The Schaff Trend Cycle
is a method, developed by Doug Schaff and based on the concept that trends also have repeating high and low patterns, or cycles. This is a modified MACD
line, run through a modified stochastic
algorithm and smoothed with Wilders’ smoothing in order to estimate the final Schaff Trend Cycle
) indicator. Its purpose is to identify the direction, in which a trend cycle is moving and possible peaks and bottoms within this cycle.
If this is interesting you should also take a look at MACD
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