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TRIX Arrows is one of the best indicators designed to determine accurate trading signals. The indicator is a modification and improved version of the standard TRIX indicator, also known as the triple exponential moving average. Unlike the previous version, the TRIX Arrows indicator in its window, in addition to the main line, now it also has a signal, after crossing with which, under certain conditions, an arrow is formed indicating the direction of the transaction. The indicator is available for use on any timeframe, with any currency pairs. At the same time, it should be carefully choosing these values.
Input parameters
There are only four parameters in the settings of the TRIX Arrows indicator:
- -EMA period-period of the exponential moving average, that is, the main line of the indicator. The default value is 14.
- -Signal period-value of the period of the signal line of the indicator. The default value is 8.
- -Symbol code Up - arrow symbol characterizing the value up. The default value is 233.
- -Symbol code Down - arrow symbol code with value down. Default is 234.
The indicator settings also contain parameters that are responsible for the color and width of all indicator values, they can be changed at own discretion. Additional levels can be added to the indicator window.
Indicator signals
Due to the fact that the TRIX Arrows indicator grows arrows, it will be very easy to find points for entering trades. That is, on the candle where an arrow with a certain color has formed, a position will have to be opened. Depending on the color of the arrow, the direction of the trade will be determined.
Signals for Buy trades:
- -The signal line of the indicator was below its main line, but on the current bar it changes position and is above the main one.
- - An arrow has formed on the current candle with the value up.
Upon receipt of the above conditions, a long position can be opened. The trade should be closed upon receipt of a reverse signal.
Signals for Sell trades:
- -After finding the signal line above the main one, it falls under the main one.
- -A candle with a value down is formed on a certain bar.
After identifying these conditions, a short position can be opened, which should be closed when receiving a return signal.
Conclusion
The TRIX Arrows trading indicator gives very accurate signals for making trades, due to the absence of lagging signals that are available in almost all indicators that contain moving averages. The profitability of the trade will also depend on the choice of timeframe: it should not chosen too large or too small intervals. And for more successful trading is recommended to choose currency pairs with high volatility.
