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Rating:: (25)
Published:: 2014.07.08 11:15
Updated:: 2016.11.22 07:32

rviwithflat.mq5 (8.76 KB) view

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Relative Vigor Index with the market flat state detection option.

If the market is flat, the colored indicator cloud shrinks and is located in the 0 position, and a thick blue line appears. The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:

input uint flat=100; // flat value in points

Figure 1. Indicator RVIWithFlat

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/11264

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RVIWithFlat - indicator for MetaTrader 5