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Triple Exponential Average (TRIX)
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Triple Exponential Average (TRIX) is a histogram-type oscillator that quantifies the current market momentum. TRIX is calculated as a moving average that has been smoothed three times with an Exponential Moving Average (EMA). TRIX oscillates above or below the zero line where the extreme values can indicate corresponding overbought and oversold areas. Additionally, TRIX crossing above or below the zero line can give buying or selling signals respectively.
TRIX = (EMA3(i) - EMA3(i-1)) / EMA3(i-1)
EMA3(i) = EMA [EMA2(i) (EMA1(i))]
where:
EMA – Exponential Moving Average
i – the current price
INPUTS
Input | Description |
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Length | The number of bars used to calculate the exponential moving average |
Price |
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The following data sources are available for the price:
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PLOTS
The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.
Plot | Description |
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TRIX | The Triple Exponential Average plot |
Zero | The zero level |
Color |
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Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color. To create a custom color:
The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette. |
Weight |
Change the value (in px) to adjust the thickness of the plot. |
Type |
The following plot types are available:
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OVERLAYING
Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.