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!
@beefsteaks69, The code is listed above and right above the script there is a button for adding this indicator to your favorites. That is what allows you to add this indicator to any of your charts
beefsteaks69
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@cheatcountry, thank you sir for the info, but what I'm using right now is mt4 fbs , and I dont have any idea on how I will transfer this script to my mt4. I tried copying the script to word pad and put it to the mt4 fbs but its not appearing. thank you for your response sir, im actually new to trading and I wanted to Learn more.
StillAlive
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huge respect for your work, please provide the PayPal or other links for people. your work shouldn't go unrewarded. thanks again.
cheatcountry
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@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 paypal.me/cheatcountry if anyone is interested
Jittra
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Do you have any strategy in mind?
cheatcountry
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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
dhman2012
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@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
cheatcountry
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@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