Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal


Stripped T3 levels - indicator for MetaTrader 5

Mladen Rakic

votes: 7
2018.10.26 14:47
2018.10.26 15:12

Theory :

Tim Tillson (that invented T3 indicator) used generalized DEMA in the T3 calculation. It is less known that there are 3 "levels" of that T3 calculation : GDEMA (as the first "level"), GDEMA of GDEMA (as the second "level") and GDEMA of GDEMA of GDEMA (which is the T3)

This indicator :

In it you can chose which "level" of the 3 you wish to be displayed. It is a sort of 3-in-1 indicator (since it is displaying the above described "levels"). It is also using self adjusting levels in order to identify trends. Instead of using slope of the calculated value, crosses of levels are used as trend direction, and that way they are filtering out the less significant slope changes that could lead to false signals.

Usage :

You can use the color changes of the values as signals

PS: the "big picture" example where all 3 "levels" are displayed (just the type is different, the rest of the parameters is the same)

Volatility quality - zero line Volatility quality - zero line

Volatility quality - zero line and ATR based

Volatility quality Volatility quality

Volatility quality with ATR filter

MinMax indicator MinMax indicator

MinMax indicator

Adaptive ATR channel Adaptive ATR channel

Adaptive ATR channel