T3 stripped - indicator for MetaTrader 5

T3 stripped – indicator MetaTrader 5

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Theory :

Although T3 is widely used, some of the details how it is calculated are less know. T3 has, internally, 6 “levels” or “steps” that it is using for calculation of the T3.

This version :

Instead of showing the final T3 value it is showing those intermediate steps. They are nicely showing the “building steps” of a T3 and can be used for trend assessment as well as for possible support / resistance value

PS:

Do now forget that the steps displayed are not T3. T3 is different from any of the levels displayed

PPS: some “big picture” examples


T3 stripped – indicator MetaTrader 5
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Alternative:   Self Advance Decline line - with floating levels - indicator MetaTrader 5

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