The THV trix comprises of two multi-colored triple exponential moving averages (trix). A full explanation and free version of this indicator can be found on the cobraforex thv thread at forex factory here
The pipware version of the trix has been completely rewritten to reduce computer processor loading ie has better performance. Multi-timeframe lamps are included as part of the pipware dashboard.
The thv method rules for trading the trix are simply to trade long when both trix have a positive slope (green) and the fast trix (thinner) is above the slow trix (thicker) . A stronger buy signal is when the slow trix is above the zero (center) line. Conversely a short (sell) signal is given when both trix have a negative slope (red) and the fast trix (thinner) is below the slow trix (thicker) . A stronger sell signal is when the slow trix is below the zero (center) line.
The pipware version of the trix includes a histogram setting to give a MACD style for the trix. Due to limitations within the metatrader programming language it is not possible to have the slow and fast trix multi-colored while the histogram is enabled. You can change coloring for each scenario as follows ...
Without histogram, colors 0-2 are for the slow trix and settings 3-5 are for the fast trix. Width and style are also adjustable here.
Metatrader only allows a maximum of eight colors so when the histogram is enabled things get a little interesting. Colors 0 and 3 are used for the below zero portion of the histogram. Colors 1 and 4 are used for the above zero portion of the histogram. Color 6 is the slow trix and color 7 is the fast trix.
Colors 2 and 5 are not used. Why aren't they used to make the trix multi-colored? Multi-coloring requires three colors per trix so 2,5,6,7 are not enough to color two trix ie six colors are required.