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The below code was from an interpretation of the description in the book
"Dynamic Trading Indicators" by Helweg & Stendahl. David Stendahl later
posted a copy of his MTA presentation which included the Value Chart code on
his website. That code appears to have been removed.
http://www.landmarkassetmanagement.com/valuechartsmta.asp
Bob Roeske
bobrabcd@xxxxxxx (no longer at earthlink)
----- Original Message -----
From: "Trey Johnson" <dickjohnson3@xxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, November 10, 2004 5:50 AM
Subject: RE: Value Charts
> Hello Jim,
> For everyone that doesn't use TS8, here you go. First one is
> Value Bands and the second is Value.
> Trey
>
> {coded by Bob Roeske bobrabcd@xxxxxxxxxxxxx 9/12/2003
> based on Stendahl's value charts in the book "Dynamic Trading
> Indicators"
> This companion indicator to Value indicator plots the value zone bands
> Mode(0) = Relative value,
> Mode(1)=Volatility adjusted value,
> Mode(2)=plots the +,-4 and +,-8 bands}
>
> Inputs: Mode(2),{default plots straight bands +,-4 and +,-8}
> Len(5), {used for value lookback length, try 21 for a
> longer view}
> SDLen(20); {used for the standard deviation length, use
> 200 or more for longterm
> that work out to the +,-4 and +,-8}
>
> vars:
> ValueRO(0),ValueRH(0),ValueRL(0),ValueRC(0),ValueO(0),ValueH(0),ValueL(0
> ),ValueC(0),Vfactor(0);
>
> value1=average(0.5*(H+L),Len);
>
> If mode=0 then begin
> ValueC=c-value1;
>
> plot1(2*stddev(ValueC,SDLen),"upper");
> plot2(stddev(ValueC,SDLen),"umid");
> plot3(-stddev(ValueC,SDLen),"lmid");
> plot4(-2*stddev(ValueC,SDLen),"lower");
> end;
>
> If Mode=1 then begin
> ValueC=C-value1;
> Vfactor=0.2*AVERAGE(high-low,len);
>
> If VFactor<>0 then
> ValueC=ValueC/VFactor
> else ValueC=0;
>
> plot1(2*stddev(ValueC,SDLen),"upper");
> plot2(stddev(ValueC,SDLen),"umid");
> plot3(-stddev(ValueC,SDLen),"lmid");
> plot4(-2*stddev(ValueC,SDLen),"lower");
> end;
>
> If mode=2 then begin
> plot1(8,"upper");
> plot2(4,"umid");
> plot3(-4,"lmid");
> plot4(-8,"lower");
> end;
>
>
> {Coded by Bob Roeske bobrabcd@xxxxxxxxxxxxx 9/12/2003
> based on Stendahl's value charts in the book "Dynamic Trading
> Indicators"
> Mode(0) = Relative value,
> Mode(1)=Volatility adjusted value,
> This indicator is used with the companion ValueBands indicator
> Len in both indicators should be the same value}
>
> Inputs: Mode(1),
> Len(5); {used for value lookback length, try 21 for a
> longer view}
>
> vars:
> ValueRO(0),ValueRH(0),ValueRL(0),ValueRC(0),ValueO(0),ValueH(0),ValueL(0
> ),ValueC(0),Vfactor(0);
>
> value1=average(0.5*(H+L),Len);
>
> {Relative value}
> If Mode=0 then begin
> ValueO=O-value1;
> ValueH=H-value1;
> ValueL=L-value1;
> ValueC=c-value1;
>
> plot1(valueO,"O");
> plot2(valueH,"H");
> plot3(valueL,"L");
> plot4(valueC,"C");
> end;
>
> {volatility adjusted value}
> If Mode=1 then begin
> Vfactor=0.2*AVERAGE(high-low,len);
>
> ValueO=O-value1;
> ValueH=H-value1;
> ValueL=L-value1;
> ValueC=c-value1;
>
> If VFactor<>0 then
> ValueO=ValueO/VFactor
> else ValueO=0;
>
> If VFactor<>0 then
> ValueH=ValueH/VFactor
> else ValueH=0;
>
> If VFactor<>0 then
> ValueL=ValueL/VFactor
> else ValueL=0;
>
> If VFactor<>0 then
> ValueC=ValueC/VFactor
> else ValueC=0;
>
> plot1(valueO,"O");
> plot2(valueH,"H");
> plot3(valueL,"L");
> plot4(valueC,"C");
> end;
>
>
> -----Original Message-----
> From: Jim. [mailto:jim_booner@xxxxxxx]
> Sent: Wednesday, November 10, 2004 6:35 AM
> To: omega-list@xxxxxxxxxx
> Subject: Value Charts
>
>
> Hello,
>
> does someone know how to build Value charts by David Stendahl?
> I found his presentation on www.landmarkassetmanagement.com/home.htm
> or maybe someone knows if he explains in his book how to build these
> charts/indicator in tradestation.
>
> thanks Jim
>
>
>
>
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