Triple Exponential Average (TR I X)
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Triple Exponential Average (TR I X)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Triple Exponential Average (TRIX) was developed by Jack Hutson as an oscillator of the overbought/oversold market conditions.
It can also be used as the Momentum indicator. Triple smoothing is used for removing the cyclic components in price movements with the period less than that of TRIX.
The zone is used as the indicator of overbought or oversold state (positive and negative respectively). The signal to by is crossing of the zero line from below, or "bulls'" divergence; the signal to sell is the indicator's crossing the zero line from above, or "bears'" divergence with prices. The distinctive feature of the indicator is the perfect filtration of price noises and absence of lag that is so typical of most moving averages.
Triple Exponential Average Indicator
Calculation:First the Exponential Moving Average of a price is calculated:EMA1(i) = EMA(Price, N, i)where:
Price(i) - current price;
N - EMA period;
EMA1(i) - current value of the Exponential Moving Average.Then the second smoothing of the obtained average is performed - double exponential smoothing:EMA2(i) = EMA(EMA1, N, i).The double Exponential Moving Average is smoothed exponentially once again - we get the Triple Exponential Moving Average:EMA3(i) = EMA(EMA2, N, i);Now the indicator itself is calculated:TRIX(i) = (EMA3(i) - EMA3(i - 1))/ EMA3(i-1)
