Trix With Signal Line

A single EMA still lets short cycles through - insignificant chop shows up as noise on top of the real trend. TRIX (Jack Hutson, Technical Analysis of Stocks & Commodities, early 1980s) tackles this by chaining the SAME EMA period three times in a row: EMA of close, then EMA of that EMA, then EMA of that. Each pass filters out progressively shorter cycles, so the triple-smoothed line is a genuinely cleaner trend measure than any single EMA of the same period could be. TRIX itself is not the level of that triple-smoothed line - it is its bar-to-bar percent RATE OF CHANGE: (EMA3 - EMA3[1]) / EMA3[1] * 100. Plotting the rate of change rather than the level is what makes TRIX oscillate around zero instead of trending with price, the same way MACD or any other zero-centred momentum oscillator does. A signal line (an EMA of the TRIX line) is added so a crossover is available as a trigger rather than only the zero-line cross the original method reads. Notes and limitations - Non-repainting: every value depends only on closed bars up to and including its own bar. - Recomputes the full visible history from bar 0 on every call rather than incrementally updating from prev_calculated, because the three chained EMA recursions all depend on their entire prior history; this is deliberate, matching the other chained-EMA indicators in this catalogue. - Needs roughly 3 * InpPeriod bars of history before the triple-smoothed line has genuinely settled - early bars are technically plotted but are not yet a reliable reading; feed it a chart with ample history. - The very first (oldest) bar in the loaded history has no prior triple-smoothed value to rate-of-change against, so TRIX for that bar is defined as 0.0 rather than left undefined.

Indicator · MT4 · v1.0 · Free

Tags: Moving Average · Buy/Sell Arrows · Trend · MT4 Indicator · MQL4 Source Code

MetaTrader 4 & 5 indicators · PolyMaria