Theory:
TRIX, or Triple Exponential Average, is a powerful oscillator designed to help traders pinpoint oversold and overbought market conditions. It also serves as a momentum indicator, relying on the Exponential Moving Average (EMA) for its calculations.
This Version:
What sets this version apart is its use of the Double Smoothed Wilder's EMA instead of the standard EMA for TRIX calculations. This enhancement allows the indicator to react more swiftly to market fluctuations than the traditional TRIX indicator.
Usage:
Feel free to use this version just like you would the standard TRIX—changes in color can serve as effective trading signals.
Comments 0