Schaff Trend Cycle for MT4 is an oscillator type technical indicator that oscillates between -10 and +110 readings.
For the Schaff Trend Cycle, a reading at or above +100 is overbought and a reading at or below 0 oversold.
The indicator works on all currency pairs for all time frames.
Trading Signals
BUY: In uptrends: Go long if the indicator crosses back above +20 reading from below.
SELL: In downtrends: Go short if the indicator crosses back below +80 reading from above.
Use in conjunction with trend analysis tools to determine the primary trend.
Don’t use Schaff Trend Cycle against the trend.
Download
Download the Schaff Trend Cycle.mq4 indicator.
EUR/USD 4 Hour Chart Example
How to install the Schaff Trend Cycle custom indicator in Metatrader 4?
- Download the Schaff Trend Cycle.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.