The indicator can give reliable overbought and oversold signals, and it plots two exponential moving averages as output, which provides crossover signals that can be used to help time trades.
The Regression Oscillator can be effective for timing re-entries into a trend and seems to be able to avoid some of the false signals of other indicators.
Let me know if you find this useful. Cheers!
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.