TRIX for Metatrader 4 is a momentum Forex indicator that provides trade entry and exit signals and it works very similar to MACD.
The indicator appears in a bottom window of the trading platform and delivers simple to use buy and sell signals.
TRIX is very reliable, lightweight, and will not slow down your trading platform.
Buy & sell signal:
- Open a buy trade when the yellow signal arrow appears on the chart.
- Open a sell trade when the blue signal arrow appears on the chart.
The indicator can be used for both trade entry and exit or as an additional moving average indicator trend filter.
TRIX works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Indicator Example Chart (EUR/USD H4)
The example chart below displays the TRIX mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown above.
Feel free to use your own favorite trade entry, stop loss and take profit method when using this indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Moving average
Does the indicator repaint? No.
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.