The TRIX Candle Forex indicator for Metatrader 5 generates reliable trading signals based on the triple moving average indicator.
TRIX stands for the triple moving average and is displayed as a sequence of sea-green and magenta candles in a separate chart window.
Interpreting trends using this indicator:
- Sea-green colored TRIX candles indicate an uptrend.
- Magenta-colored TRIX candles suggest a downtrend.
You have the flexibility to customize the following indicator inputs and parameters: TRIX period (14), up color, and down color.
The TRIX Candle indicator is effective across all trading instruments available on the MT5 charting platform.
To become proficient with this technical tool, practice using it on a demo account until you fully comprehend its functionality.
Download Indicator
trixcandle.mq5 Indicator (MT5)
Chart Example
The following picture shows how the TRIX Candle indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TRIX Candle Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is confirmed when the sea-green colored TRIX candle gets plotted on the chart.
- Initiate a buy trade and place a stop loss 3 pips below the most recent support region.
- Exit the buy trade when the predetermined take profit target is reached.
- Alternatively, wait for a sell signal before closing the buy trade.
Sell Signal
- A sell signal is confirmed when the magenta-colored TRIX candle appears on the chart.
- Initiate a sell trade and place a stop loss 3 pips above the most recent resistance area.
- Exit the sell trade when the predetermined take profit target is reached.
- Alternatively, wait for a buy signal before closing the sell trade.
Download Now
trixcandle.mq5 Indicator (MT5)
MT5 Trading Strategy: TRIX Trend Channel Breakout System
This strategy combines the strength of the Trix Candle Forex Signal Indicator with the price structure insights of the Super Trend Line Channel Indicator.
Together, they form a trend-following system that captures clean breakouts and filters out low-quality trades using dynamic trend zones.
Indicators Used
- Trix Candle Forex Signal: A momentum-based candle signal tool derived from the TRIX oscillator, highlighting trend reversals and strength via colored candles.
- Super Trend Line Channel: A channel-based trend indicator that shows evolving dynamic support/resistance levels and guides price action.
Timeframes
Works best on M15, M30, and H1 charts. Effective for intraday traders and short-term swing traders.
Buy Entry Rules
- The Trix Candle turns green, indicating bullish momentum.
- Price breaks and closes above the upper Super Trend Line Channel.
- Enter a long position on the close of the breakout candle.
- Place stop-loss below the middle or lower trend line of the channel or recent swing low.
- Target the next resistance zone or use a 1.5–2x risk-reward ratio.
Sell Entry Rules
- The Trix Candle turns red, signaling bearish momentum.
- Price breaks and closes below the lower Super Trend Line Channel.
- Enter a short trade at the close of the breakout candle.
- Set stop-loss above the middle or upper trend line or the recent swing high.
- Use the next support level or a fixed 2:1 reward-to-risk target.
Strategy Tips
- Only trade breakouts when the Trix Candle color aligns with the channel direction.
- Use the Super Trend Line Channel as a trailing stop once the trade moves in your favor.
- Avoid trading inside the channel or during consolidation phases.
Conclusion
The Trix Candle Forex Signal Indicator offers powerful momentum detection, while the Super Trend Line Channel Indicator provides a structural trend framework.
When combined, they create a reliable breakout system that gives traders strong confirmation before entering high-probability trades.
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 trixcandle.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!
