Enhanced Schaff Trend Cycle Indicator
This is an "Enhanced Schaff Trend Cycle Indicator" variant that I heavily modified. Yes, almost 3 decades old and it's now even better. I thought this had decent characteristics to it, and maybe members out there may find a good use for it. Surely let me know if you do appreciate it in the comments below with any suggestions, settings modifications, whatever... Modifications included are rescaling the range from 0 /100 to -100/100 yielding a zero mean indicator with perfect balance on the vertical axis. 30/70, 20/80, and 15/85. Who wants to remember all those settings? This one is set to -80/80, nothing significant about those about those numbers at all, be forewarned! It seems reactive and takes mostly full swings from -100 to 100 without exceeding those numbers. The indicator itself has a multitude of adjustments you may fiddle with, as many as I can pack into it. I also included a centered medial zone that you may adjust for an additional set of thresholds. If I was to receive a 100 comments requesting to add multiple time frames, I would most likely consider that, given I have some spare time available in the future to get around to it, probably converting it into a DUAL multi time frame indicator. Like it if you like it, enjoy!
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Source input in the Format panel was an inoperable oversight, added an option to enable/disable the red/green outer limits of the range, and simple subtle refactoring of the code.
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Altered the color scheme slightly, a few tweaks here and there.
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I went ahead and added multiple time frames, just out of curiosity.
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So, there's been some changes to TV color recently and I needed to apply some revisioning to accommodate those changes. Furthermore I updated to a slightly newer color style for the levels/thresholds that I now prefer, with the intention of functionality on both Light and Dark charts equally. Surely let me know if it does not meet your expectations. Adjustments have been added to the upper/lower thresholds for those who may wish to specify custom levels. Additionally, I added plot from "barindex==0" technology for all you IPO(Initial Public Offering) traders, a possible historical first. This will allow suitable plotting from day one, minute one of IPO, remedying visually delayed signal trading. If you don't know what this is, most people don't, go back to the VERY beginning of any stock on the "All" chart and compare it to other Schaff Trend Cycle(STC) Indicators. You will most likely not see any reliable STC plot for the first 50 bars, give or take, on other STC indicators. I would consider this a major revisioning, and I hope everyone enjoys the new version.