Here's an indicator I developed a while ago, it's been pretty useful. Sticks with a trend but not at the cost of introducing significant lag. I've done quite a bit of testing and it works well using the multiple timeframe approach.
Based on Schaff Trend Cycle, it substitutes Trix for the MACD that Schaff uses. I've combined exponential and simple moving averages in Trix and it seems better than exponential alone.The Trix is put through a double stochastic.
Attached figure shows Trix TC in action. Enjoy!
How do i know when to buy and when to sell? What does this actually tell me.
See the attached file. Which currency is best when using this indicator?
Thanks for sharing.
Buy and sell on the change of slope ie. when it ticks up from zero for buy and down from 100 for sell or on change of direction inside these. I'll attempt to colour the indicator, while brilliant in TS EasyLanguage I struggle in MQL....
My broker doesn't offer the NOKUSD pair but the two attached show a similar chart. You'll see that adjusting the length from 4 to 6 provides better trades. The shorter the timeframe the longer the length.
You can see the strength of Trix TC at the left hand side and towards the right of the second chart. It'll keep you in a trend longer than most indicators. as always the trick is to reduce whipsaws.
I'm a newbie and I find this is a great indicator. I would like to make a simple EA utilizing it but I am finding it hard to get it to work. Which buffer would I use to get the value of the line?
I was trying:
trixcurrent = iCustom(Symbol(),0, "Trix Trend Cycle indicator", 0, 0, 0);
trixprevious = iCustom(Symbol(),0, "Trix Trend Cycle indicator", 0, 0, 1);
if(trixcurrent > trixprevious)--- exit the sell then buy
if (trixcurrent < trixprevious)--- exit the buy and then sell
any help would be appreciated
stcbuffer holds the value of Trix TC. I'll have a look at coding an EA. This was my first and only effort in MQL, I use Tradestation mainly and just wanted to see if I could recode at least one of my own indicators for MT4.
If you're interested, use of the indicator is very much as Schaff Trend Cycle as described here: www.fxstreet.com/education/trading-strategies/releasing-the-code-to-the-schaff-trend-cycle/
In my testing Trix TC is superior to STC.It works particularly well using a trigger as described by Schaff. Any 4h chart involving JPY shows very steady income over the last 3 years. I'll post again soon.Knoxy
I was very impressed with your trix trend cycle indicator. Have you ever thought about having it Laguerred like the Laguerre RSI. Maybe that could help reduce the lag.