The TRIX Alert Arrows Forex Signal indicator for Metatrader 5 is a non-repaint technical indicator that delivers buying and selling signals to currency traders.
TRIX stands for Triple Exponential Average.
It transforms the classic Triple Exponential Average indicator into easy to trade buy and sell signals.
The indicator appears in a sub chart window as colored red & blue arrow signal alerts.
How to interpret TRIX Alert Arrows Signal indicator?
- A blue arrow is a buy signal alert.
- A red arrow is a sell signal alert.
The following indicator inputs and parameters can be modified: EMA period, signal period, symbol code up, symbol code down.
Tip for 1-minute and 5-minute chart traders: the TRIX Alert Arrows indicator delivers the best results in the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
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The following chart shows how the TRIX Alert Arrows Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TRIX Alert Arrows Signal Indicator?
Find a simple trading example below:
- A buy signal is formed when the blue colored signal arrow gets displayed on the chart.
- Open a buy trade and place your protective stop below support.
- Exit method 1: close the buy trade when a red colored arrow appears on the chart.
- Exit method 2: close the buy trade for a fixed profit target of your preference.
- A sell signal is formed when the red colored signal arrow gets displayed on the chart.
- Open a sell trade and place your protective stop above resistance.
- Exit method 1: close the sell trade when a blue colored arrow appears on the chart.
- Exit method 2: close the sell trade for a fixed profit target of your preference.
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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 ARROWS.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