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TRIX (using double smoothed Wilder's EMA) - indicator for MetaTrader 5
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- 5301
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- Published:
- 2019.01.13 19:53
- Updated:
- 2019.01.13 20:05
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Theory :
TRIX (triple exponential average
(TRIX) indicator is an oscillator used to identify oversold and
overbought markets, and it can also be used as a momentum indicator. It is using EMA for calculation
This version :
Is using the "Double smoothed Wilder's EMA" variation instead of using "regular" EMA for TRIX calculation. That makes it
faster in response to market changes than the original TRIX indicator
Usage :
You can use this version the usual way - change of color can be used as a signal
Very handy Multiple Moving Averages for those who like to look at Price Action using several time periods...
Symbol Name On ChartPretty simple. Seems Stupid. But yes, You need this...
TRIX using Wilder's double smoothed EMA - with an addition of floating levels
Corrected double smoothed Wilder's EMACorrected double smoothed Wilder's EMA