TRiX Candles with Keltner Channels - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The indicator uses 4 TRiX (Triple Exponential Moving Average Oscillator) values: the open, close, high and low of the candles constructed for this indicator. This produces fairly smooth results (not surprising since TRix itself is smooth), which seems to work for trading. To further aid trend estimation, an additional Keltner channel (calculated based on TRiX candles, not the ticker price) is calculated and plotted on the same chart.
You can use color changes as signals, and you can use Keltner channel values to filter out some false signals.
Attachment download
📎 trix_candles_with_keltner_channel.mq5 (12.87 KB)
Source: MQL5 #23096
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