The TRIX (Triple Exponential Average) indicator for Metatrader 5 is a reliable, non-repaint technical indicator that follows the best trend at any given moment.
It’s composed of 3 exponential moving averages and it can be used as a standalone buy/sell trading tool.
The indicator is easy to trade and suits both beginners and seasoned traders alike.
How to interpret TRIX?
- A blue colored signal line represents a bull trend.
- A brown colored signal line represents a bear trend.
The following indicator inputs and parameters can be modified: period, price, and color change mode.
Tip for 1-minute and 5-minute chart traders: the TRIX 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.
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Chart Example
The following chart shows how the TRIX Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TRIX Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the blue colored TRIX line is a buy signal.
- Open a buy trade and place your stop loss a few pips below the most recent swing low area.
- Close the buy trade for a fixed profit target or reverse the trade when the brown TRIX signal line gets displayed in the chart.
Sell Signal
- The appearance of the brown colored TRIX line is a sell signal.
- Open a sell trade and place your stop loss a few pips above the most recent swing high area.
- Close the sell trade for a fixed profit target or reverse the trade when the blue TRIX signal line gets displayed in the chart.
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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.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