Matt Sparrow and Shaun Harrad have arrived on loan until the end of the season from Scunthorpe United and Notts County respectively.
Midfielder Sparrow, 33, has spent most of his career in two spells with the Iron, also turning out for Brighton and Crawley Town.
Striker Harrad, 30, needs no introduction to Cheltenham fans, having spent the 2012/13 campaign on loan with the Robins from Bury, helping Mark Yates' side reach the play-off semi-finals. He netted 10 times, including five in his first eight appearances.
"Matt is a very good player, who will talk to the younger boys," Milton said. "I know Shaun very well and his goalscoring record speaks for itself, so he'll be a massive asset.
"Both players have been given glowing references from everyone I have spoken to, but I know a lot about them myself and they are just what we need.
"We are close with a third, who can play at centre-half or in a holding midfield role and all three will give their best for this club and they are the sort of characters we need, so hopefully they can go on to become heroes for Cheltenham Town."
Sparrow and Harrard will go straight into the squad to face Tranmere (3pm kick-off) on what is 'Red and White Day', with fans asked to show their support by wearing red and white colours.
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