Schaff Trend Cycle MT5 - MetaTrader 5 Script | Forex Indicator Download - MetaTrader 5 Resources

Schaff Trend Periods (MetaTrader indicator) — is a cyclic oscillator created by calculating the MACD online stochastic indicator using periods. The result is an improved version of the oscillator that does not fluctuate during trends and reacts very quickly to changes. It was developed by Doug Schaff, who hypothesized that currency trends accelerate and decelerate in cycles. Its algorithm was made public in 2008. Schaff Trend Cycles attempts to combine two different methods for determining trend direction changes - MACD and the Smoothed Stochastic Oscillator. The value of this indicator fluctuates between 0 and 100. Two trigger levels are used—25 and 75. Optional alerts available. You can download the indicator MT4 , MT5

The simplest and most obvious way to use this indicator in trading is to sell when the line falls below the 75 level and buy when the line rises above the 25 level. To filter out some of the worse signals, Doug Schaff (author of Schaff's Trend Cycles) offers the following approach: For a buy signal, the bar following the trigger bar should close above the trigger bar high; for a sell signal, the bar following the trigger bar should close below the trigger bar low. Trigger bars are bars formed when the Schaff trend cycle rises above 25 or falls below 75.

Attachment download

📎 schafftrendcycle.mq5 (17.13 KB)

Source: MQL5 #55511