The Triple Moving Average (TRIX) Cloud indicator for Metatrader 5 generates reliable buy/sell trading signals to all kind of Forex traders.
The indicator appears as a TRIX cloud, which alternates between green and orange colors.
To trade Forex using this indicator, follow these simple rules:
- A green colored cloud generates a buy signal.
- An orange colored cloud generates a sell signal.
You have the flexibility to customize the indicator inputs and parameters, including the period, cloud up color, and cloud down color to suit your preferences.
The TRIX Cloud indicator is effective and can be used with all trading instruments available on the MT5 charting platform.
This technical tool is versatile and works equally well for scalpers, day traders, and swing traders.
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The following picture shows how the TRIX Cloud indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TRIX Cloud Indicator?
Find a simple trading strategy below:
- A buy signal is triggered when the green colored TRIX cloud appears in the chart.
- Open a buy market order and place a stop loss below the most recent swing low.
- Exit the buy trade when the predetermined take profit target is reached.
- Alternatively, wait for a sell signal cloud before closing the buy trade.
- A sell signal is triggered when the orange colored TRIX cloud appears in the chart.
- Open a sell market order and place a stop loss above the most recent swing high.
- Exit the sell trade when the predetermined take profit target is reached.
- Alternatively, wait for a buy signal cloud before closing the sell trade.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the trixcloud.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- To access the indicator list, simply open the dropdown menu and select it
- Click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration