Are there any indicators/tools/methods for determining cycles?
I am interested in finding daily cycles and also finding cycles on shorter time frames as well.
As a side note:Does anyone know of certain times of the day when price is likely to reverse its direction?
Just my 1 Cent -
As far as I know the price reversals usually happen at the Start or the first 2-3 hours of start of the London trading time - which for the US is between 3 and 5 AM.
The most consistant time for reversals is when the European Market closes down a few hours after the US Market opens. Look thru your charts and the evidence will be in front of you.
Thank you for the information!
I am interested also in possible cycle indicators/methods...I know that these will not always be correct but I believe I can trade these with confirmation signals.
Anybody know of any indicators to determine cycles?
What about the Schaff Trend Cycle?
Does the Schaff Trend Cycle or the Schaff Digital Cycle count?
I'm not familiar with those, how would they be used and could they be used on multiple time frames?
Schaff Trend Cycle
Schaff Trend Cycle - was developed to improve upon the speed and accuracy of the MACD in identifying trends. It is calculated by running a MACD line (the difference between two exponential moving averages) through a reworked stochastic algorithm. It is used to find cycles within a trend.
The peaks and troughs within these "trend cycles" can help identify trends, and pinpoint some trading opportunities - buying within uptrends and selling within downtrends. This indicator is also useful as the overbought/oversold indicator in sideways markets. This indicator cycles or "oscillates" within a fixed scale of 0 to 100.
Dotted lines are drawn horizontally at 25 and 75, and are called the 25-line and 75-line or "buy" and "sell" lines, respectively.
I think the digital version can be found somewhere on forex-tsd by searching for it. But for now, here is a recent contribution of the Schaff in Multi Time Frame.
Thank you very much!!
I will test this out later this evening!
I applied the indicator and it only draws a flat line at zero no matter what time frame I set it for.
You need the Schaff Trend Cycle indicator for the MTF version to work.
It can be found at this link https://www.mql5.com/en/forum