TRIX with Moving Average

Updated version of the Trix to include crossover on the background.

Length: Length of the Trix
Use Ema: True will use an ema , false will use an SMA .
Moving Average: Moving Average used on the TRIX Value.
Histogram Multiplier: Exaggerate the difference between the TRIX and Moving Average.
Remove from Favorite Scripts Add to Favorite Scripts
study("TRIX Moving Average v2", shorttitle="TRIX MA")
//  Trix with a EMA or SMA. 
//  @author munkeefonix
//  inputs:
//  Length: Length of the Trix
//  Use Ema: Use an ema or sma.
//  Moving Average: Moving Average used on the TRIX Value.
//  Histogram Multiplier: Exaggerate the difference between the TRIX and Moving Average.

_length=input(15, title="TRIX Length", minval=1)
_useEma=input(true, type=bool, title="Use Ema")
_ma=input(9, title="Moving Average", minval=1)
_mult=input(2.0, type=float, minval=1, title="Histogram Multiplier")
_filter=input(0.0, type=float, minval=0.0, title="Near Zero Filter")

tema(a, b)=>ema(ema(ema(a, b), b), b)
trix(a)=>((a-a[1]) / a[1]) * 10000

_trix=trix(tema(close, _length))
_trixs=_useEma ? ema(_trix, _ma) : sma(_trix, _ma)

bgcolor(_trixh[1] >= 0 and _trixh[0] < 0 ? red : _trixh[1] <= 0 and _trixh[0] > 0 ? blue : na)

hline(0, color=#000000, title="Zero Line")

plot(_trixh * _mult, color=#000000, style=area, transp=80, title="Histogram")
plot(_trix, color=#FFCC00, title="TRIX")
plot(_trixs, color=#CC0000, title="TRIX Moving Average")

plot(cross(_trix, _trixs) ? _trix : na, color=white, style=cross, linewidth=2, title="TRIX Moving Average")

Thanks again. The reason why I asked for the background color alert is because now I can add that alert in the background to the main chart, when I turn all other options off. See my example here:

ChartArt ChartArt
There are some interesting results, when you change the TRIX length to 100 or 200 in the daily chart and then zoom out to years:

TRIX 100

TRIX 200
munkeefonix ChartArt
I haven't really relied on the cross over much since it often times seemed to be a bit slow for how I tend to trade. I added an example of where I've used TRIX and how it factored in. The way I've used it does give some false signals, especially around the zero line. So I'll use fib levels, rough Elliot Wave count, harmonic pattern, or a coin flip to figure it out.

ChartArt munkeefonix
Yes, the indicator with the settings you provided is way too slow. That is why I experimented with other settings.
munkeefonix ChartArt
When I get a chance I'll do a bit of experimenting and see if I can get a quicker signal out of it. I'll probably create another variation of the TRIX to combine a couple of the signals from here:

Might give some more reliable results.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out