Trix Candles with Keltner Channel Indicator
Platform: MT5 Type: Trend Last update: September 22, 2024The Trix Candles with Keltner Channel Indicator is, as the name suggests, a combination of Trix Candles and Keltner Channel. It uses the 4 Trix (Triple Exponential Moving Averages Oscillator) with values of open, close, high, and low to construct candles of this indicator.
That forex indicator provides quite smooth results (which is not a surprise since the Trix itself is pretty smooth) that seem to be usable in trading. To further help in trend estimation, an additional Keltner channel (calculated from Trix candles, not from symbol prices) is calculated and drawn on the same chart.
Example trade with the Trix Candles with Keltner Channel Indicator
Below is the screenshot of an example trade with the Trix Candles with Keltner Channel Indicator.
The best signals provided by the Trix Candles with Keltner Channel Indicator occur when Trix Candles exceed the bands of the Keltner Channel. As you can see in the above screenshot, the candles went outside the Kelter Channel to the bottom and then, the price dropped significantly.
