Heavy bars deserve more say than quiet ones. The T3 moving volume average indicator first builds a 20-bar volume-weighted average of the close, then smooths it twice with Tillson’s T3: once over 8 bars and once over 21. The two lines cross when volume-backed momentum turns.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: T3 MVA Fast, T3 MVA Slow, T3 MVA Buy, T3 MVA Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 12 |
Plots, colours and placement
Two lines and two marks on price.
`T3 MVA Fast` traces dodger blue at width 2.
`T3 MVA Slow` traces orange red at width 2.
`T3 MVA Buy` prints lime with arrow 233.
`T3 MVA Sell` prints red with arrow 234.
A comment shows the lengths and factor.
- T3 MVA Fast: line, dodger blue, width 2
- T3 MVA Slow: line, orange red, width 2
- T3 MVA Buy: arrow, lime, width 2, arrow code 233
- T3 MVA Sell: arrow, red, width 2, arrow code 234
How the T3 Moving Volume Average Indicator does its maths
Volume weighting
`VwmaPeriod` `20` multiplies each close by its tick volume, sums them, and divides by total volume. Busy bars pull the line harder.
Two T3 lines
`FastPeriod` `8` and `SlowPeriod` `21` each run Tillson’s T3 on that weighted line. `VolumeFactor` `0.7` sets the blend.
Crosses
A buy prints where the fast line crosses above the slow one. The sell is the mirror.
What the output means
Blue above orange red favours buyers.
Crosses mark turns in weighted momentum.
Lines curve smoothly thanks to the T3.
`UseRealVolume` `false` reads tick volume.
`ArrowOffset` `1.2` spaces marks by bar range.
Warm-up needs about one hundred thirty bars.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Crosses of the two lines each send a message. `EnableAlerts` passes them through, with the popup the only channel active when you first load it.
Every T3 Moving Volume Average Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
FastPeriod |
T3 fast length. Fast T3 length, `8`. | 8 |
SlowPeriod |
T3 slow length. Slow T3 length, `21`. | 21 |
VwmaPeriod |
volume-weighting window. Volume-weighting window, `20`. | 20 |
VolumeFactor |
T3 hot factor (0..1). T3 blend factor, `0.7`. | 0.7 |
UseRealVolume |
true = real volume, false = tick volume. Use exchange volume, `false`. | off |
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowOffset |
arrow gap as multiple of bar range. Mark gap in bar ranges, `1.2`. | 1.2 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch, `true`. | on |
EnablePopup |
Popup, `true`. | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
Email route, `false`. | off |
EnableSound |
Speaker, `false`. | off |
SoundFile |
(see inputs panel) | alert.wav |
Chart and timeframe notes
Tick volume is available on every forex chart, so the weighting works everywhere. EURUSD H1 is the reference chart, with a cross most days. On M15 crosses follow the sessions. On D1 they track weekly swings.
What to be wary of
Tick volume only stands in for real volume.
Crosses whipsaw when both lines flatten.
Two layers of smoothing add lag.
Popup alone delivers until changed.
Copy the compiled T3 Moving Volume Average Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Moving Average Crossover Strategy.
Background reading on the method behind the T3 Moving Volume Average Indicator: VWAP at Investopedia, Volume-weighted average price on Wikipedia.
Download the T3 Moving Volume Average Indicator for MT4 and MT5
The zip holds the compiled T3 Moving Volume Average Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
What does VwmaPeriod 20 weight by?
Tick volume, the count of price updates per bar. Over the twenty-bar window a busy bar’s close counts for more in the average than a quiet one’s, so active sessions steer the line.
Why run T3 on top of the weighted average?
The volume-weighted line on its own is jumpy. Tillson’s T3 smooths it without adding much lag, so the fast and slow lines show the underlying trend of volume-backed price.
Which cross of T3 MVA Fast prints a Buy?
The closed bar where the fast line moves from at or below the slow line to above it. No other filter applies, so every upward cross of the two weighted lines gets a mark.
Should UseRealVolume stay false on forex?
Yes. Spot forex has no central volume, so tick volume is the usual stand-in. Switch it on only for instruments where the broker supplies real volume.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the T3 Moving Volume Average Indicator as one input. Always backtest before trading live.
Category: this is part of our Volume collection. Browse more Volume for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- Learn more about the underlying method in Commodity currency on Wikipedia.
- For wider market background, see Candlesticks And Traditional Chart Analysis at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.