Summary of 📥 CHT Value Chart Indicator for MetaTrader 4&5 - Free Download - [TFlab]

The video provides a tutorial and guide on the CHT Value Chart Indicator designed for MetaTrader 4 and MetaTrader 5 platforms, available for free download from the Trading Finder website.

Key Technological Concepts and Features:

• Platform Compatibility: The indicator works on both MetaTrader 4 and MetaTrader 5.
• Installation: Users download the indicator file, drag it onto the chart from the Navigator section, and must enable the "Allow DLL Imports" option in settings to activate it.
• Functionality:
  • The indicator removes trends from the price chart to focus solely on candlestick cycles.
  • It highlights overbought and oversold areas by showing levels, with key thresholds at 12 and 15 (15 being the strongest signal).
  • Displays bullish and bearish trends in a way that helps identify price reversals.
• Customization Options:
  • Users can select from three display themes: Light, Dark, or Custom.
  • The calculation period (default 5) can be adjusted to fine-tune sensitivity; the presenter sets it to 10.
  • Bullish and bearish candle colors are customizable (e.g., dark green for bullish, blue for bearish).
• Algorithm: The indicator normalizes candlesticks based on the selected period to improve the identification of price reversal zones.

Usage and Benefits:

• Helps traders identify overbought and oversold conditions without the distraction of trend lines.
• Facilitates spotting price reversal points more clearly through normalized candlestick cycles.
• Adjustable settings allow traders to tailor the indicator's appearance and sensitivity to their preferences.

Tutorial Highlights:

• Step-by-step instructions on how to add the indicator to MetaTrader charts.
• Explanation of key settings and how to customize colors and calculation periods.
• Visual demonstration of how the indicator changes the chart's appearance and highlights critical levels.

Call to Action:

Viewers are encouraged to share comments and suggestions in the video comment section.

Main Speaker/Source:

• The tutorial is presented by a representative or team from TFlab, the creators or distributors of the CHT Value Chart Indicator.

Notable Quotes

— 00:56 — « The CHT value chart indicator highlights overbought areas by removing trends, showing a bullish trend followed by a bearish trend at level 12. »

— 01:04 — « This indicator removes trends from the chart and only displays the candlestick cycles without any trend in the oscillator window. »

— 01:30 — « We can use the identification of overbought areas at level 12 to our advantage, with the maximum level adjustable up to 15. »

— 02:00 — « Select bullish and bearish candle colors; this indicator normalizes candles based on the period to identify price reversal areas. »

— 02:55 — « This indicator uses an algorithm that normalizes the candles based on the period we provide, making it easy to identify price reversal areas. »

Category

Technology

Video