Schaff Trend Cycle With TEMA Metatrader 5 Forex Indicator

Combining the Slow Stochastics and the Moving Average Convergence/Divergence (MACD) yields the Schaff Trend Cycle (STC) indicator.

On the other hand, the Moving Average Convergence/Divergence (MACD) indicator is renowned for its trend gauging abilities, but it’s also infamous for lagging as a result of its slow responsive signal line.

The Schaff Trend Cycle with TEMA Metatrader 5 forex indicator uses the Triple Exponential Moving Average (TEMA) MACD to enhance its signal line.

It gives the indicator weight as an early warning system that can spot trends in the forex markets.

Buy and sell signals are produced a few bars earlier when using the Schaff Trend Cycle with TEMA indicator, in contrast to the original Schaff Trend Cycle due to the addition of the TEMA MACD.

Free Download

Download the “Schaff trend cycle – tema.ex5” MT5 indicator

Example Chart

The EUR/USD H1 chart below displays the Schaff Trend Cycle with TEMA Metatrader 5 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the dual colored line of the Schaff Trend Cycle with TEMA Metatrader 5 forex indicator turns lime green.

Sell Signal: Go short when the dual colored line of the Schaff Trend Cycle with TEMA Metatrader 5 forex indicator turns orange.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dual colored line of the Schaff Trend Cycle with TEMA indicator turns orange.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the dual colored line of the Schaff Trend Cycle with TEMA indicator turns lime green.

Tips: The MT5 indicator is clearly a trend finder and will combine nicely with a volatility indicator like the Bollinger Bands.

This is obviously a good fit for both swing and intraday traders.

Download

Download the “Schaff trend cycle – tema.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart window indicator

Customization options: Variable (Schaff period, Fast tema period, Slow tema period, Smoothing period, Price), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: oscillator | trend

Installation

Copy and paste the Schaff trend cycle – tema.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

Share Now!