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).
Noam
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I'm looking for a version of the Schaff Trend indicator for the MT4 - BTW I have no idea how to "program" this - I think I have to "code" but am needing info as to how to get it into MT4?
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Posts: 798 since Oct 2009
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:
From:
[.....
# smoothed calculation for %FastD of PF
rec PFF = compoundValue(1, PFF[1] + (Factor * (Frac2 - PFF[1])), 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...
The results are terrible thus far. However, I am willing to share in hopes that someone can improve on my work, and share back, that way we can all benefit.
As it is now, there is too much whipsawing with the Schaff and And TOS' backtesting format is not the best. I feel like the exit criteria should not necessarily be a reversal in the SCHAFF Cycle but maybe something else. In any event you play with it and post improvements. Here is how to send a short order when the SCHAFF fires short.
Add the following as a STRATEGY (not as a study)
Begin code:
Hello Everyone!
I'm new hear.
I'm looking for the TOS code for the Schaff Trend Cycle indicator. No tweaks, no changes. I found one file / attachment called STCSTUDY.ts, but it wants to open in a media player. ??? I believe the thinkscript is just straight text.
Can anyone help? THANKS IN ADVANCE
Open a chart in thinkorswim, then go to Edit Studies and Strategies and select the Import on the bottom left, then select the file. You can also right click the file, Open With and select Notepad, copy the code, then in the Edit Studies and Strategies select New... and paste the code there.
It won't work by double clicking. What you have to do is from within the TOS application open a chart, then in the "studies menu"->"edit studies..." a window will open and on the lower left of that window click "Import..." and finally navigate to the file on your computer from that TOS window and click "Open". After that the study will be available in the list of studies for usage.
Hi - hoping someone can help me out with this code below -
Question In "rec Frac1 = if Value2 > 0 then ((XMac - Value1) / Value2) * 100 else Frac1[1];
What is "Frac1[1]"
Question again in "rec PF = CompoundValue(1, PF[1] + (factor * (Frac1 - PF[1])), Frac1);
What is PF[1]? and also same with Frac2[1] and PFF[1]?????? where do I get those values from? does the bracket [] just mean default the Frac1 value to 1 if Value2<=0 and so on with the others?
Would appreciate some assistance with this
Will V L
Hi
Ok understand the [] means just previous value - no worries and thank you - so Just a bit more help needed if possible
In the line below for the STC calculation what does "CompoundValue" mean?
I know the rest but for the life of me don't get CompoundValue
Thx
Will V L
# smoothes calcuation for %FastD of MACD
rec PF = CompoundValue(1, PF[1] + (factor * (Frac1 - PF[1])), Frac1);