MTF Schaff Trend w/ Alerts | Forex Factory

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Attachments: MTF Schaff Trend w/ Alerts
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MTF Schaff Trend w/ Alerts

  • #1
  • First Post: Sep 2, 2010 12:49am Sep 2, 2010 12:49am
To my fellow traders,

I bid you good day! This system that I'm presenting to you I've used quite a lot, Its been tested with good results. It actually also helps to compliment any other system that you may be using.

Quote
The STC detects up and down trends long before the MACD. It does this by using the same exponential moving average (EMAs), but adds a cycle component to factor currency cycle trends. Since currency cycle trends move based on a certain amount of days, this is factored into the equation of the STC Indicator to give more accuracy and reliability than the MACD.
credit given to investopedia at http://www.investopedia.com/articles...-indicator.asp

Here are the rules.

Timeframe: any

Pairs: any

You sell when the Schaff Trend has dropped below the 90/75 level, and buy when Schaff Trend has gone above the 10/25 level. I personally use the 25 and 75 levels, but I've seen both settings used by other traders.

Tip: Don't use the MTF Schaff Trend indicator by itself. I use the indicator with another system to provide exit signals while I enjoy life. I personally use the M5 chart to enter a trade and the H1 (60) chart to provide exit signals.

Tip: I use the indicator so I can have my life, and not sit on my laptop all day, I set the email alert to true, I have a gmx.com email account that use only for my mt4 email alerts, since I have an iphone I use an app called PushMail to alert me to these particular emails, I can use my iphone to login directly to my forex account and exit the trade once the indicator has alerted me via my iphone app.

If you dont have an iphone or ipad, thats fine. You can use another piece of software I personally like called Thunderbird. You can configure to play a sound alert once you receive any particular email. Make sure your speakers are on!!

If anyone has any questions, please feel free to ask.

P.S. I would like to personally thank scalpz!!
Attached File(s)
File Type: zip MTF Schaff Trend v2.02.zip   2 KB | 9,988 downloads
  • #2
  • Sep 2, 2010 12:51am Sep 2, 2010 12:51am
Here is a few pictures of the MTF Schaff Indicator in action!! Look to the first post to determine the rules of entry and exit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdh1.gif Size: 23 KB
Click to Enlarge Name: usdcadm5_2.gif Size: 20 KB
  • #3
  • Sep 2, 2010 12:55am Sep 2, 2010 12:55am
hi Eurisko, thanks for the indictor, are there any other rules to using this indicator or other observations you are able to share about it?
  • #4
  • Sep 2, 2010 1:17am Sep 2, 2010 1:17am
hey rocwell,

Well...

the indicator I uploaded is MTF (multi-timeframe) which means you can use it for scalping, intraday or swing trading. Here's a possible guide on how you may want to set this up.

M1 -> M5

M5 -> M30 or H1

H1 -> H4 or D1

So basically, if you are using the M1 chart, perhaps set the timeframe to 5. If you like to trade on the M5 chart then maybe use the 30 or 60 timeframe and such.

Like I said previously, the MTF Schaff Indicator should be used with any other system you like, it helps to provide exit signals. Remember that an exit signal is when the indicator < 75/90 (less than) or when the indicator > 10/25 (greater than)

The main purpose of this indicator is to give traders back their lifes, so you can enjoy life more and still be able to make as many pips as possible.
  • #5
  • Sep 2, 2010 6:15am Sep 2, 2010 6:15am
Quoting eurisko
hey rocwell,

Well...

the indicator I uploaded is MTF (multi-timeframe) which means you can use it for scalping, intraday or swing trading. Here's a possible guide on how you may want to set this up.

M1 -> M5

M5 -> M30 or H1

H1 -> H4 or D1

So basically, if you are using the M1 chart, perhaps set the timeframe to 5. If you like to trade on the M5 chart then maybe use the 30 or 60 timeframe and such.

Like I said previously, the MTF Schaff Indicator should be used with any other system you like, it helps to provide exit signals. Remember...
Thanks for sharing. I wish anyone capable can produce a dashboard for MTF and mutiple pairs. Also clarify the exit again? Are you using the higher TF Schaff or using higher TF chart?
  • #6
  • Sep 2, 2010 6:18am Sep 2, 2010 6:18am
Quoting eurisko
To my fellow traders,

I bid you good day! This system that I'm presenting to you I've used quite a lot, Its been tested with good results. It actually also helps to compliment any other system that you may be using.

credit given to investopedia at http://www.investopedia.com/articles...-indicator.asp

Here are the rules.

Timeframe: any

Pairs: any

You sell when the Schaff Trend has dropped below the 90/75 level, and buy when Schaff Trend has gone above the 10/25 level. I personally use the 25 and...
I used the Schaff and if I recall it repaints. Is this true?
  • #7
  • Sep 2, 2010 8:29am Sep 2, 2010 8:29am
eurisko thanks for helping players to relax more off screen but do we stay in trade during NEWS or whats the rules for that?
  • #8
  • Sep 2, 2010 9:07am Sep 2, 2010 9:07am
Quoting eurisko
Here is a few pictures of the MTF Schaff Indicator in action!! Look to the first post to determine the rules of entry and exit.
one more thing plz..............so ur exit would be your entry in the opposite direction. CORRECT ME IF AM WRONG.OR ARE THE RULES?
  • #9
  • Sep 2, 2010 1:23pm Sep 2, 2010 1:23pm
Quote
I used the Schaff and if I recall it repaints. Is this true?
Finally, if i remember correctly it does repaint, I believe it repaints on the very last candle? Sometimes you will see the indicator drop a bit and reverse, this is why I use the 25/75 levels to provide an exit signal. It takes a bit more for the market to prove to me, that there is possibly a reversal and I should therefore exit the trade.

Quote
eurisko thanks for helping players to relax more off screen but do we stay in trade during NEWS or whats the rules for that?
webglobe, I also trade news, personally I don't use this indicator for trading news. I have two strategies for trading news, spike trading and market sentiment trading. I usually will stop trading a particular currency that news will be released for 1 hr before the release, or sometimes even much sooner, like NFP.

Quote
one more thing plz..............so ur exit would be your entry in the opposite direction. CORRECT ME IF AM WRONG.OR ARE THE RULES?
I personally enter my trades using another strategy, in my other strategy I use OSMA, moving averages, volume indicator, etc... I use schaff trend to confirm the trend direction, and provide exit signals. Like I said previously, I don't like to sit on my laptop all day, I like to enjoy life to its fullest!!

My suggestion, is to use Schaff the way I use it, with another system, don't use it by itself.

Quote
Thanks for sharing. I wish anyone capable can produce a dashboard for MTF and mutiple pairs. Also clarify the exit again? Are you using the higher TF Schaff or using higher TF chart?
aelimian, I was actually searching for this indicator for the longest time, and I couldn't find it, that is why I hired someone to program it for me. I don't know of any dashboard around that has any of the MTF indicators. I'm using a higher tf schaff. So for example, I use M5 chart, but I set the tf on shaff to 60 for H1 timeframe. I've seen Schaff work quite well on the H1 timeframe.

Check out the image I uploaded, I hope this hopes to clarify entry rules. I use the 25/75 levels, to help limit the amount of false positive alerts.
Attached Image
  • #10
  • Sep 2, 2010 2:56pm Sep 2, 2010 2:56pm
eurisko, thanks for uploading!

from my check, looks like it repaints but on 2 candles only (current and previous). what kind of other indis so you use to filter out a strong trend signals?
  • #11
  • Sep 2, 2010 3:00pm Sep 2, 2010 3:00pm
thanks for the clarifications and diagram(illustrations).i will give it a shoot
  • #12
  • Sep 2, 2010 3:03pm Sep 2, 2010 3:03pm
hey sashasan,

i use volume indicator, cci, mtf osma and moving averages, and of course wave analysis.

I set the mtf osma to 60 for H1 trend confirmation, It's been working really well.
  • #13
  • Sep 2, 2010 3:21pm Sep 2, 2010 3:21pm
Quoting eurisko
hey sashasan,

i use volume indicator, cci, mtf osma and moving averages, and of course wave analysis.

I set the mtf osma to 60 for H1 trend confirmation, It's been working really well.
you mean, if osma crosses up or down of 0 line and the Schaffis is out of overbought and oversold area, it's a clear signal to enter, correct?

i looked for RSI, btw
  • #14
  • Sep 2, 2010 3:27pm Sep 2, 2010 3:27pm
so what you would suggest in this case :

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 105 KB
  • #15
  • Sep 2, 2010 6:14pm Sep 2, 2010 6:14pm
Quoting sashasan
so what you would suggest in this case :

Attachment
The line happen at Tokyo session....

Avoid Tokyo?
Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #16
  • Sep 2, 2010 6:28pm Sep 2, 2010 6:28pm
Hey everyone,

I'm asking permission to share the trading system I use, the system I use is another thread on this forum, allow me some time to talk with the individual.

I actually avoid trading during the asian session, unless there is news being released.
  • #17
  • Sep 2, 2010 9:18pm Sep 2, 2010 9:18pm
Thanks for the post on this system..And thanks for sharing it..Could you please advise what Moving Averages you are using and what they are?...Also, could you please advise us how u use them with the MFT OSMA, and cci..Thanks for sharing this with us..

Jimmy
  • #18
  • Sep 4, 2010 1:24pm Sep 4, 2010 1:24pm
So I've decided to post how I use the other strategy on the actual thread for it.

Please remember, I use another strategy to trade, and my MTF Schaff Trend w/ Alerts to tell me when to exit, I do not use MTF Schaff Trend by itself, thats a really bad idea I think.

You can view how I trade using MTF Schaff Trend with another strategy here

All credit goes to the original creator of the strategy.
  • #19
  • Sep 1, 2012 5:32am Sep 1, 2012 5:32am
hello sir i would like to know that, as you have mentioned that u use different time frame to enter and exit, why this so? can't i use one time frame say 15M or 1H. pleae do explain me that.

Thanks..
Tushar.
  • #20
  • Sep 10, 2012 10:48am Sep 10, 2012 10:48am
I no longer use the MTF Schaff Trend w/ Alerts indicator I posted previously. I currently use other indicators to enter and exit my trades, such as support and resistance and divergence, or a moving average.
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