The T3 Bands indicator for Metatrader 5 measures market volatility based on the special T3 moving average and it can also be used as signals indicator.
Wide bands indicate higher volatility while narrower bands indicate less volatility.
How to spot market trends with it?
- The market trend is considered bullish when the gray middle line is sloping up.
- The market trend is considered bearish when the gray middle line is sloping down.
The following indicator inputs and parameters can be modified: T3 period, T3 hot, T3 type, deviations period, multiplier.
The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
The following chart shows how the T3 Bands Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The T3 Bands Indicator?
Find a simple trading example below:
- A buy signal occurs when the candle closes above the gray T3 middle line and the T3 bands indicate increased volatility.
- Open a buy trade and place your stop loss below support.
- Close the buy trade when price touches the upper green dotted T3 line.
- A sell signal occurs when the candle closes below the gray T3 middle line and the T3 bands indicate increased volatility.
- Open a sell trade and place your stop loss above resistance.
- Close the sell trade when price touches the lower orange dotted T3 line.
Download Now 🆓
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the T3 bands.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration