Dough Schaff, was developed to improve upon the speed and accuracy of the MACD indicator when it comes to identifying trends. What we get is a faster cycle identifier – an great aid in identifying trend changes and finding faster entries and exits. Let’chaikin trend indicator forex compare charts with Schaff Trend Cycle Indicator and MACD.
The 25 level is called a Buy level, the 75 – a Sell level. While indicator stays below the 25 – the downtrend is in progress. Buy order above the corresponding candle on a chart. Wait for the Buy order to be filled. If the order is not filled, and the price continues lower – not a problem. Keep the pending order further while observing Schaff Trend Cycle behavior and new signals. Opposite true for Sell entries, where the indicator has to cross the 75 level down to send a signal about a trend change setup.
The MACD is showing 2 different colors for histogram. This is an excellent website to find tons of indicators. BTW, do you have FXS-Trailing Stop indicator by Dough Schaff to download? I’ve tried to find it everywhere with no avail. Yes, this site is really excellent when it comes to indicators: their explanation and download, but I’ve also been searching the FXS-Trailing Stop indicator by Dough Schaff, but I couldn’t find it. Anybody knows where to download or to buy it? Up moves, Down moves and Sideways price moves.
Trend indicators help defining the prevailing direction – trend – of the price moves by smoothing price data over a certain period of time. In simple words, Trend indicators allow to visualize Trends in the market. May I please ask about trend lines. Are they also belong to trend indicators. If yes, why you don’t mention it here. Trend lines are not exactly indicators, but rather technical tools. Trend lines are graphical analytical tools, applied by traders without any mathematical formula behind them.
However, you’ll be right naming trend lines as indicators if we start speaking about automated trading systems, where even trend lines are drawn by a software. Here we’ve covered Forex trend lines. I will be very happy if you can help me with it. I don’t have any particular e-books on these subjects, unfortunately. I think browsing through the maze of Forex websites can bring some results. I’d like to know if there is an indicator out, so that it may count bars from a low or high point and project out from that low or high eg. 30 60 90 bars and so on.