Value Chart Indicator - Wealth Lab Forum

Value Chart Indicator

Author: mgreco19

Creation Date: 2/2/2018 2:18 AM

Wealth Lab » Technical Indicators » Value Chart Indicator

mgreco19

2/2/2018 2:18 AM

Is the Value Chart Indicator available? This is an overbought/oversold indicator. I wasn't able to find this while searching the indicator library or forums.

https://quantstrattrader.wordpress.com/2014/08/23/vci-the-value-charts-indicator/

http://www.tradesignalonline.com/en/lexicon/view.aspx?id=Value+Charts+Indicator

Eugene

2/2/2018 7:53 AM

Here you have it. My rendition is based on this code (the histogram) and this code for pseudo OHLC.

CODE:
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Size:

Color:

Here you have it. My rendition is based on [link=https://www.prorealcode.com/prorealtime-indicators/value-chart-highlow/]this code[/link] (the histogram) and [link=https://www.prorealcode.com/prorealtime-indicators/value-chart-indicator/]this code[/link] for pseudo OHLC.

[code]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class MyStrategy : WealthScript
	{
		protected override void Execute()
		{	
			var ExtDepth = 5;

var Overbought = 8;
			var SlightlyOverbought = 6;
			var Oversold = -8;
			var SlightlyOversold = -6;
 
			var sumHigh = Sum.Series(High, ExtDepth);
			var sumLow = Sum.Series(Low, ExtDepth);
			var floatingaxis = 0.1 * (sumHigh+sumLow);
			var volatilityunit = 0.04 * (sumHigh-sumLow);
			var vcHigh = (High-floatingaxis) / volatilityunit;
			var vcLow = (Low-floatingaxis) / volatilityunit; 
			var vcOpen = ((Open-floatingaxis) / volatilityunit);
			var vcClose =((Close-floatingaxis) / volatilityunit);

HideVolume(); var h = LineStyle.Histogram; var d = LineStyle.Dashed;
			var g = Color.Green; var r = Color.Red;
			var p = CreatePane(50,false,false);
			PlotSeries(p, vcHigh, g, h, 3 );
			PlotSeries(p, vcLow, r, h, 3 );
			DrawHorzLine(p, Overbought, g, d, 1 );
			DrawHorzLine(p, SlightlyOverbought, g, d, 1 );
			DrawHorzLine(p, Oversold, r, d, 1 );
			DrawHorzLine(p, SlightlyOversold, r, d, 1 );
			
			var p2 = CreatePane(50,false,false);
			PlotSyntheticSymbol(p2, string.Format("{0} ValueChart",Bars.Symbol), vcOpen, vcHigh, vcLow, vcClose, Volume, g, r);
			DrawHorzLine(p2, Overbought, g, d, 1 );
			DrawHorzLine(p2, SlightlyOverbought, g, d, 1 );
			DrawHorzLine(p2, Oversold, r, d, 1 );
			DrawHorzLine(p2, SlightlyOversold, r, d, 1 );
		}
	}
}[/code]