CHT value charts V2.5.3 for MT4 display an additional value chart in a separate window. This indicator shows green and red candles, and also plots oversold or overbought levels. Forex traders are able to anticipate price changes if the value charts reach the oversold and overbought levels. Forex traders can identify which entry points are best and then buy or sell according to these entries.
This indicator is suitable for both novice and experienced forex traders. New traders need to be able to recognize the differences between oversold trading strategies and overbought trade strategies. They also need price action in order for the indicator’s confirmation. Advanced forex traders may use this indicator with additional indicators to create complex trading strategies.
This indicator is compatible with all intraday price and daily charts, as well as weekly and monthly charts. Forex traders may also download and easily install the indicator.
CHT Value Chart V2.5.3 Indicator For MT4 Trading Signals
Indicator plots bullish candles in green and bearish candles in red. The indicator also shows the overbought and oversold levels.
The green oversold indicator indicates that a trend reversal may be imminent if the candle on the value charts reaches the line. Forex traders may enter the market by placing a buy order and a stop-loss below the swing low.
Similar to the above, traders will anticipate a bearish tendency if the candle in the value charts touches the overbought lines. The trader can then place a buy order with a stop-loss above the swing high. This indicator doesn’t provide any profit targets. The indicator does not provide a profit target. Therefore, traders must book profits with a high risk-reward ratio.
The indicator does not provide overbought or oversold levels, but it can predict a trend reversal. For best results in trading, traders must confirm entry points using price action and any other indicator. The indicator is best used as part of a trading strategy.
CHT value chart V2.5.3 is an indicator with overbought or oversold levels for MT4. Forex traders may use overbought or oversold levels to trade like other technical indicators. However, it is important that the signals be verified using price action and other indicators. It’s also free to download.