is the responsive form of traditional moving averages. Presented in 1998 by Tim Tillson, T3 is also known as the Tillson Moving Averages. The thought behind the development of this technical indicator was to improve lag and false signals, which can be present in moving averages.
The T3 indicator performs better than the ordinary moving averages. The reason for this is is built with the ( ).
Its calculation is based on the sum of single , , , and so on.
This gives the following equation:
T3 = c1*e6 + c2*e5 + c3*e4 + c4*e3…
e3 = (e2, Period)
e4 = (e3, Period)
e5 = (e4, Period)
e6 = (e5, Period)
a is the factor, with a default value of 0.7 but you can also use 0.618
c1 = a^3
c2 = 3*a^2 + 3*a^3
c3 =6*a^2 – 3*a – 3*a^3
c4 = 1 + 3*a + a^3 + 3*a^2
When a trend appears, the price action stays above or below the and doesn’t get disturbed from the price swing. The moving of the T3 and the lack of reversals can indicate the end of the trend. The produces signals just like moving averages, and similar trading conditions can be applied. If the price is above the and the indicator moves upward, this is a sign of a . Here we may look to enter long. Conversely, if the price action is below the and the indicator moves downwards, a appears. Here we may want to look for a short entry.
Price --> Price Input.
T3 --> T3 Ouput.
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
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