Trix is using Moving Average exponential setting to generate the lines. Trix Alert Indicator uses triple smoothing to smoothen the noise in the market. This Indicator performs well in Trending markets because its an lagging indicator but if market is raging then the signals will not be so accurate. Additional to this Trix Alert Indicator has alerting function embedded to notify you if you dont notice the change.
Again this indicator is best used with other Indicators and combine it in one good strategy. If you use only one indicator this can lead to too many false positive signals which you really should avoid. Also when using the Trix Alert Indicator make sure that the two lines should be as much apart as possible to get the best possible signal. If they are too much together then market is raging and you should be using this indicator in Trending markets.
This are the available settings for Trix Alert Indicator:
- TRIX_Period: setting for Trix Period smoothing
- Signal_Period: setting for Signal EMA period
- Signals: turn on or off the signals
- CountBars: how many bars back you want to show the indicator
How to install Trix Alert Indicator in MetaTrader 4 / MT4:
- Download/Copy/Save the MQ4/EX4 file into your C:\Program Files\MetaTrader 4\experts\indicators folder (or change the folder to your installation sometimes forex broker name)
- Restart your MetaTrader 4 application (assuming it’s currently open) … or Launch your MetaTrader 4 application
- On the left hand side, look for the “Navigator” window and under the “Common” tab, look into the “Custom Indicators” section
- Locate the indicator which you have just downloaded into the folder stated in Step 1
- Drag (Click and drag) the indicator onto the chart
- Choose your settings and click OK.
- TADA and your done!