The oscillator Rex line becoming positive on the bearish market indicates the up-reversal.
Similarly, the negative value of the line on the bullish market indicates its down-reversal.
Moreover, the oscillator Rex and Signal lines can be used as warning signal.
The indicator has four configured parameters:
Rex period - oscillator line calculation period;
Rex method - oscillator line calculation method;
Signal period - signal line calculation period;
Signal method - signal line calculations method.
Code: Select all
Calculations:
Rex = MA(TVB, Rex period, Rex method)
Signal = MA(Rex, Signal period, Signal method)
where:
TVB = 3*Close - (Low + Open + High)
