LazyBear

Indicator: Schaff Trend Cycle (STC)

Another new indicator for TV community :)

STC detects up and down trends long before the MACD . It does this by using the same exponential moving averages (EMAs), but adds a cycle component to factor instrument cycle trends. STC gives more accuracy and reliability than the MACD .

More info: http://www.investopedia.com/articles/forex/10/schaff-trend-cycle-indicator.asp

Feel free to "Make mine" this chart and use the indicator in your charts. Appreciate any feedback on how effective this is for your instrument (I have tested this only with BTC ).



For people trading BTC:
-------------------------------

Try 3/10 or 9/30 for MACD (fastLength/slowLength). They seem to catch the cycles better than the defaults. :)
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//
// @author LazyBear
// If you use modify / use this code, appreciate if you could drop me a note. 
// 
study(title="Schaff Trend Cycle [LazyBear]", shorttitle="STC_LB", overlay=true)
length=input(10)
fastLength=input(23)
slowLength=input(50)
macd(source, fastLength, slowLength) =>
    fastMA = ema(source, fastLength)
    slowMA = ema(source, slowLength)
    macd = fastMA - slowMA
    macd
    

stc(length, fastLength, slowLength) => 
    factor=input(0.5)  
    m = macd(close,fastLength,slowLength)     
    v1 = lowest(m, length)
    v2 = highest(m, length) - v1    
    f1 = (v2 > 0 ? ((m - v1) / v2) * 100 : nz(f1[1])) 
    pf = (na(pf[1]) ? f1 : pf[1] + (factor * (f1 - pf[1]))) 
    v3 = lowest(pf, length) 
    v4 = highest(pf, length) - v3     
    f2 = (v4 > 0 ? ((pf - v3) / v4) * 100 : nz(f2[1])) 
    pff = (na(pff[1]) ? f2 : pff[1] + (factor * (f2 - pff[1])))
    pff

plot(stc(length,fastLength,slowLength),color=red, title="Schaff_TC")
//
// Uncomment the lines below if you want the center region
//
// ul=plot(25)
// ll=plot(75) 
// fill(ul,ll,color=red)
 
i was evaluating chartIQ and going through the list of built-in studies they offer when i spotted STC, which i never heard off before. so then i go read up on how it's computed. quite elegant and interesting! then, since i am a big fan of BB with p = 17, i notice that the 2 together (STC with default param settings) give some quite nice signals. so now more testing is in order. thanks LB for implementing it.
Reply
What settings would you advise for 1 minute chart scalping of ETF's?
Reply
Thank you for sharing!
+2 Reply
yw.
+4 Reply
Awesome!

Appreciate your efforts.
+2 Reply
Thx.
+5 Reply
For people trading BTC:
-------------------------------

Try 3/10 or 9/30 for MACD (fastLength/slowLength). They seem to catch the cycles better than the defaults. :)
+7 Reply
Interesting Indicator man! I like how responsive and accurate it is most times. Care to explain more of your math behind it?
+2 Reply
Thanks. The math is not mine. This was developed by Doug Schaff, CEO FX-Strategycom.

STC uses a fast Stochastics formula that includes the original %fastK and a smoothed variation of the %fastD. It runs this modified stochastic twice. Step1 runs it on MACD. Generated %fastD is the input for step2. Output of step2 (STC) is actually a %fastD of %fastD.

Smoothing constant ("factor"), MACD fastLength/slowLengths are all exposed for customization via the options page.
+6 Reply
snapshot


You can also use this indicator in its own pane (by unmerging down), as shown above.

If you do that, I suggest enabling the center region. Open the source code and uncomment these lines. Press Save and voila!

//
// ul=plot(25)
// ll=plot(75)
// fill(ul,ll,color=red)
//
+7 Reply
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