OPEN-SOURCE SCRIPT
STC Indicator - A Better MACD [SHK]
Updated
The Schaff Trend Cycle indicator is the product of combining Slow Stochastics and the moving average convergence/divergence (MACD). The MACD has a reputation as a trend indicator, but it's also notorious for lagging due to its slow responsive signal line. The improved signal line gives the STC its relevance as an early warning sign to detect currency trends.
Read more on Investopedia:
Schaff Trend: A Faster And More Accurate Indicator
Read more on Investopedia:
Schaff Trend: A Faster And More Accurate Indicator
Release Notes
- Updated to V4 Pinescript.
Release Notes
- Alarm option is added. (Select "Any Alert()" in the alarm tab)- Script upgraded to pine V5
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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