triple exponential average (trix)
Info
The triple exponential average (trix) is a Indicator for MetaTrader 5 that triple exponential average (trix) is an oscillator that indicates overbought/oversold market conditions. it can also serve as a momentum indicator.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use triple exponential average (trix)
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.
What this tool does
triple exponential average (trix) is an oscillator that indicates overbought/oversold market conditions.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: triple exponential moving average (tema) - another powerful indicator for MetaTrader 5 traders.
triple exponential average (trix) is an oscillator that indicates overbought/oversold market conditions. it can also serve as a momentum indicator. the indicator applies triple smoothing to remove cyclic components in price movements with periods less than that of trix.Also recommended: double exponential moving average (dema) - similar indicator with strong performance on MetaTrader 5.
the indicator uses a zone to signal overbought or oversold states (positive and negative, respectively). buy signals are triggered when the indicator crosses the zero line from below, or when there is a 'bulls' divergence. sell signals are indicated by the crossing of the zero line from above, or a 'bears' divergence with prices.
trix's key advantage is its ability to filter price noises and minimize lag, which is common in most moving averages.
calculation:
first, calculate the exponential moving average (ema) of the price:
ema1(i) = ema(price, n, i)
where:
- price(i) is the current price
- n is the ema period
- ema1(i) is the current value of the exponential moving average
then, perform double exponential smoothing on the obtained average:
ema2(i) = ema(ema1, n, i)
next, apply exponential smoothing to the double ema to obtain the triple exponential moving average:
ema3(i) = ema(ema2, n, i)
finally, calculate the trix indicator:
trix(i) = (ema3(i) - ema3(i - 1)) / ema3(i-1)
You may also like: Adaptive Exponential Moving Average - ATR Volatility Adjusted - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <movingaverages.mqh>
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_plots 1
#property indicator_type1 draw_line
#property indicator_color1 red
#property indicator_width1 1.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.