[wsam29]

I take it some of you have seen their newest indicator they are promoting.

Just by eyeballing it, it looks like a good indicator.

I've tried searching for it and came up short.

Value Chart Video

Value Chart Video 2

From what I understand the indicator was created by John Clayburg, correct me if I am wrong.

Either way, I like the indicator

Clayburg.Com - Your Source on the Web for Self-Adaptive Systems and Indicators

[thrunner]

Stratman has published some capable code in this thread based on earlier eKam and goose studies over at the TS forum.
The idea of opening range break out or establishing trend based on other opening range price action has been around for quite some time. It seems like every few years they add a new twist or flavor to the old indicators and call it the latest thing.

I would be very careful about believing claims of 80% accuracy or some such number in predicting trend. If it is 80%, not too many people have seen the details (actual data) of such studies. Anything approaching 80% in trading is probably not wildly published.

[wsam29]

I was inquiring about the +8/-8 value chart indicator, not the Directional Day Filter.

Thanks

[Blu-Ray]

Hi Winfred

Good to see you back, here's the Value Chart Indicator you're after.

Cheers

Blu-Ray

[wsam29]

Omg, I Love You!!!

[Soultrader]

Hi,

Is there a link to a site where it explains the calculations behind this indicator? Thanks

[Blu-Ray]

Originally Posted by Soultrader »

Hi,

Is there a link to a site where it explains the calculations behind this indicator? Thanks

I've had a quick look and couldn't find a link to explain the exact calculations, however I can provide the code if you wanted. What I did find was an interview by the creator of the value chart, David Stendahl, talking to tradestation.

Here's the link:

Chart Research - TradeStation Interview

Hope this helps

Blu-Ray

[Soultrader]

HI Blu-Ray,

The code would be perfect if you dont mind. I am trying to replicate this in IRT. Thanks