OPEN-SOURCE SCRIPT
Tillson T3 Velocity Channels
Tillson T3 Velocity Channels
The Tillson T3 Velocity Channels is an advanced trend-following and volatility-tracking tool that integrates the legendary Tim Tillson T3 smoothing algorithm with dynamic Fibonacci-based bands. Unlike standard moving averages, the T3 formula offers a "near-zero lag" response while maintaining a smooth trajectory, allowing traders to identify trend shifts earlier and with higher precision.
🚀 Key Features
* T3 Core Logic: Utilizes the triple-exponential smoothing calculation to provide a cleaner trend line compared to traditional EMAs or SMAs.
* Dynamic Fibonacci Channels: Features 5 upper and 5 lower bands plotted at Fibonacci ratios (0.236, 0.382, 0.500, 0.618, 0.786). These serve as dynamic support/resistance and trend extension targets.
* Dual Calculation Modes: * ATR Mode: Channels expand and contract based on market volatility.
* Percent Mode: Channels maintain a width relative to the T3 price value.
* Entry Confirmation Filters: * Volume Filter: Only confirms trend changes when volume is above its moving average.
* RSI Filter: Ensures the trend aligns with momentum (Green only if RSI > 50, Red only if RSI < 50).
* Visual Enhancements: Includes bar coloring and cloud fills (ribbons) for instant visual recognition of market sentiment.
🛠️ How to Use
1. Trend Identification: * Green: Bullish momentum is confirmed.
* Red: Bearish momentum is confirmed.
* Gray: Neutral or unconfirmed trend (filters not met).
2. Exhaustion & Reversals: When the price reaches the outermost bands (U5 or L5), it indicates an overextended market. Watch for price action signals to anticipate a mean reversion toward the center T3 line.
3. Volatility Breakouts: In ATR mode, a sudden widening of the channels often precedes a high-velocity price move.
⚙️ Settings
* T3 Period & VFactor: Adjust the speed and smoothness. A VFactor of 0.7 is the standard default for the best balance.
* Channel Multiplier: Scale the overall width of the entire channel system.
* Filters: Toggle Volume and RSI filters on/off to suit your trading style (Scalping vs. Swing Trading).
📌 Credits
- Original T3 Logic: Tim Tillson
- Pine Script Logic: KivancOzbilgic
- Velocity Concept: gunebak4n
Disclaimer: Trading involves significant risk. Always use proper risk management and combine this indicator with other forms of analysis.
The Tillson T3 Velocity Channels is an advanced trend-following and volatility-tracking tool that integrates the legendary Tim Tillson T3 smoothing algorithm with dynamic Fibonacci-based bands. Unlike standard moving averages, the T3 formula offers a "near-zero lag" response while maintaining a smooth trajectory, allowing traders to identify trend shifts earlier and with higher precision.
🚀 Key Features
* T3 Core Logic: Utilizes the triple-exponential smoothing calculation to provide a cleaner trend line compared to traditional EMAs or SMAs.
* Dynamic Fibonacci Channels: Features 5 upper and 5 lower bands plotted at Fibonacci ratios (0.236, 0.382, 0.500, 0.618, 0.786). These serve as dynamic support/resistance and trend extension targets.
* Dual Calculation Modes: * ATR Mode: Channels expand and contract based on market volatility.
* Percent Mode: Channels maintain a width relative to the T3 price value.
* Entry Confirmation Filters: * Volume Filter: Only confirms trend changes when volume is above its moving average.
* RSI Filter: Ensures the trend aligns with momentum (Green only if RSI > 50, Red only if RSI < 50).
* Visual Enhancements: Includes bar coloring and cloud fills (ribbons) for instant visual recognition of market sentiment.
🛠️ How to Use
1. Trend Identification: * Green: Bullish momentum is confirmed.
* Red: Bearish momentum is confirmed.
* Gray: Neutral or unconfirmed trend (filters not met).
2. Exhaustion & Reversals: When the price reaches the outermost bands (U5 or L5), it indicates an overextended market. Watch for price action signals to anticipate a mean reversion toward the center T3 line.
3. Volatility Breakouts: In ATR mode, a sudden widening of the channels often precedes a high-velocity price move.
⚙️ Settings
* T3 Period & VFactor: Adjust the speed and smoothness. A VFactor of 0.7 is the standard default for the best balance.
* Channel Multiplier: Scale the overall width of the entire channel system.
* Filters: Toggle Volume and RSI filters on/off to suit your trading style (Scalping vs. Swing Trading).
📌 Credits
- Original T3 Logic: Tim Tillson
- Pine Script Logic: KivancOzbilgic
- Velocity Concept: gunebak4n
Disclaimer: Trading involves significant risk. Always use proper risk management and combine this indicator with other forms of analysis.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.