You can now download the Trix Crossover MT4 Indicator for free on AtoZ Markets indicators gallery.
The Trix Crossover is an MT4 indicator based on the almost classic technical analysis tool Trix. Trix is a triple exponential moving average also known as TEMA. It differs from the usual MAs (Moving Average) in that it exists in the form of an oscillator, i.e. the indicator’s line is displayed in a separate window, but not in the candlestick chart, and takes the form of repeated fluctuations while displaying the rate of change of the indicator.
Only price data is used to build the Trix. Also, the indicator doesn’t repaint and is perfect for intraday trading and scalping in the Forex market. We recommend using the indicator in timeframes М1-М30.
Three types of signals are generated:
- Crossover of the fast and the slow Trix lines (reversal signal).
- Crossover of the Trix and the zero line (trend signal).
- Both these lines move in the same direction.
The Trix is a momentum indicator by its nature, but it also gives trend signals in addition to the reversal ones.
How to Use Trix Crossover MT4 Indicator for Forex Trading
When the Trix line is above the zero line, the price is in the overbought zone; on the contrary, when the Trix is below it, the price is in the oversold zone.
In this case, one needs to use the crossover of the Trix and the signal line to determine the exact time of reversal:
- If the signal line crosses above the Trix, a Buy signal is generated.
- If the signal line crosses below the Trix, a Sell signal is generated.
It is recommended to close a trade without waiting for the opposite signal to occur. You may set a fixed size Take Profit or close a trade when, for example, the Trix line crosses the zero line. In this case, the zero line tells us that the reversal momentum has finished and the trend phase comes next. Therefore, if you’re not sure about the trend, it’s better to close a trade.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Trix Crossover MT4 Indicator” template to apply it on the chart.
Note: This indicator was developed by third party. AtoZ Markets does not carry any copyrights over this trading tool.