Color Shaff Trix Trend Cycle Indicator

Color Shaff Trix Trend Cycle Indicator

Color Shaff Trix Trend Cycle Indicator For MT5, a moving average based oscillator providing overbought and oversold trading signals.

The Color Shaff Trix Trend Cycle Indicator for MT5 is an oscillator that provides forex trading signals based on overbought and oversold market conditions. TRIX – Trix Exponential Moving Average filters out small price fluctuations to provide a smoother trend. Consequently, it allows forex traders to buy and sell and navigate the markets with ease.

The indicator is easy to understand and works well for both new and experienced Forex traders. It works on all chart timeframes; however, traders should consider working on higher chart time frames. In addition, this indicator does not redraw after the candle closes.

Additionally, traders can use this indicator for automated trading strategies or use it for analysis along with other technical indicators.

Color Shaff Trix Trend Cycle Indicator For MT5 Trading Signals

The indicator displays an oscillator from -105 to 105. -105 indicates an oversold condition, and 105 indicates an overbought condition. The oscillator draws colored bars, indicating a trend cycle. A bullish trend cycle is represented by blue and green colored bars, while pink ad purple represents a bearish one. The trading strategy is to enter the market in an oversold or overbought state, depending on the color of the line.

Traders should consider buying a currency pair if the indicator bars turns blue. A stop loss below the previous swing low should protect the position. Likewise, if the indicator line turns pink, indicating an overbought condition, it is time to sell.

As an oscillator, the best strategy is to hold a position until an opposing trading signal appears. Moreover, traders should consider viewing a higher timeframe chart to confirm and trade in the direction of the trend.

Conclusion
Thus, TRIX is a moving average based oscillator that provides overbought and oversold trading signals. However, traders should use price action to confirm price reversals.