TRIX
Definition
The Triple Exponential Average (TRIX) indicator is used in technical analysis as a momentum oscillator. It is comprised of the rate of change of a triple exponentially smoothed moving average. The key signals generated by TRIX are divergences and signal line crossovers.
TRIX was introduced in the early 1980's by Jack Hutson who was an editor for Technical Analysis of Stocks and Commodities magazine.
TRIX can typically be interpreted that when the value is positive, momentum is up and when the value is negative, momentum is down. Something to keep in mind however, is that as with any indicator comprised of moving averages, there is lag inherently built into the indicator. It may also be noticed that TRIX is very similar to another technical analysis tool, the MACD, however the TRIX has a line that is much smoother.
When applied to a chart, this indicator contains two plots, displayed in a separate subchart from the main data series.
Default Inputs
Price sets the price used for calculation, close by default.
Length sets the number of bars used for calculation, 9 by default.
ColorNomLength sets the number of bars used in the coloring algorithm, 14 by default.
UpColor sets the color for indicator values that are relatively high over ColorNormLength bars, yellow by default. Set to -1 to disable gradient color plotting.
DnColor sets the color for indicator values that are relatively low over ColorNormLength bars, red by default. Set to -1 to disable gradient color plotting.
GridForegroundColor sets the color for numbers in Scanner cells when both UpColor and DnColor are set to positive values, black by default.