He has explained the indicator in his interview to TradeStation Technologies Inc.
Stendahl interview wrote:Traditional bar charts may not provide the information traders need to make appropriate trading decisions. Value Charts represent a market analysis tool that allow traders to trade stocks, bonds and futures with additional poise and confidence. It's a different view of the markets because they were developed to display the valuation of the market.
Read the full interview text for details about this indicator and it's usage: http://www.chartresearch.com/TSInterview.htm
The formula of the indicator is:
OPEN = (OPEN - MVA(TYPICAL)) / (ATR / ATR_N)
HIGH = (HIGH - MVA(TYPICAL)) / (ATR / ATR_N)
LOW = (LOW - MVA(TYPICAL)) / (ATR / ATR_N)
CLOSE = (CLOSE - MVA(TYPICAL)) / (ATR / ATR_N)
TYPICAL = (HIGH + LOW + CLOSE) / 3
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The indicator was revised and updated