Theory:
The TriX oscillator is a popular trending indicator that comes built into MetaTrader 5. This version adds a twist by incorporating pivot calculations directly from the TriX itself.
You can choose from four different display options for the pivots:
- Display pivot only
- Display pivot with first level support and resistance
- Display pivot with first and second level support and resistance
- Display pivot with first, second, and third level support and resistance
The selected time frame is crucial as it serves as the "delimiter" for the pivot calculations. Meanwhile, the TriX is always calculated based on the current time frame.
Usage:
You can utilize the indicator as recommended for the TriX, leveraging its unique features to enhance your trading strategy.
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