Value Charts are used to determine bullish and bearish divergences, or are used as a trading filter. For more information on this tool please refer to David Stendahl’s book - Winning with Value Charts: The Key to Consistent Trading Profits.
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: VC()
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Value Chart tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Value Chart tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Value Chart to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Double: Doubles the length of the Bell Curve lines displayed on the Value Chart.
Plot Colour: Adjusts the Plot colour of the Value Chart.
Show Bell: Enables / Disables the Bell Curve display on the Value Chart.
Bell Transparency: Use this field to make the Bell Curve image transparent. The required level of transparency is achieved by sliding the scroll bar to the left or right.
First Deviation: Adjusts the colour of the First Deviation line displayed on the Value Chart.
Second Deviation: Adjusts the colour of the Second Deviation line displayed on the Value Chart.
Third Deviation: Adjusts the colour of the Second Deviation line displayed on the Value Chart.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Value Chart value will be displayed in the Price Scale.