Colored TRIX

Colored TRIX

Developed by Jack Hutson in the 80's, the Triple Exponential Moving Average (a.k.a. TRIX) is a Momentum technical indicator that shows the percentage of change in a moving average that has been smoothed exponentially 3 times. The smoothing process was put in place in order to filter out price movements that are considered insignificant for the analysis period chosen.

We at Minions Labs found hard to follow the smoothness of the original TRIX line, so we colored the TRIX line with BUY and SELL trend movements.

HOW TO READ THIS INDICATOR

• You can use this oscillator to identify Oversold and Overbought areas.
  
• You can use this indicator to analyze periods where the zero-line is crossed by the TRIX signal.
  
• Some traders prefer TRIX over MACD because of its smoothness.
• Since it is not a leading indicator, the TRIX indicator can be used as a confirmation tool and/or as a trend filtering system.
  

PARAMETERS

• Period of Analysis.
  

As always, if you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)...   

This will mean A LOT to me... And this way I can continue to give away Cool Stuff for Free...

With No Strings Attached!  Ever!

Live Long and Prosper!

;)