CHT Value Chart V2.5.3 Indicator

CHT Value Chart V2.5.3 Indicator

CHT Value Chart V2.5.3 Indicator For MT4 provides a value chart with overbought and oversold forex trading signals.

The CHT value chart V2.5.3 indicator for MT4 plots an additional value chart as a separate indicator window. The indicator plots green and red candles and plots oversold and overbought levels. So, forex traders can anticipate price reversals if the value chart hits the oversold or overbought levels. As a result, traders will be able to identify the best entry points and buy and sell accordingly.

The indicator works well for new and advanced forex traders. However, new traders should understand the oversold and overbought trading strategies and also apply price action for confirmation of the trading signals. Whereas, advanced forex traders can use the indicator in confluence with other indicators and apply them in complex trading strategies.

The indicator works well in all intraday price charts and the daily, weekly, and monthly charts. Additionally, forex traders can download the indicator for free and install it easily.

CHT Value Chart V2.5.3 Indicator For MT4 Trading Signals

The above GBPUSD H1 candlestick price chart shows the CHT Value chart V2.5.3 indicator for MT4 in action. The indicator plots the bearish candles as red and bullish candles as green. Additionally, the overbought level is in the green line and the oversold level is in the red line.

If the candles on the value chart hit the green oversold line it indicates a potential trend reversal is due. So, forex traders can enter the market with a buy trade and place a stop loss below the previous swing low.

Similarly, once the candles in the value chart touch the overbought line traders can anticipate a bearish trend. So, traders can place a sell trade with a stop loss above the previous swing high. The indicator does not provide a profit target. So, traders should book profit with a good risk-reward ratio.

As the indicator only provides overbought and oversold levels and anticipates a trend reversal. So, for best trading results, traders should confirm the entry points by using price action or any other indicators. In fact, the indicator works best as a part of the trading strategy and should not be used alone.

Conclusion
The CHT value chart V2.5.3 indicator for MT4 is an oscillator with overbought and oversold levels. Though forex traders can use the overbought and oversold levels and trade similar to other technical indicators, the signals should be confirmed using price action or other indicators. Additionally, it’s free to download and install.