The Stripped T3 Levels Metatrader 5 forex indicator is a Tim Tillson indicator that he created to generalize DEMA within the T3 calculation.
Well, the indicator is a 3-in-1 technical indicator that uses self-adjusting levels in a manner that allows it to identify trends with better precision.
The crosses of the Stripped T3 Levels indicator slope can be used to validate trend direction, in a way that allows the indicator filters out the less significant slope changes that could result in false trading signals.
Using the color changes of the Stripped T3 Levels indicator values is also a significant way the indicator can be put to use when spotting signals.
The USD/CHF H4 chart below displays the Stripped T3 Levels Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the multi colored line of the Stripped T3 Levels Metatrader 5 forex indicator turns medium sea green, while staying above the dotted lines.
Sell Signal: Go short when the multi colored line of the Stripped T3 Levels Metatrader 5 forex indicator turns orange red, while staying below the dotted lines.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the multi colored line of the Stripped T3 Levels indicator turns silver.
Exit sell trade: Close all sell orders if while a bearish trend is running, the multi colored line of the Stripped T3 Levels indicator turns silver.
Tips: The Stripped T3 Levels MT5 indicator offers a very interesting picture of how things pan out with a specified currency pair, and currency traders can take a cue at the changing colors of its slope to extrapolate future market directions.
Try it for scalping, day trading and swing trading.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (T3 period, T3 volume factor, Price, T3 type, Level to display), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Stripped T3 levels.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)