OPEN-SOURCE SCRIPT
Updated MrRexo Setup v0.3.9
# MrRexo Setup v0.3.9
MrRexo Setup is a technical structure indicator designed to combine higher-timeframe bias, market structure, price gaps, fair value gaps, and band-based entry signals in one chart overlay.
The indicator is built for a dark, technical chart style and is intended to help traders read directional context, important previous-period levels, and potential liquidity or imbalance zones without switching between multiple tools.
## Main Features
- Daily, weekly, and monthly bias panel with compact directional arrows.
- Previous day, week, and month high/low levels: PDH, PDL, PWH, PWL, PMH, and PML.
- Break of Structure detection with BOS labels placed directly on structure lines.
- Fair Value Gap detection with configurable minimum size, colors, labels, and expiration.
- Price GAP detection with configurable minimum size, labels, expiration, and automatic partial consumption as price fills the gap.
- Distance and estimated closure probability for the nearest FVG and GAP in both directions.
- Fast and slow high/low moving average bands based on EMA, SMA, SMMA, or WMA.
- Optional entry signal labels based on band-cross and return-to-band conditions.
- Fully configurable colors for lines, boxes, labels, panel text, and backgrounds.
## Default Logic
The default setup uses 33/144 moving average bands and WMA for the band calculations. GAP detection starts from 150 ticks, while FVG detection starts from 80 ticks. GAP and FVG zones are extended to the right by default and expire after 14 days unless changed in the settings.
Entry signals are not restricted by trading session hours. They can appear at any time, while still respecting the configured spacing between signals, trend filter, consolidation filter, and enabled signal type.
## Notes
This indicator is not a strategy and does not place trades. It is a chart-analysis tool designed to support discretionary decision-making. All probability values are heuristic estimates based on distance and age of the zone, not statistical guarantees.
Use it together with your own market context, risk management, and trade validation process.
MrRexo Setup is a technical structure indicator designed to combine higher-timeframe bias, market structure, price gaps, fair value gaps, and band-based entry signals in one chart overlay.
The indicator is built for a dark, technical chart style and is intended to help traders read directional context, important previous-period levels, and potential liquidity or imbalance zones without switching between multiple tools.
## Main Features
- Daily, weekly, and monthly bias panel with compact directional arrows.
- Previous day, week, and month high/low levels: PDH, PDL, PWH, PWL, PMH, and PML.
- Break of Structure detection with BOS labels placed directly on structure lines.
- Fair Value Gap detection with configurable minimum size, colors, labels, and expiration.
- Price GAP detection with configurable minimum size, labels, expiration, and automatic partial consumption as price fills the gap.
- Distance and estimated closure probability for the nearest FVG and GAP in both directions.
- Fast and slow high/low moving average bands based on EMA, SMA, SMMA, or WMA.
- Optional entry signal labels based on band-cross and return-to-band conditions.
- Fully configurable colors for lines, boxes, labels, panel text, and backgrounds.
## Default Logic
The default setup uses 33/144 moving average bands and WMA for the band calculations. GAP detection starts from 150 ticks, while FVG detection starts from 80 ticks. GAP and FVG zones are extended to the right by default and expire after 14 days unless changed in the settings.
Entry signals are not restricted by trading session hours. They can appear at any time, while still respecting the configured spacing between signals, trend filter, consolidation filter, and enabled signal type.
## Notes
This indicator is not a strategy and does not place trades. It is a chart-analysis tool designed to support discretionary decision-making. All probability values are heuristic estimates based on distance and age of the zone, not statistical guarantees.
Use it together with your own market context, risk management, and trade validation process.
Release Notes
v0.4.8Added all-time high level with configurable line and label.
Improved entry markers with compact L/S labels, vertical signal lines, tooltips, and configurable label placement.
Added FVG/GAP expiration and gap consumption behavior.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.