CHT Value Chart Indicator for MetaTrader 5 Download - Free - [TFlab]

The CHT Value Chart Indicator is specifically designed for trend analysis and identifying Overbought and Oversold conditions.

This oscillator presents a value chart in the form of colored bars or candles in a separate window. It showcases price data and identifies potential reversal points.

CHT Value Chart Indicator Table

The key specifications of this indicator are outlined in the table below:

Indicator in an Uptrend

In the price chart of the USD/CHF pair (US Dollar to Swiss Franc), overbought and oversold zones are marked. The price moves upward after dropping to the -8 level on the indicator line.

Traders can open Buy positions in these zones and exit their trades as the price reaches the overbought zones.

Indicator in a Downtrend

In the chart of the AUD/JPY pair (Australian Dollar to Japanese Yen) in a 1-hour timeframe, the price enters the overbought zone and initiates a downward trend.

Traders can use this indicator as a complementary tool, aligning it with their strategies to determine entry and exit points for their trades.

CHT Value Chart Oscillator Settings

This indicator offers straightforward settings with two sections:

• Chart Theme: Customize the indicator’s background theme
• Length: Define the number of candlesticks required for analysis
• Bullish Color: Set the color for bullish candles in the oscillator window
• Bearish Color: Set the color for bearish candles in the indicator window

Conclusion

The CHT Value Chart Oscillator is a technical analysis tool for MetaTrader 5. It offers a value chart to highlight overbought and oversold zones.

It identifies potential price reversal points and effectively analyzes significant market trend changes across all timeframes.