The Relative Strength Index technical indicator (RSI) is a price-following oscillator that ranges between 0 and 100. When Wilder introduced the Relative Strength Index, he recommended using a 14-day RSI.. Since then, the 9-day and 25-day Relative Strength Index indicators have also gained popularity.
A popular method of analyzing the RSI is to look for a divergence in which the security is making a new high, but the RSI is failing to surpass its previous high. This divergence is an indication of an impending reversal. When the Relative Strength Index then turns down and falls below its most recent trough, it is said to have completed a "failure swing". The failure swing is considered a confirmation of the impending reversal.
Ways to use Relative Strength Index for chart analysis:
The Relative Strength index is calculated by formula:
RSI = 100 - (100 / (1 + U / D))
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/47
The Price Rate of Change (ROC) reflects this ondulatory movement like an oscillator, measuring the difference in prices in a certain period. ROC grows if prices grow and drops along with them. The more the price change is, the more ROC changes.Price and Volume Trend (PVT)
The Price and Volume Trend Indicator(PVT), like On Balance Volume (OBV), represents the cumulative sum of trade volumes calculated considering close price changes.
The main point of the Relative Vigor Index Indicator (RVI) is that on the bull market the closing price is, as a rule, higher, than the opening price.Standard Deviation (StdDev)
The Standard Deviation (StdDev) measures the market volatility. This indicator charactrizes the scale of price changes relating to the Moving Average.