Range Expansion Index

mntiwana

Active Trader
Oct 21, 2014
12
7
39
"rsx range expansion index - cb"
An extended & different variation of REI - now on RSX (a smoothed variation of rsi) with CB (confidence bands) included
as per Mladen's saying
"This ver is made according to Mark Jurik's idea,according to him,REI can be made as rsx(high) + rsx(low) - and results will be much smoother,so this version is doing exactly that
in this version color changes change as potential trend start and end signals
CB
this version is adding a bit modified confidence bands in order to make the trend change spotter easier,one parameter needs explanation (shift) - it is number of bars the band is shifted in order to provide useable crosses of REI value and confidence bands,without it the result would be illogical and that is the reason why the indicator limits the minimal shift to + 1,the greater the shift,the more the bands are shifted but some experimenting is recommended (mild shifting is producing quite good results)"

range extended to -100 to 100 now
3 state coloring option - on slope,on outer level cross and or middle level cross,a kind of zero line
main line color/width selectable
shadow color/width option up to users defined

EURUSDM5.png
EURUSDM15-zero cross.png
p.png
 

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