T3 Price Overlay Uses High and Low Moving Averages to Color Candles
Summary
The T3 Price Overlay indicator calculates two T3 moving averages from High and Low prices, then colors candles according to their relationship to those lines. Users can configure the T3 calculation period and volume factor. The indicator includes its own moving-average calculations, so a separate T3 moving-average indicator is not required.
Candles closing above the upper line are green when bullish and light green when bearish. Candles closing below the lower line are red when bearish and light red when bullish. The description does not specify colors or rules for candles closing between the two lines, nor does it provide tests or evidence that the coloring produces profitable signals. It explains a visual classification method, not a complete trading strategy.
Key ideas
- The indicator calculates upper and lower T3 moving averages using High and Low prices.
- Its period and volume factor are configurable.
- Candle color depends on whether the close is beyond an outer line and whether the candle is bullish or bearish.
- The description gives no trading performance evidence or rule for candles between the lines.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.