Schaff Trend Cycle Adjustable Smoothing Indicator
Platform: MT5 Type: Oscillator Last update: November 30, 2024The Schaff Trend Cycle Adjustable Smoothing Indicator for MT5 is a classic gauge that comes in handy for determining direction of the trend by displaying a simple color-changing curve. Upon activation, you can see it placed within seperate window below the chart.
When the price goes up, it corresponds to the green line. Similarly, when the price falls, you should see the orange line. Behind the scenes, it calculates the price deviation based on a smooth algorithm – and it’s meant to filter out market noise.
Example chart:
Usage recommendation
Essentially, you can use it for finding overbought and oversold conditions.
What’s more, you should rather consider it as a supplement or filter to your trading strategy, instead a standalone tool.
Long opportunities usually take place when the curve in positioned in the lower part, but the slope points upwards and turns green. For potential short trades, the setup is reversed, meaning curve should be aligned in the upper part, pointing downwards with orange color.
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