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Views:: 10487
Rating:: (15)
Published:: 2019.02.04 17:02
Updated:: 2019.02.04 17:03

TRiX slope divergence (mtf).mq5 (36.58 KB) view

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Theory:

Developed by Jack Hutson in the early 1980s, the Triple Exponential Average (TRiX) is a momentum indicator used by technical traders that shows the percentage change in a triple exponentially smoothed moving average. It is highly responsive to price changes and that makes it hard to be used in a "classical" way to detect divergence. But using slope divergence instead seems to be OK. So, here is the version that is doing that. Also, this version is already multi time frame

Usage :

Any way how divergence is used in trading - the channel will change the color of the middle line in any moment when the slopes of the on-chart channel and on-indicator channel are not pointing in the same direction

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TRiX slope divergence - indicator for MetaTrader 5