The T3 Price Overlay Metatrader 5 forex indicator is a technical indicator that shows two T3 moving averages calculated by High and Low prices, along with colored candles that extends beyond the moving average lines.
Price is said to be bullish when the candle close is situated above the upper T3 MA line, while getting a forest green color at the same time.
Bearish candles that are aligned above the upper T3 MA line are colored medium aquamarine.
Furthermore, price is said to be bearish when the candle close is located below the lower T3 MA line, while price bars gets filled red at the same time.
Bullish candles that are found below the lower T3 MA line are colored burly wood.
The EUR/USD H1 chart below displays the T3 Price Overlay Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the candles trade above the upper T3 MA line of the T3 Price Overlay Metatrader 5 forex indicator (candles are colored forex green and medium aquamarine under such condition).
Sell Signal: Go short when the candles trade below the lower T3 MA line of the T3 Price Overlay Metatrader 5 forex indicator (the colors of the candles under this condition are red and burly wood).
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price close below the lower T3 MA line of the T3 Price Overlay indicator.
Exit sell trade: Close all sell orders if while a bearish trend is running, price close above the upper T3 MA line of the T3 Price Overlay indicator.
Tips: Trading the T3 Price Overlay indicator can exponentially increase your market profits, but at the same time, it remains compatible with trending markets.
Works for any trade style including scalping and day trading.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (T3 period, T3 volume factor), 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 T3_Price_Overlay.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)