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Registered User
Joined: 10/23/2004
Posts: 4
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I'd like to create a TRIX indicator. I read the posting on the XAVG, so that is useful. But I still need the complete syntax for the XAVG. The TRIX requires the EMA of the EMA of the EMA for today and yesterday so I need to know the syntax for a 5 bar EMA for yesterday. Is there a complete list of formulae somewhere? Also, can I use them recursively, so I can create a signal line as the EMA of the TRIX? Or maybe you already have a TRIX in your bag of tricks!
Thanks
Bill
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Bill,
Let me do some research on this for you. I will be back with what I find!
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I did some poking around.
First, let me be sure I understand how the TRIX is calculated. By my research it appears to be the plot of the percent change of an exponential moving average of an exponential moving average of an exponential moving average of price (*whew*).
In TeleChart you can plot moving averages of moving averages. You cannot plot the percent change of the resulting lines, though. It also appears that the formula language for the Custom Indicator does not allow you to do an exponential moving average of a function (another exponential moving average being that function.)
If I, or someone else, come up with a way to do this it will be posted here.
Did I understand your question correctly?
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Bill,
This is very exciting! We just came up with a way to do this!
The Rate of Change indicator returns the percentage difference of another indicator.
I am going to make a quick video on this and it should be up within 24 hours.
- Craig
Here to Help!
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Registered User
Joined: 10/23/2004
Posts: 4
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I looked in a couple of sources on TRIX. An article in TASC Jan 2004 says
Calculate EMA1 as the n-period Exponential MA
Calculate EMA2 as the n-period EMA of EMA1
Calculate EMA3 as the n-period EMA of EMA3
TRIX = (EMA3[today]-EMA3[yesterday])/EMA3[yesterday]
Then you need a signal line, which is the m-period EMA of the TRIX.
Robert Colby's Encyclopedia of indicators has a different take. I can send it to you if you don't have this.
Articles in TASC in Jan and Nov of this year by Jongseon Kim look interesting. He has buy and sell rules for daily, weekly amd monthly charts using TRIX.
By the way, is the language used to define the indicators published anywhere? I spent years programming - not lately - but my company does high tech software development. So if I have a definition of the language I might help add some bandwidth to this dialogue.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is the link to your video
http://www.worden.com/training/default.aspx?g=posts&t=129
Here is a link to a nice article on TRIX
http://www.investopedia.com/articles/technical/02/092402.asp
The language for custom indicators and PCFs are the same. You can find a great article in the help file on the PCF language.
This link MAY work for you (depending on your install of the program). If it does not then go (in TeleChart) to HELP|HELP TOPICS. The tenth topic down is on PCFs.
C:\Program Files\TC2000\TeleChartHelp\TeleChart.htm
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 2
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Stumbled on this by accident while trying to see PW July video on INTC. Supberb work here. You really must publicize these more!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Thanks for the kudos! Be sure to come by often, we are adding videos all the time!
- Craig
Here to Help!
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Registered User
Joined: 2/28/2005
Posts: 825
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Thank You Craig for this great tutorial video on the TRIX. Looks like it's been in here for awhile now, but still served me well. Your video solved my every problem in attempting to find a way to create TRIX.
Thanks Again
Art
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Art,
You should be aware that there are at least three different indicators that go by the name of TRIX.
TRIX I:
1) EMA(1): Calculate the P-period EMA of closing price.
2) EMA(2): Calculate the P-period EMA of EMA(1).
3) EMA(3): Calculate the P-period EMA of EMA(2).
4) TRIX: (EMA(3)[today] - EMA(3)[yesterday]) / EMA(3)[yesterday]
TRIX II:
1) EMA(1): Calculate the P-period EMA of the logarithm of closing price.
2) EMA(2): Calculate the P-period EMA of EMA(1).
3) EMA(3): Calculate the P-period EMA of EMA(2).
4) TRIX: EMA(3)[today] - EMA(3)[yesterday]
TRIX III:
1) EMA(1): Calculate the P-period EMA of closing price.
2) EMA(2): Calculate the P-period EMA of EMA(1).
3) EMA(3): Calculate the P-period EMA of EMA(2).
4) TRIX: EMA(3)[today] - EMA(3)[yesterday]
I do not have access to the original papers, but I believe TRIX I is the original TRIX, the TRIX II is called the New TRIX, and TRIX III originated with Craig in his video.
All three can be plotted in TeleChart and PCFs can be written for each.
Maybe Craig will shed some light on the origin of TRIX III.
Thanks,
Jim Murphy
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Registered User
Joined: 2/28/2005
Posts: 825
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Thanks Jim. And now the question begs an answer. Perhaps someone could write the PCF's for TRIX I & II
thanks again
Great info
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