Relative Equilibrium Index, REi-an indicator of technical analysis that shows the direction and strength of a trend and indicates the probability of its change. It shows the ratio of the average price increase to the average fall over a certain period of time. The value of the index allows you to assess whether buyers or sellers had a stronger influence on the price over a given period of time and to assume further developments. The indicator is characterized by the simplicity of interpretation and the quality of the signals provided. The entry points that the indicator gives show a good risk-profit ratio in an active market. The indicator line draws technical analysis figures — “head-shoulders”, “double top” and others that are used when making trading decisions.
     Customization:
The indicator does not require complex settings. The only parameter, REi Period, is set to “9” by default, and in most cases this value is effective. However, in certain market phases on some timeframes, other settings may perform better.
     Signals:
* overbought/oversold – when the REi indicator value is above “100” or below “-100”, respectively;
* crossing the zero level line-indicates a change in the trend, if above” 0 “is a bullish trend, if below” 0 ” is a bearish trend;
* divergence / convergence — when the indicator line forms extremes in the direction opposite to the price movement;
* technical analysis figures are applicable to the indicator chart and help predict the beginning and end of a trend with high probability;
* the trend on the indicator usually coincides with the trend on the price chart until any of the above events.
The REi indicator can be used as a filter. You can not buy when the market is already overbought and the indicator line is above the positive limit of the range. You can not sell when the market is already oversold and the indicator line is below the negative limit of the range.

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     https://www.mql5.com/ru/users/meijin/seller

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