Indeed, it's a post-analysis or sort of at a glance orientation while trading but doesn't yield trading directions as it's only a representation of the cycle phase. For trading maybe one can gather better indications/results by using the HilbertSineWave or the Schaff Trend Cycle.
As a note: Schaff Trend Cycle is an amazing oscillator to learn and add to your portfolio of useful indicators. The only thing to remember is that STC, like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Therefore, it will return false signals from time to time.
STC is a leading indicator, which means that it sends a signal before the price move has occurred. It also means that it lacks the accuracy of lagging indicators and should be used in conjunction with other technical analysis tools.
Here are some examples of trading using the Schaff Trend Cycle and the Stochastic Indicator as conformation.
[The examples were taken from this website https://www.mql5.com/en/code/7356]
