// Best used as an exit indicator at default settings. // Also doing well in entering positions by using TEMA(14) for REX and SMA(14) as signal. // You need to tune it yourself according to your trading style. // Use at your own risk. // // Vitelot/Yanez/Vts Oct 2019 //
Informacje o Wersji
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// Oct 2019: added zero line; // also added OS/OB lines based on stddev, though commented out at the moment so to not overload the graph.
sir, can i use this on lower tf? like 5 mins or 15 mins? if its ok, what is the best settings for an exit indicator?
mscarborough
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This is the exit indicator I use for NNFX and so far I am happy with the exit signals I get. For the most part I don't have that feeling that I am leaving money on the table with early exits. I strongly recommend tuning and occassionally re-tuning the indicator for the specific market instruments you are trading. My next project is to see if I can somehow make REX adjust itself based on current ATR.
snoepws
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This is great. Thanks... Is it possible to add smoothing to the faster line?
taariqparker1
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@snoepws, try using Heiken Ashi candles, it smooths it out a whole lot
View4U
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Both set to Tenkan (14), Rex may very well be the very BEST indicator (MACD also !) that I have ever come across. I'm using trend lines derived from MACD - EXCELLENT.
vitelot
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@View4U, Thanks. Have also a look at the Relative Vigor Index (TV library), period 21, then let's discuss which one is the best ;)
View4U
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@vitelot,
RVI(21) gives context to REX(tekan-14). For either you can determine PRE or POST breakouts. For me it's MACD first, though !
YOU ARE DEFINITELY AN EXPERT !
ratusz09
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@vitelot, @View4U on daily charts RVI (14) works way better then (21) ;)
tongvu
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i change it 17 candle. It look good
ralphclementlie
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Hi Vitelot,
Thank you for this indicator. Could you add a zero line to it?