1000X Dual T3 Set to Any Time Frame
1000X Dual T3 Set to Any Time Frame
The "1000X Dual T3 Set to Any Time Frame" is an enhancement of the well-known T3 indicator, building upon the T3 Average script by HPotter, which was itself based on Tim Wilson's work on smoothing techniques. This version provides two T3 lines, which is useful when adapting one each to the long and short trends on the same chart, with the added flexibility of setting the indicator to a higher time frame than the one you are currently trading. We also make the "b" value adjustable, creating a more sensitivity, adaptable indicator. This indicator is recommended as a trend filter or confirmation indicator in trading strategies.
Key Features
Dual Trend Analysis: The dual T3 offers a view of long and short trends to aid in better optimized market analysis. This avoids the problem with using a single T3 line to filter tradable price action for both long and short sides, which forces one to compromise performance in order to achieve profitability in both directions.
Timeframe Customization: This indicator can be set to a desired timeframe while trading another. For example, the T3 can be set as a trend filter on the daily or weekly time frame to separate bull and bear markets, even as you work with other indicators on a chart set to a lower time frame. Set the time frame in the inputs, using minutes (15, 60, 240, etc.) or using D, W, and M.
Preserved T3 Script: Like the powerful HPotter script on which it builds, this indicator leverages EMA-based T3 smoothing calculations for smooth and responsive trend lines.
B Value adjustability: Given the role of the b value in smoothing and sensitivity, I have found it beneficial to make the b value an adjustable input as well. A higher b value will make the T3 line more responsive to recent price changes, making it closer to the actual price movements but potentially more susceptible to market noise.
Visual Trend Indicators: In addition to filtering markets using the "above or below" approach, this script provides colour coding to delineate trend directions.
Acknowledgments
As stated, this work is a tribute to the foundational contributions of Tim Wilson and the subsequent development by HPotter whose script was the basis of this one. The enhancements in this version aim to provide added value to the trading community.
The "1000X Dual T3 Set to Any Time Frame" is an enhancement of the well-known T3 indicator, building upon the T3 Average script by HPotter, which was itself based on Tim Wilson's work on smoothing techniques. This version provides two T3 lines, which is useful when adapting one each to the long and short trends on the same chart, with the added flexibility of setting the indicator to a higher time frame than the one you are currently trading. We also make the "b" value adjustable, creating a more sensitivity, adaptable indicator. This indicator is recommended as a trend filter or confirmation indicator in trading strategies.
Key Features
Dual Trend Analysis: The dual T3 offers a view of long and short trends to aid in better optimized market analysis. This avoids the problem with using a single T3 line to filter tradable price action for both long and short sides, which forces one to compromise performance in order to achieve profitability in both directions.
Timeframe Customization: This indicator can be set to a desired timeframe while trading another. For example, the T3 can be set as a trend filter on the daily or weekly time frame to separate bull and bear markets, even as you work with other indicators on a chart set to a lower time frame. Set the time frame in the inputs, using minutes (15, 60, 240, etc.) or using D, W, and M.
Preserved T3 Script: Like the powerful HPotter script on which it builds, this indicator leverages EMA-based T3 smoothing calculations for smooth and responsive trend lines.
B Value adjustability: Given the role of the b value in smoothing and sensitivity, I have found it beneficial to make the b value an adjustable input as well. A higher b value will make the T3 line more responsive to recent price changes, making it closer to the actual price movements but potentially more susceptible to market noise.
Visual Trend Indicators: In addition to filtering markets using the "above or below" approach, this script provides colour coding to delineate trend directions.
Acknowledgments
As stated, this work is a tribute to the foundational contributions of Tim Wilson and the subsequent development by HPotter whose script was the basis of this one. The enhancements in this version aim to provide added value to the trading community.