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: www.investopedia.com...-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. :)
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: www.investopedia.com...-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. :)
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
//
// @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)