The TRIX Oscillator forex indicator for MT4 is a great signals trading tool that works for any currency pair and timeframe.
TRIX fluctuates above and below the neutral zero level in a separate Metatrader 4 trading window.
The trend is considered to be bullish above the zero level.
Conversely, the trend is considered to be bearish below the zero level.
The two colored signal lines of the TRIX oscillator create a crossover forex system.
A bullish signal occurs when the fast signal line crosses above the slow signal line from below.
A bearish signal occurs when the fast signal line crosses below the slow signal line from above.
TRIX uses 12 and 9 default setting for the period and signal respectively. Both settings can be changed from the indicator’s inputs tab.
The NZD/USD Daily chart below displays the TRIX Oscillator Forex Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the TRIX Oscillator MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy trade position when the blue signal line crosses above the red signal from below and TRIX is positioned above the 0.00 level.
Sell Signal: Initiate sell trade position when the blue signal line crosses below the red signal from above and TRIX is positioned below the 0.00 level.
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Period, Signal) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the dl-trix.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)