T3 trend strength indicator

via forex-tsd.com

This is a variation on the trend strength ema.

It belongs to a family of "composite" indicators (combining more than one basic indicator into one value, a kind of a macd in this case).

Instead of using EMA for calculation, this one uses T3. T3 can be used in 2 variations : Tim Tillson original (T3Original parameter set to true) or Fulks/Matulich version (T3Original parameter set to false - default setting since the Fulks/Matulich version compensates T3 lag significantly compared to original T3). Periods in this one can be set individually (if you want to omit some period, set it to 0) and can be fractional (there is no reason whatsoever why T3 period should be strictly an integer number).

Posted via email from newdigital's posterous