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(binned per thread starter's request) Schaff Trend Cycle

  • #81
  • Nov 4, 2017 12:05am Nov 4, 2017 12:05am
i have uploaded the new template and indicator and i got noting on my chart, i believe the reason we have the new template and indicator is to avoid edit coder, the truth is that i dont understand what to edit,when i got to the coder,so please help upload a working template and indicator that require no edit or adjustment.
  • #82
  • Nov 4, 2017 4:06am Nov 4, 2017 4:06am
I hereby post the compiled (ex4) version of the indicator. I think it works for everyone.
Attached File(s)
File Type: ex4 Schaff_Trend_Cycle_-_adjustable_smoothing.ex4   24 KB | 1,046 downloads
  • #83
  • Nov 4, 2017 4:24am Nov 4, 2017 4:24am
Quoting Indrek
I hereby post the compiled (ex4) version of the indicator. I think it works for everyone. {file}

Thank you.
  • #84
  • Nov 4, 2017 7:09am Nov 4, 2017 7:09am
Quoting Indrek
2. Trade should not be taken if entry is too far from last low/high. Normal wave size is approximately 3 * ATR. So, for me it is always the limit.
Hello
What is your ATR period ? 14 ?
Thank you
  • #85
  • Nov 4, 2017 7:41am Nov 4, 2017 7:41am
I've done a template for people who like to scalp. Its strictly for 5 min timeframe. Check it out for yourself. I know some traders like the action of scalping. I think this template will do wonders. I can say 10-50> pips per pair depending on your skill level. GBP pairs will do well. You can play with the settings yourself but the main thing is to keep INDICATOR timeframe on 15min (If you desire).
Attached File(s)
File Type: tpl Schaff Trend Cycle 'Scalp'.tpl   4 KB | 775 downloads
  • #86
  • Nov 4, 2017 8:13am Nov 4, 2017 8:13am
what are the exit rules to your system rvanscho?
  • #87
  • Nov 4, 2017 8:21am Nov 4, 2017 8:21am
Quoting Tiivaa
{quote} Hello What is your ATR period ? 14 ? Thank you
I use ATR of one month on any timeframe. On M30 it is 1044, on H1 - 522.
Short period like 14 is not representative. We cannot make any conclusions about the market based on information from last 14 or 7 hours.
  • #88
  • Nov 4, 2017 8:30am Nov 4, 2017 8:30am
Quoting nozzer
what are the exit rules to your system rvanscho?
A few options.

1. In a trending market, you can watch price to see if corrects (sideways movement).

2. ATR stops indicator (google)

3. If your trades trend has been broken. i.e the use of trend lines.

4. Set TP of 20-40pips depending on the pair. You can set less when scalping.
  • #89
  • Nov 4, 2017 8:33am Nov 4, 2017 8:33am
Quoting Indrek
{quote} I use ATR of one month on any timeframe. On M30 it is 1044, on H1 - 522. Short period like 14 is not representative. We cannot make any conclusions about the market based on information from last 14 or 7 hours.

What indicator do you use?

The ATR form mt4 doesn't make sense
  • #90
  • Nov 4, 2017 8:39am Nov 4, 2017 8:39am
Quoting rvanscho
{quote} What indicator do you use? The ATR form mt4 doesn't make sense
Why??
  • #91
  • Nov 4, 2017 8:45am Nov 4, 2017 8:45am
Quoting Indrek
{quote} I use ATR of one month on any timeframe. On M30 it is 1044, on H1 - 522. Short period like 14 is not representative. We cannot make any conclusions about the market based on information from last 14 or 7 hours.
Hi,
I learn something. And very interesting

Thanks a lot
jf
  • #92
  • Nov 4, 2017 8:51am Nov 4, 2017 8:51am
Quoting Indrek
{quote} Why??

Can you elaborate on your ATR method?
  • #93
  • Nov 4, 2017 9:28am Nov 4, 2017 9:28am
Quoting rvanscho
{quote} Can you elaborate on your ATR method?
I use ATR only for getting the number. As I said, I do not take a trade if last high/low is more than 3 * ATR. I have also used ATR for setting SL and TP for some systems. Usually it has been 3* ATR for SL and 4 * ATR for TP.
  • #94
  • Nov 4, 2017 10:44am Nov 4, 2017 10:44am
Quoting Indrek
I hereby post the compiled (ex4) version of the indicator. I think it works for everyone. {file}
thanks for the indicator but it has only one line not 2 like others....
  • #95
  • Nov 4, 2017 10:49am Nov 4, 2017 10:49am
Quoting dkarev
{quote} thanks for the indicator but it has only one line not 2 like others....
Of course one. You have to attach it twice into the same window.
But with the latest version we do not need two.
  • #96
  • Nov 4, 2017 11:37am Nov 4, 2017 11:37am
Quoting Indrek
{quote} Of course one. You have to attach it twice into the same window. But with the latest version we do not need two.
so you are saying i can only work with the single line and still arrive at same result as if am using the one with 2 indicator
  • #97
  • Nov 4, 2017 11:38am Nov 4, 2017 11:38am
Quoting rvanscho
Hi all, I've been testing out these new settings. It definitely makes entries and exits easier. There will be signals that don't make a lot of pips but we simply use the trend line filter process. Let me know what you think. I hope all took those GBP trades after the rate hike yesterday. The system showed a sell for all GBP pairs. Regards. {file} {image}
What do you think about use these settings on daily? Is it good or do you think there is a better setting?

And regard the second signal line? (The one with the major timeframe) Have you noticed some differences between basic 10,23,50,3 on m15 and daily?
  • #98
  • Edited 12:24pm Nov 4, 2017 12:04pm | Edited 12:24pm
Quoting dkarev
{quote} so you are saying i can only work with the single line and still arrive at same result as if am using the one with 2 indicator
Your result does not depend on the number of indicators. It depends on how you read the charts and indicators, and what decisions you make while managing your trades.
rvanscho (https://www.forexfactory.com/rvanscho) has showed us a way to enter the trades but everything else depends on each trader's discretion.
But to answer your question: I personally do not see any additional value from second (main trend) line in the indicator window.
  • #99
  • Nov 4, 2017 12:11pm Nov 4, 2017 12:11pm
I think, any trader should know his/her tools. That is why I suggest to do some additional reading about the indicator we use: http://www.investopedia.com/articles/forex/10/schaff-trend-cycle-indicator.asp.
Please, pay special attention to the paragraph that is dealing with indicator settings as these are up to any trader's taste:

"One can increase the cycle count signal line from 10 and adjust upwards to fit the exact market. This would represent smaller market turns and a more accurate reading. Caution is advised not to increase the cycle count higher than 40, since that is the maximum currency count. One can also adjust downward to generate many market turns, but they may not be accurate signals. For longer time framed charts such as the weekly, it is recommended to adjust the EMAs to 12 and 26 or 7 and 13, and allow the same amount of cycle counts at 20 as the signal line. For shorter time frames, such as the 10-minute chart, increase the EMAs to 115 and 240, and allow the same cycle count. A personal recommendation is to allow the indicator to work as intended with the recommended settings, especially when it comes to cycle counts. Better to adjust the EMAs rather than the cycle count trigger line (http://www.investopedia.com/terms/t/trigger-line.asp) if one has to adjust at all."
  • #100
  • Nov 4, 2017 4:17pm Nov 4, 2017 4:17pm
Quoting rvanscho
I've done a template for people who like to scalp. Its strictly for 5 min timeframe. Check it out for yourself. I know some traders like the action of scalping. I think this template will do wonders. I can say 10-50> pips per pair depending on your skill level. GBP pairs will do well. You can play with the settings yourself but the main thing is to keep INDICATOR timeframe on 15min (If you desire). {file}
Hi. I think this strategy seems interesting. In this template you don't have main trend line,obviously because of low tf. But does it apply the same rules as your H1 template?
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