Download MetaTrader 5

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

2011.10.25 17:07
Indicators

XRVI - indicator for MetaTrader 5

| English Русский 中文 Español Deutsch 日本語 Português

Views:
3290
Rating:
votes: 11
xrvi.mq5 (9.13 KB)view
\MQL5\Include\

Relative Vigor Index (RVI) calculation is based on the idea that close prices are usually higher than the open ones during an uptrend.

The reverse situation is true in case of a downtrend. The price change is divided to the maximum prices range within one bar to normalize the index:

RVI = (CLOSE - OPEN) / (HIGH - LOW)

where:
  • OPEN - open price;
  • HIGH - highest price;
  • LOW - lowest price;
  • CLOSE - close price.

The oscillator is smoothed to exclude occasional price fluctuations. The signal line is generated the same way. The main advantage of this variant of the well-known indicator is the possibility to change RVI and the signal line smoothing algorithms by selecting an appropriate one out of ten algorithms present:

  1. SMA - simple moving average;
  2. EMA - exponential moving average;
  3. SMMA - smoothed moving average;
  4. LWMA - linear weighted moving average;
  5. JJMA - JMA adaptive average;
  6. JurX - ultralinear smoothing;
  7. ParMA - parabolic smoothing;
  8. T3 - Tillson's multiple exponential smoothing;
  9. VIDYA - smoothing with the use of Tushar Chande's algorithm;
  10. AMA - smoothing with the use of Perry Kaufman's algorithm.

It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.

  • For JMA it is an external Phase variable changing from -100 to +100.
  • For T3 it is a smoothing ratio multiplied by 100 for better visualization;
  • For VIDYA it is a CMO period, for AMA it is a slow EMA period;
  • For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

XRVI indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/506

ExCandles2 ExCandles2

ExCandles-v2 indicator shows candlesticks combinations on a chart using the arrows.

iTrend iTrend

Combined power and trend direction indicator.

PowerTrend PowerTrend

This indicator determines trend power and direction.

XMACD XMACD

Standard colored MACD histogram allowing to select smoothing algorithms from ten possible variants and containing alerts.