The Value Chart Deluxe indicator for MetaTrader is a forex trading tool that helps identify continuous market cycles. The indicator does this by defining the high/lows of price action, which helps you to identify BUY/SELL zones.
The MT4 indicator visualizes the major price turning points to reveal where the market value lies. It analyses the current market condition and varies it with previously accumulated data on price behavior.
Besides identifying overbought/oversold regions of price, the Value Chart Deluxe indicator can be easily used to detect support/resistance and divergence. The indicator comes in handy in identifying reversal zones.
This technical indicator would benefit novice traders as they can easily identify market interest areas. Experienced traders can also use it as extra confirmation for trade entries which is a good practice in forex trading.
How To Trade With The Value Chart Indicator For MT4
The above picture is how the Value Chart Deluxe indicator would look on your chart after installation. The indicator is recommended to be used in synergy with your regular trading strategy/indicators and not in isolation.
BUY Signal: First, wait for price action or other trading indicators to suggest a possible bullish move. BUY/LONG if the candlestick on the Value Chart Deluxe indicator’s sub-window is also in contact with the oversold region.
SELL Signal: The same principle also applies here. Wait for price action or other trading indicators to be poised to move to the downside. SELL/SHORT if the candlestick on the Value Chart Deluxe indicator’s sub-window is also in contact with the overbought level.
Conclusion
The Value Deluxe indicator for MT4 helps you identify and take advantage of market price movement extremes. Furthermore, the indicator is free to download and doesn’t cost a penny!
Value Chart Deluxe Forex Indicator MT4 Free Download
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