Value Chart Deluxe Edition - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

Author: ***UPDATE*** See below

Programmed by William Kreider (madhatt30), but the original value chart was developed by David Stendhal.

Value charts were developed to show the valuation of the market.

The Value chart can be described as a detrended oscillator, where the higher or lower the values ​​on the Value chart, the greater the likelihood of a direction reversal.

One huge problem you may always find with it, unlike other value chart indicators, is that it really puts a burden on the terminal by removing and creating all the value chart bars on every price move. This indicator does not have this problem and therefore does not put a burden on your terminal. This indicator only updates the changed value chart bars. So you can put it on as many charts as you like.

Additional features:

Input parameters:

suggestion:

Quick strategy:

Keltner channel using default settings

Stochastic 5,3,3 (preferably zero lag)

Value Chart Deluxe (default settings)

Good luck and if you like this indicator or you have an indicator for other platforms that does not work with MetaTrader 4, be sure to leave me a comment.

Additional options for level and code fixes

**** renew****

New version of Numerical Chart Deluxe Edition v1.0.2

What's new in this version

1. The annoying issue of candlesticks extending beyond the current bar is now fixed. (I did a week of backtesting and forward testing, the forward testing worked great, but the backtesting didn't)

2. The normal area (green) can now be customized (if no color is required, set all color fields to "None")

3. Added new parameters; BarsBack=1000 specifies how many bars to return to draw the colored area. Set all bars to 0

4. Added new parameters; useExtern=false; set to true to use the indicator externally via iCustom. Yes, you can use iCustom to access the value chart from another indicator

iCustom(NULL,0,"Numerical Chart Deluxe Edition v1.0.2", 5,"",true,0,0); *VC bar height

iCustom(NULL,0,"Numerical Chart Deluxe Edition v1.0.2", 5,"",true,1,0); *VC Bar Low

iCustom(NULL,0,"Numerical Chart Deluxe Edition v1.0.2", 5,"",true,2,0); *VC Bar is open

iCustom(NULL,0,"Numerical Chart Deluxe Edition v1.0.2", 5,"",true,3,0); *VC Bar Closing

5. Additional code cleanup

I have attached the new version of this indicator, please be sure to download v1.0.2 as it is the latest version

Attachment download

📎 Value_Chart_Deluxe_Edition_v1_0_2.mq4 (11.75 KB)

Source: MQL5 #11079

Value Chart Deluxe Edition – Important Things to Know Before Using the MetaTrader 4 Script

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

This page is also optimized for English search intent around Value Chart Deluxe - MetaTrader 4 script . Related search terms include: trading script, MT4 script, MT5 script. Test any Forex EA, Expert Advisor, MT4/MT5 indicator, script or MQL source code with historical data and a demo account before live trading.