The TRIX Pivot Signal Forex indicator for Metatrader 5 is an awesome technical tool that identifies buy & sell trends based on the TRIX pivot point.
The indicator is displayed in a separate chart window as the TRIX pivot point along with an easy to follow green/red signal line.
The signal line is based on the pivot point and makes it easy for any trader to follow the overall trend.
The green signal line is considered bullish while the red signal line is bearish.
The indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters can be modified: time frame, period, price, support color, resistance color, and display type.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Trix (pivots).mq5 Indicator (MT5)
Chart Example
The following chart shows what the TRIX Pivot Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The TRIX Pivot Signal Forex Indicator?
Find a simple trading example below:
Buy Signal
- The start of the green TRIX signal line is bullish.
- Open a buy transaction and place a protective stop loss below support.
- Exit the buy trade for a fixed profit target, or wait for the red signal line.
Sell Signal
- The start of the red TRIX signal line is bearish.
- Open a sell transaction and place a protective stop loss above resistance.
- Exit the sell trade for a fixed profit target, or wait for the green signal line.
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Trix (pivots).mq5 Indicator (MT5)
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 (pivots).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