# REX by vitelot

Dilihat 2339 kali
2339
// 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
//
Oct 28
Catatan Pelepasan: // 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.
This is great. Thanks... Is it possible to add smoothing to the faster line?
Balas
hi,
Thanks
Balas
Hey, if this is a port of the original MQ4 script then i think you may have a couple of bugs (features ;) ) 1/ your tvb needs the B in BODMAS and should be 3*close-(open-high-close) 2/ rex to be divided by the point value
Balas
causecelebre
@causecelebre, Actually don't mind me. Your script is fine. the point division is mostly redundant and your calc of Rex is correct, just performed slightly differently
Balas
causecelebre
The TVB is meant to deliver zero whenever close=open=high=low and this is the reason for the 3 multiplying the closing price and the sign of all coefficients.
The formula you suggested, i.e., 3*close-(open-high-close) does something completely different, not even slightly different :)
You might play with the coefficients a bit, e.g. by giving more importance to the opening price by using 4*close-2*open-high-low (try it), but the coefficients have to sum up to zero.
Another pretty modification would be dividing TVB by the ATR and multiply by 100 to have an OS/OB oscillator.
Dividing by the point value is pointless (sorry for the play on words...) unless you hate long decimals.
Balas
vitelot
@vitelot, totally agree. my TVB was meant to be 3*close-(open+high+low). I don't know why the typo were there
Balas
Hi Vitelot,

Thank you for this indicator. Could you add a zero line to it?
Balas
ralphclementlie
Balas
vitelot
@vitelot, Thanks!
Balas