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, 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 of time.
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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:
- 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.
- 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