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Schaff Trend Cycle Indicator for Metastock
kaiji
over 14 years ago
Metastock

Rating:
3 / 5 (Votes 2)
Tags:
metastock, trend

The Schaff Trend Cycle Indicator is the result of combining Slow Stochastics and the Moving Average Convergence/Divergence. The MACD is a trend indicator, yet it has lag due to its slow responsive signal line. The improved signal line gives the Schaff Trend Cycle, which acts as an early warning sign to detect trends.

MetaStock → Tools → Indicator Builder → New
Copy and paste indicator formula below.

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Indicator / Formula

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{ Schaff Trend Cycle Indicator v1.0 }
{ Automatic trigger levels }
{ Also see: "MACD oscillator - Schaff Trend Cycle" }
{ http://www.metastocktools.com }
{ With thanks to Tim Straiton, www.stoploss.ch }
 
{ variables input }
buffer:=Input("Long/Short buffer zone %",
 0,100,0)/100;
pdsCy:=Input("Schaff cycle periods",2,252,10);
pdsSh:=Input("Short periods",1,252,10);
pdsLg:=Input("Long periods",2,2520,21);
 
{ Schaff Trend Cycle }
MCD:=Wilders(MP(),pdsSh)-Wilders(MP(),pdsLg);
ST:=(MCD-LLV(MCD,pdsCy))
 /(HHV(MCD,pdsCy)-LLV(MCD,pdsCy))*100;
STC:=Wilders(ST,pdsCy/2);
 
{ Schaff Trend Cycle }
MCD:=Wilders(MP(),pdsSh)-Wilders(MP(),pdsLg);
ST:=(MCD-LLV(MCD,pdsCy))
 /(HHV(MCD,pdsCy)-LLV(MCD,pdsCy))*100;
STC:=Wilders(ST,pdsCy/2);
 
{ automatic trigger levels }
pk:=Ref(STC,-1)>STC AND Ref(STC,-1)>Ref(STC,-2);
pkVal:=If(pk,Ref(STC,-1),0);
pkAvg:=Cum(pkVal)/(Cum(pk)+.000001);
pkAvg:=If(pkAvg=0,100,pkAvg);
tr:=Ref(STC,-1)<STC AND Ref(STC,-1)<Ref(STC,-2);
trVal:=If(tr,Ref(STC,-1),0);
trAvg:=Cum(trVal)/(Cum(tr)+.000001);
 
{ STC crossover signals }
In:=Cross(pkAvg,STC);
Out:=Cross(STC,trAvg);
InInit:=Cum(In)=1;
Init:=Cum(In+Out>-1)=1;
flag:=BarsSince(Init OR In)
 < BarsSince(Init OR Out)+InInit;
signals:=(InInit AND Alert(InInit=0,2)
  OR flag AND Alert(flag=0,2))
   -(flag=0 AND Alert(flag,2));
 
{ trend support/resistance levels }
STCI:=If(flag,ValueWhen(1,signals,L*(1-buffer)),
 ValueWhen(1,signals=-1 OR Init,H*(1+buffer)));
 
{ alternative STC crossover signals method}
{bb:=BarsSince(Cross(STC,trAvg));
 bs:=BarsSince(Cross(pkAvg,STC));
 tb:=ValueWhen(1,Cross(STC,trAvg),H*(1+buffer));
 ts:=ValueWhen(1,Cross(pkAvg,STC),L*(1-buffer));
 STCI:=If(bb<bs,tb,ts);}
 
{ plot on price chart }
STCI

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