Skip to content

TRIX Candle Metatrader 5 Forex Indicator

    The Trix Candle Metatrader 5 Forex indicator is an enhanced version of the Triple Exponential Average (TRIX) that was designed by Jack Hutson.

    The TRIX indicator was originally developed as an oscillator to gauge overbought/oversold market conditions.

    The trix candle Metatrader 5 forex indicator can also be used as a momentum indicator.

    Traders use the trix candle MT5 indicator as a tool to eliminate the cyclic components in price movements with the period less than that of the TRIX.

    This indicator is implemented as a sequence of candlesticks within the indicator window.

    These candlesticks pop up as a result of relevant price time series processed by the TriX algorithm.

    This approach offers a more informative means of analysis in many market situations.

    Free Download

    Download the “trixcandle.ex5” MT5 indicator

    Example Chart

    The EUR/CAD H4 chart below displays the Trix Candle Metatrader 5 forex indicator in action

    Basic Trading Signals

    Buy Signal: Go long when the trixcandle Metatrader 5 forex indicator forms teal colored candles. Hold bullish positions when candles are aligned above the zero level.

    Sell Signal: Go short when the trixcandle Metatrader 5 forex indicator forms deep pink colored candles. Stay bearish when the candles are aligned below the zero level.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the candles of the trixcandle MT5 fx custom indicator dip below the zero level.

    Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the candles of the trixcandle MT5 fx custom indicator surge above the zero level.

    Tips: Day traders will find the trixcandle Metatrader 5 forex indicator as an irresistible tool.

    Download

    Download the “trixcandle.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart window indicator

    Customization options: Variable (TriX_Period), Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: oscillator

    Installation

    Copy and paste the trixcandle.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL5 > Indicators (paste here)

    Share this post!