Category Oscilators  Published on 09/05/2016

Value Chart

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Description

DonateDescription:

  • The Value Chart was developed to show the valuation of the market. 
  • The Value Chart could be described as a DeTrended Oscillator in which the higher or lower the value on the Value Chart the more likely it is to reverse direction.

 

Updates:

  • 19/03/2016 - Released.

 

Parameters:

  • Period - Period used for calculations.
  • MA Type - Moving Average Type used for calculations.
  • Body Width - Body thickness for candlesticks.
  • Default Colors - Switches from default colors to OB/OS highlight colors.
  • Overbought / Oversold Levels - Defines OB/OS areas.

 

Screenshots:

 

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  • If you like my work and effort then please consider to make a kind donation thru PayPal or any Credit Card at the top right corner.

using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;

namespace cAlgo
{
    [Levels(0)]
    [Indicator(IsOverlay = false, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
    public class ValueChart : Indicator
    {
        [Parameter("Period", DefaultValue = 5)]
        public int Period { get; set; }
        [Parameter("MA Type", DefaultValue = MovingAverageType.Simple)]
        public MovingAverageType MAType { get; set; }
        [Parameter("Body Width", DefaultValue = 3)]
        public int BodyWidth { get; set; }
        [Parameter("Default Colors", DefaultValue = true)]
        public bool DefaultColors { get; set; }
        [Parameter("Overbought Level", DefaultValue = 10)]
        public double OverboughtLevel { get; set; }
        [Parameter("Oversold Level", DefaultValue = -10)]
        public double OversoldLevel { get; set; }

        [Output("Open", Color = Colors.Black, PlotType = PlotType.Points)]
        public IndicatorDataSeries Open { get; set; }
        [Output("High", Color = Colors.Black, PlotType = PlotType.Points)]
        public IndicatorDataSeries High { get; set; }
        [Output("Low", Color = Colors.Black, PlotType = PlotType.Points)]
        public IndicatorDataSeries Low { get; set; }
        [Output("Close", Color = Colors.Black, PlotType = PlotType.Points)]
        public IndicatorDataSeries Close { get; set; }

        private IndicatorDataSeries middleSource, scaleSource;
        private MovingAverage middleMA, scaleMA;


        protected override void Initialize()
        {
            middleSource = CreateDataSeries();
            scaleSource = CreateDataSeries();

            middleMA = Indicators.MovingAverage(middleSource, Period, MAType);
            scaleMA = Indicators.MovingAverage(scaleSource, Period, MAType);
        }

        public override void Calculate(int index)
        {
            middleSource[index] = (MarketSeries.High[index] + MarketSeries.Low[index]) / 2;
            scaleSource[index] = MarketSeries.High[index] - MarketSeries.Low[index];

            double middle = middleMA.Result[index];
            double scale = scaleMA.Result[index] * 0.2;

            Open[index] = (MarketSeries.Open[index] - middle) / scale;
            High[index] = (MarketSeries.High[index] - middle) / scale;
            Low[index] = (MarketSeries.Low[index] - middle) / scale;
            Close[index] = (MarketSeries.Close[index] - middle) / scale;

            var colorWick = MarketSeries.Open[index] < MarketSeries.Close[index] ? Colors.DarkGreen : Colors.DarkRed;
            var colorBody = MarketSeries.Open[index] < MarketSeries.Close[index] ? Colors.Lime : Colors.Red;

            ChartObjects.DrawLine("wick" + index, index, High[index], index, Low[index], DefaultColors ? colorWick : Colors.Gray);
            ChartObjects.DrawLine("body" + index, index, Open[index], index, Close[index], DefaultColors ? colorBody : Colors.Gray, BodyWidth);
            ChartObjects.DrawHorizontalLine("ob level", OverboughtLevel, Colors.DimGray);
            ChartObjects.DrawHorizontalLine("os level", OversoldLevel, Colors.DimGray);

            if (!DefaultColors)
            {
                if (High[index] > OverboughtLevel)
                    ChartObjects.DrawLine("ob wick" + index, index, High[index], index, OverboughtLevel, Colors.DarkGreen);
                if (Math.Max(Open[index], Close[index]) > OverboughtLevel)
                    ChartObjects.DrawLine("ob body" + index, index, Math.Max(Open[index], Close[index]), index, OverboughtLevel, Colors.Lime, BodyWidth);
                if (Low[index] < OversoldLevel)
                    ChartObjects.DrawLine("os wick" + index, index, Low[index], index, OversoldLevel, Colors.DarkRed);
                if (Math.Min(Open[index], Close[index]) < OversoldLevel)
                    ChartObjects.DrawLine("os body" + index, index, Math.Min(Open[index], Close[index]), index, OversoldLevel, Colors.Red, BodyWidth);
            }
        }
    }
}
Jiri's avatar
Jiri

Joined on 31.08.2015

  • Distribution: Free
  • Language: C#
  • Trading platform: cTrader Automate
  • File name: .ValueChart.algo
  • Rating: 4.17
  • Installs: 2960
  • Modified: 13/10/2021 09:55

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Comments
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HI
hiba7rain · 6 years ago

Great indicator

If you can add divergences and email alert to it would be nice thing

 

 

PR
provafx05 · 7 years ago

Dear tmc, can you make the dynamic version of value chart?

swingfish's avatar
swingfish · 7 years ago

this is a nice piece of work .. i just noticed that there is also a very clear divergence relation between the indicator and the real price ... that could be a nice edge to develop on

 
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