The Schaff Trend Cycle (STC) indicator for Metatrader 5 was originally developed by Doug Schaff and provides trading signals to currency traders.
It’s a type of technical oscillator that identifies currency trends using cyclical trading patterns.
The STC indicator can be used in two ways:
- As a standalone buy/sell tool in sideways moving markets.
- Use in agreement with a trend indicator in trending environments.
How to interpret the STC indicator?
- The green colored STC line indicates the start of a bullish trend.
- The orange colored STC line indicates the start of a bearish trend.
The following indicator inputs and parameters can be modified: Schaff period, fast EMA period, slow EMA period, smoothing period, price.
The Schaff Trend Cycle indicator should work equally well for any MT5 trading instrument, such as Forex, Stocks, Indices, Gold, etc.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Schaff Trend Cycle indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Schaff Trend Cycle indicator?
Find a simple trading example below:
- A buy signal is formed when the green colored Schaff Trend Cycle indicator line gets displayed on the chart.
- Initiate a buy order and place a stop below support.
- Exit the buy trade for a fixed take profit of your preference or wait for a sell signal.
- A sell signal is formed when the orange colored Schaff Trend Cycle indicator line gets displayed on the chart.
- Initiate a sell order and place a stop above resistance.
- Exit the sell trade for a fixed take profit of your preference or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Schaff Trend Cycle.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration