The Trix Four Colors indicator is a specialized algorithm for the MT5 trading platform. Using the described algorithm, you can quickly assess the situation on the chart of the selected asset and identify the optimal moments for creating successful positions. As the name suggests, this algorithm is an improved version of the time-tested Trix tool. Its key difference is that it displays bars in four colors, which allows you to more accurately identify the moments to enter the market and close trades.
Signals of the algorithm under consideration are displayed in the window below the price level. They are extremely simple and intuitive, thanks to which this technical tool can be safely recommended not only to experienced speculators, but also to beginners who are just getting acquainted with the foreign exchange market. The Trix Four Colors indicator has a fairly high level of versatility, since the signals it generates retain an acceptable level of accuracy on almost any time interval and currency pair. To download the Trix Four Colors indicator, use the link that you can see below.
Trix Four Colors indicator. Optimization
The installation procedure for the described algorithm is elementary. You do not need any special skills or experience to complete this task. After starting the considered algorithm, a window with its parameters will appear in front of you.
The considered algorithm has the following parameters:
- “Trix-averaging-period”. This parameter is responsible for the period of the described algorithm. It is recommended to select a value for this field depending on what time interval you plan to use for trading.
- “Trix-type-of-price”. In this field, you can select the type of price level that the described algorithm will use to perform all the necessary calculations.
Due to the fact that the described algorithm has only two adjustable parameters that affect the peculiarities of its functioning, not only a speculator with a certain trading experience, but also an inexperienced beginner can handle the optimization procedure.
It is extremely simple to use the described algorithm to make money on the foreign exchange market. You need to transfer the Trix Four Colors indicator to the chart of the asset you have chosen for trading and perform the optimization procedure. Then you should wait for the next signal to appear and create a position in the desired direction.
As soon as the bars of the described algorithm cross the zero line and change their color from orange to yellow, you should create a buy position. The buy order you have opened should be promptly closed after the shade of the bars changes from yellow to red.
At the moment when the bars of the considered algorithm from below cross the zero mark and change their color from red to blue, you should create a buy position. It is recommended to close the buy order you created after the shade of the bars of the described algorithm changes from blue to orange.
Combining the described algorithm with additional technical tools that act as a filter will significantly increase your chances of earning income. To learn how to correctly optimize and apply the described algorithm, use a demo account. You can start trading for real money only after gaining experience.