Introduction to the Rex Indicator
Traders often use momentum-based oscillators to identify potential momentum reversals. However, most oscillators do not provide a clear basis for traders to identify a reversal.
The Rex Indicator is a tool which provides clear and objective momentum reversal signals using oscillators.
What is the Rex Indicator?
The Rex Indicator is a momentum following technical indicator which presents momentum indications as an oscillator type of indicator.
This indicator plots two lines. One line is called the Rex Line, which is the jagged line which mimics the movements of price action. The second line is a Signal Line paired with the Rex Line and has a rather smoother characteristic much like a moving average line.
How the Rex Indicator Works?
The Rex Indicator has a complex algorithm which it uses to plot the Rex Line. It does however have some similarities with how a Relative Strength Index (RSI) line is plotted, although they are not exactly the same.
The Signal Line however is just a moving average to the Rex Line. The method used for computing the Signal Line can be changed to various moving average types.
How to use the Rex Indicator for MT5
This indicator has just four settings options which traders can tweak to adjust the sensitivity of the indicator.
“Rex period” refers to the number of periods the indicator uses to compute for the Rex Line.
“Rex Method” on the other hand refers to the computation method used by the indicator to plot the Rex Line.
“Signal period” refers to the number of periods used to compute for the Signal Line.
“Signal method” refers to the moving average type used to compute for the Signal Line.
MT5 Indicators – Download Instructions
Rex Indicator for MT5 is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Rex Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Rex Indicator for MT5.mq5 to your MetaTrader 5 Chart?
- Download Rex Indicator for MT5.mq5
- Copy Rex Indicator for MT5.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Rex Indicator for MT5.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Rex Indicator for MT5.mq4 is available on your Chart
How to remove Rex Indicator for MT5.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Rex Indicator for MT5 (Free Download)
Click here below to download: