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Published:

2018.09.27 16:05

T3.mq5 (12.85 KB) view

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The T3 Moving Average indicator was presented by Tim Tillson in "S&C Magazine" in January, 1998.
It is a triple smoothed combination of DEMA (Double Exponential Moving Average)

Advantages of T3:
Lower lagging, the line is much smoother, provides early entry signals, generates less false signals.

The indicator has three input parameters:

Volume factor (in percent) - DEMA influence coefficient (*)
Period - calculation period
Applied price

Calculation:

T3 = (1+Volume factor) * EMA4 - Volume factor * EMA5

where:

EMA5 - EMA(EMA4, Period)
EMA4 - EMA(GD2, Period)
GD2  = (1+Volume factor) * EMA2 - Volume factor * EMA3
EMA3 - EMA(EMA2, Period)
EMA2 - EMA(GD, Period)
GD   = (1+Volume factor) * EMA0 - Volume factor * EMA1
EMA1 - EMA(EMA0, Period)
EMA0 - EMA(Applied price, Period)

* "Volume factor" (default is 70%) determines the share of DEMA to use.
The factor ranges from 0, which makes it a simple EMA, to 100, which gives a full DEMA.

0% - T3 - is only a triple EMA ( EMA(EMA(EMA)) )
100% - T3 is a triple DEMA ( DEMA(DEMA(DEMA)) )

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21842

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