Rex Oscillator Uses True Value of Bar for Reversal Warnings
Summary
The Rex indicator derives a True Value of Bar (TVB) series from each bar’s close, low, open, and high, then smooths that series to form the Rex line. A second moving average of the Rex line creates a signal line. Users can configure the period and moving-average method for each line.
The description interprets a positive Rex reading during a bearish market as a possible upward reversal, and a negative reading during a bullish market as a possible downward reversal. The Rex and signal lines are also presented as warning signals. These are qualitative interpretations only: the document provides no entry or exit rules, tests, performance results, or guidance on choosing parameters, so the indicator alone does not establish that a reversal will occur.
Key ideas
- TVB combines the close with the low, open, and high to represent a bar-level value.
- The Rex line is a moving average of TVB, and the signal line is a moving average of Rex.
- A positive Rex reading during a bearish market is described as a possible upward reversal.
- A negative Rex reading during a bullish market is described as a possible downward reversal.
- The document presents the lines as warnings but supplies no validation or parameter-selection guidance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.