Description
The TRIX (standing for Triple Exponential) study is a momentum oscillator based on average of logarithm of price. Its calculation involves consequent application of three EMAs to the logarithm of price. The final result is the averaged logarithm minus its value calculated for the previous bar; the difference is also multiplied by 10000 for convenience.
It is considered a Buy signal when the study changes its direction from falling to rising; the opposite situation might indicate a Sell signal. The main plot is also accompanied with Signal plot which is the EMA of TRIX.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of bars used in calculation of EMAs. |
color norm length
|
The number of bars used in coloring algorithm (see the AssignNormGradientColor article for details). |
price
|
The price used to calculate TRIX. |
signal length
|
The number of bars used in calculation of Signal plot. |
Plots
| Plot | Description |
|---|---|
TRIX
|
The TRIX plot. |
Signal
|
The EMA of TRIX. |
ZeroLine
|
The zero level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.