In this article we are going to show a modified indicator for Metatrader 4 that allows adding the Trix indicator to the price charts on this trading platform. Initially we explain what is the Trix and how it can be used to analyze the market and trade. Later we will show the most common strategies to trade with this technical tool and finally we include the modified indicator for download, along with its setting parameters.

Before we begin, we want to point out that as with any other technical indicator, the Trix and its signals should not be used alone to make important decisions regarding our trades.  It is recommended to use a set of analysis tools (a complete trading system) that provide an overview of what is happening in the markets.

What is the Trix?

The Trix is ​​sometimes referred to as the Triple Exponential Moving Average indicator and is based on the difference of 1 period from the Triple Exponential Moving Average. It is a momentum indicator, displayed as an oscillator moving above and below a zero line. It compares two triply smoothed exponential moving averages.

More specifically, it is an indicator that combines trend analysis with momentum analysis. The triple smoothed exponential moving average covers the trend, while the 1-period percentage change measures momentum.

One of the main advantages of the Trix is ​​that it has the ability to filter out a large part of the “market noise”. This powerful tool not only filters out market noise but also tends to be a leading indicator rather than a lagging one.

In addition to its ability to filter out market noise, another advantage of the indicator is its faster response to market changes. Using the triple exponential moving average, the Trix filters out market noise and excludes short-term cycles that in other indicators can signal changes in market movements.

How can we use the Trix indicator for trading?

Trix provides an opportunity to detect various peculiarities and patterns in price dynamics that are invisible to the naked eye. Based on this information, traders can take a higher price movement and adjust their strategy accordingly.

First of all, as we already explained, the Trix oscillates around zero, therefore if the indicator is above zero, that means that there is an uptrend in the market. If the indicator is below the zero line, then the trend is bearish.

Trix indicator for MT4

Trend identification with the Trix indicator for Metatrader 4

In general, Trix signals can be divided into the following types:

  • Bullish and bearish crosses of the Trix indicator of the zero line.
  • Bullish and bearish crosses of the Trix with its signal line (Trix EMA).
  • Bullish and bearish divergences between the Trix and the price.

In the Trix indicator for MT4 that we include for its download, bullish and bearish arrows are displayed every time the Trix crosses its signal line. This helps the trader to identify buy and sell opportunities, as shown in the following chart:

Trix Indicator Crosses

Buy/Sell signals from Trix indicator crosses

  • Light blue arrows pointing down are sell signals
  • Yellow arrows pointing up indicate a buy signal

Of course, these signals should be taken based on the market context and in conjunction with the signals from other technical indicators that we use regularly, which allow us to analyze other market aspects. For example, we can use the Trix with other oscillators (especially range-bound oscillators), moving averages and trend strength indicators.

We are not going to delve any further with respect to the most common strategies used with the Trix indicator since this topic will be covered in greater depth in an article dedicated exclusively to this technical tool.

Trix Indicator for MT4 and MT5

The Trix indicator for MT4 that we include for download below shows this oscillator in a separate window below the price chart, as shown in the images above. Additionally, it draws buy and sell signals in the form of arrows whenever the Trix and its signal line have bullish and bearish crosses.

The setting parameters of this indicator are the following:

Trix indicator settings

Settings of the Trix indicator for MT4

  • TRIX_Period: It is the number of periods used to calculate the exponential moving average on which this indicator is based. In this case that value is 13.
  • Signal_Period: It is the number of periods used in the calculation of the indicator’s signal line.
  • Signals: We use this parameter to indicate if we want the Trix to show bullish and bearish crosses with the signal line.
  • CountBars: It is recommended to leave this parameter as it is without changing it. It is used to indicate the number of bars used in the calculation of the indicator.

Through the Colors tab, we can change the color of all the indicator lines as well as their signals.

For example, in the following image we have a price chart of the EUR/USD currency pair with the Trix indicator (15, 9) where the signal arrows are green (bullish signals) and red (bearish signals). We have also changed the colors of the indicator lines:

Trix indicator download

You can download the Trix indicator for Metatrader 4 and another version for Metatrader 5 at the following link:

Trix indicator download link for MT4 & MT5

How to install this indicator on Metatrader?

  • Download the Trix.mq4 file (this file is included among the files that can be downloaded using the link above)
  • Copy and paste the Trix.mq4 file in the MQL4/Indicators directory of the platform installation.
  • Start or restart your Metatrader 4 platform
  • Select the price chart and time frame where you want to test the Trix indicator
  • Look for “Custom Indicators” on your MT4 platform.
  • Click where it says “Trix
  • Modify the indicator settings or click “OK
  • The Trix indicator is now displayed below your price chart.