Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal


Inverse Fisher RVI - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português

votes: 15
2018.02.14 07:52

Relative Vigor Index indicator used in technical analysis to measure the conviction of a recent price action and the likelihood that it will continue. The RVI compares the positioning of a security's closing price relative to its price range, and the result is smoothed by calculating an exponential moving average of the values.

The indicator is calculated by using the following formula:

This indicator has an addition of inverse Fisher Transform to the RVI.

The Inverse Fisher Transform normalizes the values in the desired range (-1 to +1 in this case) which helps in assessing the overbought and oversold market conditions.

Fisher RVI Fisher RVI

This indicator has an addition of Fisher Transform to the RVI. The Fisher Transform enables traders to create a nearly Gaussian probability density function by normalizing prices. In essence, the transformation makes peak swings relatively rare events and unambiguously identifies price reversals on a chart. The technical indicator is commonly used by traders looking for extremely timely signals rather than lagging indicators.

Stochastic Extended Stochastic Extended

This version of Stochastic Oscillator allows you to use any of the 4 basic types of averages (default is SMA, but you can use EMA, SMMA or LWMA too) - some are "faster" then the default version (like EMA and LWMA versions) and SMMA is a bit "slower" but this way you can fine tune the "speed" to signals ratio.

Get M1 OHLC data for MetaTrader 4 backtesting Get M1 OHLC data for MetaTrader 4 backtesting

Usually most brokers do not provide M1 data over 3 months in MetaTrader 4, but they provide M1 data over 3 years in MT5. So we can use this tool to obtain the M1 data in MetaTrader 5 tester and save the data into .hst file for MetaTrader 4 backtesting.

Stochastic RVI Stochastic RVI

Stochastic and RVI (Relative Vigor Index) - both indicators measure overbought and oversold area of the market movement. This indicator combines them both in one single indicator - Stochastic of Relative Vigor Index.