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Dynamic Trading Indicators – Winning with Value Charts and Price Action Profile

When reading this book, you will learn that Value Charts work in

tandem with another new and powerful market analysis tool, Price Ac-
tion Profile. In order to determine the frequency that a market trades

within each Value Chart price interval, it is necessary to study the cor-
responding Price Action Profile for the market under consideration.

Just as the name indicates, a Price Action Profile plots the distribution

of Value Chart price activity. As we will soon learn, Price Action Pro-
files allow investors to determine the degree in which a market is

overvalued (overbought) or undervalued (oversold). By using conven-
tions from modern statistics, this powerful complement to Value

Charts enables investors to define Value Chart price ranges associated
with fair value, overbought, and oversold price levels.
Value Charts and Price Action Profile were developed with both
the novice and seasoned investor in mind. By simply viewing price in
this new format, investors are able to gain valuable insight into the
valuation of any market. These innovative new market analysis tools
do not represent the black box. Rather, they represent a valuable and
necessary market analysis tool that should be a part of every serious
trader’s arsenal of technical charting and market analysis tools. Value
Charts and Price Action Profile meet the most important requirements
of an effective market analysis tool; they are easy to learn, they can be
deciphered quickly, and they can be interpreted only one way.
For trading system developers, Value Charts open up a whole

new universe of relative price levels that can be utilized to drive trad-
ing systems and market indicators. Until now, most traders have had

access to only a limited number of reference price levels. These price
levels are used to instruct trading systems about when to enter or exit
market positions. A reference price level is “a definable point at an
identifiable time and price.” Using daily bar charts as an example, the

reference price levels include the opening price of the day, the clos-
ing price of the day, or the highs or lows of previous daily price bars.

The high and low of the current price bar is for the most part undefin-
able until the trading session (day) is over. By utilizing Value Charts,

traders can now create trading systems that have the ability to enter
or exit markets at relative price levels intraday. The ability to define
relative price levels, and hence relative value levels, during a trading

period represents an exciting breakthrough in the field of trading sys-
tem development.

Quantifiable information is useful information. Many market
analysis strategies rely too heavily on the eye of the beholder when
determining if certain rules or conditions are met. Market analysis
strategies that rely on the judgment of a trader often contain too much
gray area and have little long-term usefulness. Value Charts and Price
Action Profile, on the other hand, generate quantifiable information

that can be interpreted only one way. This allows traders to know

when a certain condition is being met during the trading day, which al-
lows them to act confidently.

Most importantly, Value Charts and Price Action Profile help keep
the two emotions in check that have the potential to destroy the efforts
of any trader, greed and fear. These new market analysis techniques
allow traders to enforce discipline and avoid being suckered into the

markets at short-term peaks and scared out of the markets at short-
term bottoms. Pilots will be the first to testify that the artificial horizon

is much more reliable than their physical sense of up and down. With-
out this key instrument, pilots would be forced to follow their own

sense of direction and ultimately risk crashing into the earth when
they exercise poor judgment. In the trading arena, Value Charts and
Price Action Profile are the instruments that will help keep greed and
fear in check for any trader. They have the ability to help keep traders
who have typically followed their emotions in the decision making

process from making costly decisions. The artificial horizon repre-
sents the current condition (orientation) of the airplane, and Value

Charts and Price Action Profile represent the current condition (valua-
tion) of the markets. Best of all, these innovative new market analysis

tools were developed for anyone, regardless of trading experience, to
learn and use. In writing this book, it was our top priority to keep
things as simple as possible.

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