters the overbought zone and initiates a downward trend.

Traders can use this indicator as a complementary tool, integrating it with their strategies to identify trade entry and exit points.

CHT Value Chart Oscillator Settings

The indicator offers simple settings with two parts:

• Chart Theme: Custom indicator background theme
• Length: Defines the number of candlesticks required for analysis
• Bullish Color: Set the color of bullish candles in the oscillator window
• Bearish Color: Set the color of bearish candles in the indicator window

Conclusion

CHT Value Chart Oscillator is a tool used in technical analysis MetaTrader 5 indicator that provides value charts to show overbought and oversold areas.

This indicator identifies potential price reversal points and is suitable for all time frames when analyzing significant changes in price trends.