This RVI oscillator analogue is calculated based on four Relative Vigor Index indicators.
All editable variables are implemented as indicator input parameters. However, keep in mind that these variables are interdependent to some extent, so you should adjust them more carefully!
FactorN input variables represent the unit weight of RVI with number N in total indicator value.
Fig.1. The ColorZerolagRVI indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13178
The indicator determines and marks WRB (Wide Range Bars or Wide Range Bodies).ColorZeroLAG_MA_HTF
The ColorZeroLAG_MA indicator with the timeframe selection option available in the input parameters.