The fast TRIX Forex Scalper indicator for Metatrader 5 delivers solid buy/sell trade signals for scalpers with the help of the TRIX EMA indicator.
TRIX stands for triple exponential average.
The indicator appears in a separate chart window as a green and red colored line.
- The green colored TRIX line signals a buy trend.
- The red colored TRIX line signals a sell trend.
The indicator performs the best on the low spread currency pairs during the most volatile trading sessions.
Typically, we aim to exit the trade for 8-20 pips profit.
The indicator contains the following inputs and parameters: EMA period (14), color settings.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the fast TRIX Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Fast TRIX Forex Scalper?
Find a simple trading example below:
- A buy signal is given when the green colored TRIX line appears on the chart.
- Open a buy order and place your stop loss below short-term support.
- Close the buy trade for 8-20 pips profit.
- A sell signal is given when the red colored TRIX line appears on the chart.
- Open a sell order and place your stop loss above short-term resistance.
- Close the sell trade for 8-20 pips profit.
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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 TRIX (fast).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