TRIX Arrows Indicator

TRIX Arrows Indicator

TRIX – Triple Exponential Moving Average Indicator for MT5 provides the best forex trading signals with arrows.

The TRIX Arrows indicator for Metatrader 5 filters minor price changes and fluctuations that are considered insignificant for Forex trading. The TRIX Arrows indicator for MT5 provides the best trading signals with arrows. In addition, it signals overbought and oversold as the indicator is an oscillator. In addition, a divergence between the indicator and price signals a potential reversal; thus, it also acts as the best leading indicator for forex and index technical traders. The indicator for MT5 is based on a smoothed exponential moving average. It is widely used by forex and index traders to prepare the best technical trading strategy.

TRIX Arrows Indicator Trading Signals

The above EURUSD H1 chart shows the TRIX Arrows indicator for Metatrader. The oscillator is displayed in a separate indicator window and displays trading signals as arrows inside the indicator window. The TRIX Arrows indicator displays BUY signals with a BLUE colored arrow and SELL signals with a colored RED arrow.

TRIX (Triple Exponential Moving Average) is a momentum based oscillator and it uses a smoothed exponential moving average to calculate trading signals. Traders can BUY as soon as the BLUE arrow appears and exit the position at the opposite signal. Conversely, traders can SELL when the colored RED arrow appears. Traders can continue to hold the position and exit on the opposite signal.

Since the indicator is an oscillator, forex traders can use it to identify overbought and oversold conditions. The TRIX Arrows indicator acts as a leading indicator as it shows divergence. Any divergence between the price direction and the indicator indicates potential price reversals. If the price moves up and the indicator moves in the opposite direction. In this case, a reversal is imminent and forex traders can prepare their trading strategy accordingly.

Traders can combine TRIX with TEMA for better results, Metatrader displays TEMA in the chart window and TRIX in the indicator window. Both TRIX and TEMA are based on exponential moving average smoothing and can complement each other.

Newbie traders will find TRIX very useful as it provides trading signals, overbought and oversold information along with divergence. Experienced traders can combine them with other indicators to form the best technical trading strategy for them. The indicator for Metatrader 5 is easy to download and install.

Conclusion
The TRIX Arrows indicator for Metatrader 5 is an excellent indicator for filtering noise when trading in the Forex market. The most important cause of losses in forex and index trading is spikes or unwanted market fluctuations. However, combining TRIX with TEMA to create a technical trading strategy provides much better signals for forex and index traders as they use exponential moving averages. The indicator is easy to download and install, and traders can customize the settings to get the best trading results.