OPEN-SOURCE SCRIPT
Schaff Trend Cycle 1.1 with signal coding
This is an edit of Lazy Bear's Schaff Trend Cycle original description here. I've added in the syntax so that you can generate an alert when it crosses the threshold in either direction. Just tick the box to show threshold crosses.
https://www.tradingview.com/script/dbxXeuw2-Indicator-Schaff-Trend-Cycle-STC/
More background on the indicator is here.
https://www.investopedia.com/articles/forex/10/schaff-trend-cycle-indicator.asp
Other common settings are fast 23 slow 53 or 10/30, 3/10. I have also set it to 9/20 for test purposes. They have different pluses and minuses on different timeframes.
https://www.tradingview.com/script/dbxXeuw2-Indicator-Schaff-Trend-Cycle-STC/
More background on the indicator is here.
https://www.investopedia.com/articles/forex/10/schaff-trend-cycle-indicator.asp
Other common settings are fast 23 slow 53 or 10/30, 3/10. I have also set it to 9/20 for test purposes. They have different pluses and minuses on different timeframes.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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