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Value Chart Probability


This updated version of the Value Chart indicator introduces new parameters in the way the indicator is calculated.

Its main objective is to analyze the current range and attempt to predict the direction of the ongoing candle, displaying an arrow indicating where the candle is expected to move.

The calculation structure is based on the last 1,000 candles. First, a weighted average is calculated for each candle. Then, the modified Value Chart calculation is applied to determine the range and strength of the movement. Finally, an arrow is displayed, indicating the direction in which the trade should be executed.

How to use:
Wait for an arrow to appear and execute the trade immediately within the same candle.


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Version 1.1 2024.11.28
In this upgrade: An RSI filter was added to provide more accurate signals in support and resistance zones.

In the previous version, at the end of a trend, we could face the unfortunate situation where market conditions change very quickly due to a high-volatility candle. This could cause a sudden shift in the value chart settings, requiring recalculation due to the extreme volatility.

To prevent or minimize this effect, an RSI filter was introduced to identify the end of a trend, helping to avoid highly specific moments of abrupt changes.