Schaff TCD RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Doug Schaaf has created a number of indicators designed to evaluate trends.
In one of his indicators, he uses what he calls "Shaff CD" (actually the MACD signal line, rather than using MACD). The resulting indicator has the advantage of placing the Schaff Trend CD on a scale of 0 to 100, making it easier to identify potential overbought and oversold levels in currency trends, and using RSI for the final calculation.
Attachment download
📎 schaff_tcd_rsi.mq5 (15.68 KB)
Source: MQL5 #20498
Schaff TCD RSI - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
Schaff TCD RSI - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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