The TRIX Trend Cycle Metatrader 4 forex indicator is a popular trading oscillator used by many currency traders.
TRIX oscillates between 0 and 105 readings in a separate MT4 trading window.
Indicator reading 0 is said to be oversold while reading 105 is said to be overbought.
In order to achieve good trading results with TRIX, you need to use it together with a trend following indicator such as a simple moving average or exponential moving average.
Always trade in the direction of the underlying trend as indicated by the trend following indicator.
Price action above the trend following indicator? Only trade TRIX oversold signals found at the 0 level.
Price action below the trend following indicator? Only trade TRIX overbought signals found at the 105 level.
The default period for the TrixPeriod is set to 4 but you can change it directly from the indicator’s inputs tab. Tweak this setting to fully fit your needs.
TRIX can be used for scalping, day trading and swing trading.
Free Download
Download the “trix-trend-cycle.ex4” MT4 indicator
Example Chart
The EUR/USD H1 chart below displays the TRIX Trend Cycle forex indicator in action.
Basic Trading Signals
Signals from the TRIX Trend Cycle MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open long trade position when the TRIX Trend Cycle indicator first reaches the 0 level and then draws a green line.
Sell Signal: Open short trade position when the TRIX Trend Cycle indicator first reaches the 105 level and then draws a red line.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
Download
Download the “trix-trend-cycle.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (TrixPeriod) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
Installation
Copy and paste the trix-trend-cycle.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)