cheatcountry

Rex Oscillator [CC]

The Rex Oscillator measures market behavior based on the relationship of the close to the open, high and low values of the same bar. A big difference between the high and close on a bar indicates weakness, and wide disparity between the low and close indicates strength. The difference between open and close also indicates market performance. Buy when the indicator is green and sell when it turns red.

Let me know if you would like me to publish other scripts or if you want something custom done!
Release Notes: allowed user to change signal length
Release Notes: changed bar color to match indicator
Release Notes: updated to make it a histogram chart
Release Notes: fixed issue with default resolution
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Comments

huge respect for your work, please provide the PayPal or other links for people. your work shouldn't go unrewarded. thanks again.
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cheatcountry StillAlive
@StillAlive, I'm trying the free premium trial right now but it doesn't let me put my paypal link until I start the paid trial I can't put it on my profile. It is https://www.paypal.me/cheatcountry if anyone is interested
+1 Reply
Do you have any strategy in mind?
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@Jittra, The one I have in my script is buy when the rex oscillator goes above its signal and sell when it falls below its signal
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dhman2012 cheatcountry
@cheatcountry, I think Rex is best when used as an exit indicator. It doesn't really do that well as an entry indicator ... in my experience
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cheatcountry dhman2012
@dhman2012, I think you are probably right. I'm experimenting with different ways to achieve clearer signals with this indicator but who knows if that will work
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