Theory :

TRIX (triple exponential average (TRIX) indicator is an oscillator used to identify oversold and overbought markets, and it can also be used as a momentum indicator.  It is using EMA for calculation

This version :

Is using the "Double smoothed Wilder's EMA" variation instead of using "regular" EMA for TRIX calculation. That makes it faster in response to market changes than the original TRIX indicator

Usage :

You can use this version the usual way - change of color can be used as a signal