The TRIX indicator smooths price data and then looks at the daily (or whatever time frame is being used) percentage movement of that smoothed price data. This filters out much of the price noise that’s seen on the price chart. TRIX will rise on sustained moves higher in price, and will fall on sustained moves lower in price.
Updated version of the Trix to include crossover on the background. Length: Length of the Trix Use Ema: True will use an ema, false will use an SMA. Moving Average: Moving Average used on the TRIX Value. Histogram Multiplier: Exaggerate the difference between the TRIX and Moving Average.
Updated vesion of the script including the crossover in the background can be found here: Trix with a EMA or SMA. Length: Length of the Trix Use Ema: True will use an ema, false will use an SMA. Moving Average: Moving Average used on the TRIX Value. Histogram Multiplier: Exaggerate the difference between the TRIX and Moving Average.
1) Trix Ribbon =============================================================== This was built on request. Many Stock/FX traders overlay multiple Trix lines to form the ribbon, this indicator makes it easy. Also, optionally this can plot a BollingerBand on Trix_1. More info on Trix: stockcharts.com 2) High/Low/Close Trend Indicator ...