The Schaff Trend Cycle Adjustable Smoothing Indicator for MT5 is a classic trading tool that helps you analyze and determine the direction of the market trend using a simple color-changing curve displayed in the separate window placed below your main trading chart.
When the price goes upward, you are supposed to see a green color single curve. On the contrary, when the price starts to go downward you are supposed to see an orange color signal curve.
This indicator works like a charm since it calculates the price deviation based on a smooth algorithm which eventually filters out the noise in the currency market. Since it always filters out the noise, you can find the overbought and oversold levels of the trading instrument even in the lower time frames.
Before the use this tool in real trading conditions with real money, make sure to learn and gain experience with it by using the demo trading account.
How to trade with the Schaff Trend Cycle Adjustable Smoothing indicator?
We recommend to use Schaff Trend Cycle Adjustable Smoothing indicator as a filter to supply your best-proven trading system, rather than use it as a standalone trading tool.
Look for buy trading opportunities when the curve is in the lower part of its window, points upwards and is green color.
Look for sell trading opportunities when the curve is in the higher part of its window, points upwards and is orange color.
How to install the Schaff Trend Cycle Adjustable Smoothing Indicator on your Metatrader 5 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Schaff Trend Cycle Adjustable Smoothing Indicator files into following folder of your Metatrader 5 (MT4) platform: MQL5 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL5 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on schaff-trend-cycle-adjustable-smoothing.mq5 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
In the archives you will find following Metatrader 5 files included:
Schaff Trend Cycle Adjustable Smoothing Indicator Free Download
To download the Schaff Trend Cycle Adjustable Smoothing Indicator for Metatrader 5 (MT5) for free just click the button below: