Every trader tries to determine when an extreme is attained for some average or filter.
The Sigmoidal normalized T3 forex indicator for MT5 is one possible way of doing that.
The T3 within the indicator is sigmoidal normalized – designed as an oscillator that ranges in the range of 0 to 1, and if the hyperbolic normalization is in use the range may vary between -1 to +1.
The indicator is seen as a filled line within a separate indicator window.
It has two important variables that traders should get accustomed to: one is the “T3 type” that can either be Tim Tillson way of calculation or Fulks/Matulich way of calculation, while the second is the “Hyperbolic normalization” that can either have a value of true or false.
The indicator is able to spot buy and sell market signals when the Sigmoidal normalized T3 indicator for Metatrader 5 turns lime green and maroon respectively.
Even so, strong bullish signal is recognized when the line is above the zero level, while a strong bearish signal is said to be in the making if the line is below the zero level.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (T3 period, T3 “hot”, T3 type, Price, Normalization length, Hyperbolic normalization), Colors, width, Style & Scale.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Sigmoidal normalized T3.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)