While the crosses happen in zero line, support of other indicators helps to decide chose the invest position..
I think, the indicator shows good signals 4 hours or upper time frames in Cryptocurrency markets.
And its useful for fx markets.
I must tell an important thing. Reversals should be confirmed with other indicators or price actions.
study(title="REX Oscillator",overlay=false, shorttitle="REX")
len = input(21, "REX Length")
TVB = (3*close) - (low+open+high)
REX = sma(TVB,len)
plot(REX, color = blue, style=area,linewidth = 1,transp=70, title = "REX")
plot(0, color = black, linewidth = 1, title = "REX")