T3MA_001
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This tool is designed to provide a smoother, more responsive visual trend line on your trading chart compared to standard moving averages. While many indicators can be either too "laggy" (slow to react to price changes) or too "noisy" (moving erratically with every small price tick), this specific logic aims to find a middle ground.
How the Logic Works
The script operates through a multi-layered calculation process. Instead of simply taking the average price of the last few candles, it performs a series of nested calculations:
- Sequential Smoothing: The tool takes the raw price data and calculates an Exponential Moving Average (EMA). It then takes that result and calculates another EMA from it, repeating this process multiple times. This "averaging of averages" helps strip away market noise and identifies the underlying momentum.
- The T3 Calculation: Once these smoothed layers are created, the script applies a specific mathematical formula (the T3 logic). It combines several of those previous smoothings using unique weights derived from a "Volume Factor."
- Balanced Reaction: By combining these layers with specific coefficients, the indicator is designed to stay closer to the actual price action than a standard moving average would, while still maintaining the clean, flowing curve that comes from multi-layered smoothing.
Key Components for Users
- Periods: This determines the look-back window. A higher number will make the line smoother and slower, while a lower number will make it react more quickly to recent price movements.
- Volume Factor: This is a tuning variable. It adjusts the mathematical weights of the calculation. By changing this value, you can shift the balance between how "tightly" the indicator follows the price versus how "smooth" the line appears.
In short, this script acts as a sophisticated filter that clarifies the market's direction by smoothing out minor fluctuations without losing sight of significant trend shifts.
Indicators Used
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T3MA_001
//+------------------------------------------------------------------+
//| T3MA.mq4 |
//| Copyright © 2005, Nick Bilak |
//| http://www.forex-tsd.com/ |
//| modified for VolumeFactor by: ben |
//| thanks to Bilak |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Nick Bilak"
#property link "http://www.forex-tsd.com/"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Aqua
//---- indicator parameters
extern int Periods = 10; //12
extern double VolumeFactor = 0.7; //0.8
//---- indicator buffers
double e1[];
double e2[];
double e3[];
double e4[];
double e5[];
double e6[];
double e7[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(7);
//---- drawing settings
SetIndexStyle(0,DRAW_LINE);
SetIndexDrawBegin(0,Periods);
if(
!SetIndexBuffer(0,e7) &&
!SetIndexBuffer(1,e2) &&
!SetIndexBuffer(2,e3) &&
!SetIndexBuffer(3,e4) &&
!SetIndexBuffer(4,e5) &&
!SetIndexBuffer(5,e6) &&
!SetIndexBuffer(6,e1)
)
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("T3MA("+Periods+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Moving Average of Oscillator |
//+------------------------------------------------------------------+
int start()
{
int i,limit;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-Periods-1-counted_bars;
//---- main loop
for(i=limit; i>=0; i--) {
e1[i]=iMA(NULL,0,Periods,0,MODE_EMA,PRICE_CLOSE,i);
}
for(i=limit; i>=0; i--) {
e2[i]=iMAOnArray(e1,0,Periods,0,MODE_EMA,i);
}
for(i=limit; i>=0; i--) {
e3[i]=iMAOnArray(e2,0,Periods,0,MODE_EMA,i);
}
for(i=limit; i>=0; i--) {
e4[i]=iMAOnArray(e3,0,Periods,0,MODE_EMA,i);
}
for(i=limit; i>=0; i--) {
e5[i]=iMAOnArray(e4,0,Periods,0,MODE_EMA,i);
}
double a= VolumeFactor; //0.8;
double c1=-a*a*a;
double c2=3*a*a+3*a*a*a;
double c3=-6*a*a-3*a-3*a*a*a;
double c4=1+3*a+a*a*a+3*a*a;
//T3MA=c1*e6+c2*e5+c3*e4+c4*e3;
for(i=limit; i>=0; i--) {
e6[i]=iMAOnArray(e5,0,Periods,0,MODE_EMA,i);
e7[i]=c1*e6[i]+c2*e5[i]+c3*e4[i]+c4*e3[i];
}
//---- done
return(0);
}
//+------------------------------------------------------------------+
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