# Glossary of Technical Analysis Terms: T

## Description

This article is from the Glossary of
Technical Analysis Terms.

# Glossary of Technical Analysis Terms: T

**Time Cycles**:

Some analysts believe that price analysis alone only offers half
the information needed
for successful trading. The other part is time, more exactly time
cycles, which give actual insight into understanding the movements
of markets. Common cycles are the seasonal cycles apparent in many
commodity markets, but cylces can be detected on intra-day charts
as well.

**Trading Index**:

This index (also kown as the "Arms" index, or "TRIN") measures the
relative strength of volume associated with advancing stocks
against the strength of volume associated with declining
stocks. When used as a short term indicator, readings below 1.0
are considered bullish while readings above 1.0 are considered
bearish. An extreme bearish reading would be 1.5 or higher; an
extreme bullish reading would be .5 and lower. Readings of 2.0 or
.3 would be considered "climactic". For the intermediate term, a
bearish sign is an index over 1.0, bullish under 1.0. For the long
term, the Trading Index can be viewed as an overbought / oversold
indicator.

**Trix**:

Single linear exponential smoothing was developed in the early
1950s as a means of
prediction along a straight line whose slope was based on previous
data. The Triple Exponential Smoothing Oscillator (Trix) has now
been developed to act on trends of a higher order than
linear. Trix uses a one-day momentum of a triple exponential
smoothed price series to produce an indicator which is cycle
dependent. Changes in the Trix direction are less prone to
whipsaws than standard cycle-momentum indicators. The period is
chosen to filter out any insignificant cycles shorter than the
period. Fourier Analysis or visual observation may be used to find
the proper cycle length of a given market. Raising the number of
days will remove more small cycles and smooth out the oscillator,
but at the loss of sensitivity. The more smoothing that is applied
to the data, the more of a lag in the oscillator, but not nearly
the lag of a normal moving average.

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