Uber REX Oscillator [UTS]

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.
When the Rex Oscillator turns positive in a bearish trend, a reversal is indicated. Likewise, Rex turning negative in a bull market indicates a reversal to the downside.


General Usage

The Rex Oscillator is mostly used as a Reversal and Exit indicator.
Signals are created when Rex is crossing the Signal line. They that can be used to EXIT or LONG/SHORT a trade.
It is worth investing the time and fine-tune the settings: e.g. SuperSmoothed 16 and HMA 40 provides decent results.


Moving Averages

16 different Moving Averages are available:

• ALMA (Arnaud Legoux Moving Average)
  
• DEMA (Double Exponential Moving Average)
  
• EMA (Exponential Moving Average)
  
• FRAMA (Fractal Adaptive Moving Average)
  
• HMA (Hull Moving Average)
  
• JURIK (Jurik Moving Average)
  
• KAMA (Kaufman Adaptive Moving Average)
  
• Kijun (Kijun-sen / Tenkan-sen of Ichimoku)
  
• LSMA (Least Square Moving Average)
  
• RMA (Running Moving Average)
  
• SMA (Simple Moving Average)
  
• SuperSmoothed (Super Smoothed Moving Average)
  
• TEMA (Triple Exponential Moving Average)
  
• VWMA (Volume Weighted Moving Average)
  
• WMA (Weighted Moving Average)
  
• ZLEMA (Zero Lag Moving Average)
  

A freely determinable length allows for sensitivity adjustments that fits your own requirements.

Alerts

Traders can easily use the reversal signal to trigger alerts from:

• Cross Up
  
• Cross Down
  

Those values are > zero if a condition is triggered.
Alert condition example: "Cross Up" - "Greater Than" - "0"

Trend Visualization

Optional: If the signal line trend direction is DOWN it is painted red. If the trend direction is UP the signal line is painted in green.

Versionsinformation:

• Reduced line thickness
  
• Added optional zero line