Triple Exponential Average indicator
The basis of TRIX indicator is triple Exponential Moving Average (EMA). But unlike classic EMA, TRIX is less sensitive to price changes producing thus fewer false signals. You can use it as state indicator and signal indicator.
State indicator. "Triple" means that triple smoothing is used to eliminate cyclic components in price movements. Positive and negative areas are used as an indicator of the state of overbought or oversold.
Signal indicator. In case line of the indicator, crosses zero line over below it is a signal to buy. If it crosses zero line over above it is a signal to sel.
Also, divergences between price and TRIX can indicate significant turning points on the market.