A bit more what is velocity : according to Mark Jurik it is a smoother momentum. In the original velocity Mark Jurik does not use JMA (as some versions are adding JMA to it) but has a very specific way of calculating. Luckily that way of calculating is compatible.
First the comparisons on the image: upper is velocity, middle is T3 velocity and lower is momentum (all set to period 14 and using close). As it can be seen the T3 version is very smooth even without using additional smoothing (that is one of the reasons why some versions added JMA smoothing to it - to make it smoother than the original, but regardless how good the JMA is it means adding lag too. No lag adding in T3 version).
One of the advantages of T3 velocity : you can control the "speed" of it with simply changing the Hot filed.
Download from here:
http://www.forex-tsd.com/indicators-metatrader-4/268-t3-22.html#post433852
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