The T3 Velocity V.2.0 Metatrader 5 forex indicator is an entirely new technical study that deploys the T3 in calculating velocity.
On the other hand, it does not deploy the T3 when smoothening velocity.
In as much as velocity is a considerably smoother momentum, using the T3 makes it even smoother.
The T3 Velocity V.2.0 Metatrader 5 forex indicator includes the original Tim Tillson calculation alongside the enhanced Fulks/Mutulich calculation.
For easier momentum identification the fx indicator uses the 20 period on the colors normalization and color steps for drawing.
The EUR/USD H1 chart below displays the T3 Velocity V.2.0 Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the histograms of the T3 Velocity V.2.0 Metatrader 5 forex indicator turn deep sky blue and the histograms get aligned above the zero level.
Sell Signal: Go short when the histograms of the T3 Velocity V.2.0 Metatrader 5 forex indicator turn sandy brown, with the histograms getting aligned below the zero level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the indicator turns sandy brown as it breaks below the zero level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line of the indicator turns deep sky blue as it breaks above the zero level.
Tips: The T3 Velocity V.2.0 Metatrader 5 forex indicator is an effective technical tool that offers intraday traders and scalpers a sure way to bet on the currency market with reduced risk.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (T3 velocity calculation period, T3 hot value, T3 original Tillson calculation? Price to use, Colors normalization period, Color down, Color up), Colors, 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_velocity_2.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)