I think that these documents were posted already (at least the "Schaff code", I am not sure about the "Catching the currency moves" document), but re-posting them here. Those are originals document from Doug Schaff in which he explains more about the indicator itself (after all, who could do better explanation than the inventor him self ).
Thanks Mladen, btw could you do me a favour? since I'm not a coder could you give up sometime to build a SCT indicator so I can see it more visually.
Google "Schaff mq4"
Thank you very much Mladen.
Like always, you overcame what's expected!
Here you go
Added some things (parameters to control colors as an input, unified the labels with arrows (identifier) in order to allow multiple indicators on a same chart without overwriting each others labels, and made it a separate procedure, so it can easily be located and changed)
If you are looking for a Schaff trend cycle that works exactly as Doug Schaff explained, the first time it was posted for metatrader at this post here : https://www.mql5.com/en/forum/176577
There are a couple of variations of those in elite section indicators. The easiest way to find them is to clik on the clip in the upper right corner when you are in Elite section thread and then you will get a list of attachments from which you can download directly
Hi every one Hi Mr Mladen,
is this this thing repainting / recalculating or is it me ?
Hodrick / Prescott filter is recalculating, so it is not you :):)
It is it's nature (some more info here : Hodrick-Prescott filter - Wikipedia, the free encyclopedia )
Good explanations from the link.
Thx Mr Mladen.
The donchian channel that u created is alerting when the upper or lower channel is broken for the first time. Now say.., the price comes down and does not break the lower channel, but instead goes up again and breaks the upper channel.., it does not alert.., can you please look into it and make it to alert when there is a break of either of the bands.., i know it is irritating sometimes.., but i would like to have that option also.
Now, when it retraces (so goes "into the channel") the trend direction is reset and if there is a break again it will alert. It will not alert on a second (and consecutive bars) break.
For example : it breaks the upper band and stays over upper band for 5 bars - only 1 alert for now on the first break, the 4 bars that are over the upper band are not alerted. Price retraces into the channel (goes under the upper band) but it does not break the lower band. Price breaks the upper band again and you get alerted again, and if the price stays over the band it does not alert again till the price retraces or brakes the lower band. The same goes for lower band breaks (with inverted logic, of course)
I hope that I did not complicate the explanation too much. Try it out
thanks a lot for this.., what line of code sud be changed to make it alert on every break.., just to learn the nuances of coding and is it possible to bind the donchian in a separate window to a value say 0 like an MACD?