It is an MT4 indicator based almost exclusively on the classic technical analysis tool Trix. Trix, also known as TEMA, is a triple exponential moving mean. It is different from the normal MAs (Moving Average) because it is an oscillator. The indicator's line is shown in a separate window. It does not appear in the candlestick chart. Instead, it takes the form oscillators, which are repeated fluctuations that display the rate of change.
The Trix is built using only price data. The indicator does not repaint, so it is ideal for intraday trading or scalping in Forex markets. The indicator should be used in the timeframe M1 to M30.
There are three types of signals:
- Crossover of the fast Trix lines with the slow Trix lines (reversal sign).
- Crossover of the Trix with the zero line (trend signal).
- These lines both move in the same direction.
Although the Trix is a momentum indicator, it also provides trend signals.
How to use the Trix Crossover-MT4 Indicator For Forex Trading
The price is considered to be in the overbought area if the Trix line is higher than the zero line. Conversely, a lower Trix will indicate that the price is in an oversold zone.
To determine the exact time of reverse, one must use the crossover of Trix and signal lines:
- A Buy signal is created when the signal line crosses over the Trix.
- A Sell signal is created when the signal line crosses under the Trix.
It is advisable to close a trade immediately after the opposite signal occurs. If the Trix line crosses over the zero line, you can set a Take Profit limit or close the trade. The zero line indicates that the trend phase has begun and that the momentum has reverted. If you aren't sure of the trend, it is better to close a trade.
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How do I download and install an indicator
These steps are required to install the indicator onto your MT4 platform.
- At the bottom of your screen, click on the " download indicator" button.
- Save the file to your hard drive.
- Move the files to the MT4>Indicator directory in the MetaTrader 4 software program file directory.
- Start your MetaTrader platform.
- Navigate to " Indiators."
- To apply the Crossover MT4 Indiciator template, select it.
Note that This indicator has been created by a third party. AtoZ Markets has no copyrights to this trading tool.
Do you want to trade with the Trix CrossoverMT4 Indicator?
This article will help you understand the basics of this indicator before you begin trading.
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