Thank you for this indicator. I tested it against a version that I found for MT4 and when it didn't match I fixed a few things and now it matches exactly and also gives great results.
I also changed the overbought and oversold levels to 80/20 instead of 75/25 but you can change it back if you want. (MT4's version has my 80/20 levels).
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just heard of this inidicator, and took a look at its picture above
it seems to lag a move, irrespective of the interval on the chart, and generally with indicators like these, one get's advance notice of a move by doing mental counts of the Ticks from the Dome, not by watching prices stream by on T&S
another indicator that is highly effective and remains so, whether or not those HFT analytics fade these common retail indicators.
Williams %R has great value in that its just like a Stochastic in having almost zero lag wit price action and helps one to see what phase relative to most recent price action, a potential trade might be in,
namely if the W%R is peaking then going long from those levels might not be best, although it still works under some conditions
conversely, if the W%R is base-lining then going short at that point might be the worse possible time to short
so how does this Schaff indicator beat or exceed those existing established ones?
I am trying to augment he STCStudy.TS indicator for back testing use in ThinkorSwim. I am usually able to augment an indicator and get it to add an order without problem. Unfortunately it will not let me add an order no matter how I play with this code. Among other attempts, I tried replacing the final lines of code like so:
# smoothed calculation for %FastD of PF
rec PFF = compoundValue(1, PFF + (Factor * (Frac2 - PFF)), Frac2);
But no matter what I try, it will not add an order on the chart. I know I must be doing something wrong from the point where I am opting to define SchaffTC instead of plotting it as a study. But I don't know what exactly...