can I pls request the more experienced one to post their thoughts on each indicator/EAs as they get tested.
Hi again All, I am not sure wether its the right plcae for a request of a new indicator. I tried request new indicator thread but it has been closed by Scorpion. So if anyone knows about this indicator for RVI below, could you pls let us know. Scorpion I am sorry if this request is in the wrong place, please move it if it is. At the same time perhaps you would like to take a look and see if this is anything useful. As usual thanks and really appreciate your time n efforts.
Calculation of the RVI
RVI = (Close-Open) / (High-Low)
OPEN — is the opening price;
HIGH — is the maximum price;
LOW — is the minimum price;
CLOSE — is the closing price
How the RVI is created.
The main point of Relative Vigor Index Technical Indicator (RVI) is that in a bull market the closing price is, as a rule, higher, than the opening price. It is the other way around on the bear market. So the idea behind the Relative Vigor Index is that the vigor, or energy, of the move is thus established by where the price ends up at the close.
To normalize the index to the daily trading range, divide the change of price by the maximum range in price for the day. To make a more smooth calculation, one uses a simple moving average. 10 is the best period.
To avoid probable ambiguity one needs to construct a signal line, which is a 4-period symmetrically weighted moving average of the Relative Vigor Index values.
The concurrence of lines serves as a signal to buy or to sell.
Below is a 1hr chart of the EUR/USD with the default setting of the RVI shown. A red line is drawn which is the signal line. This is a 10 period simple moving average.
A blue RVI line is drawn, which is a 4-period symmetrically weighted moving average of RVI values taken from the calculation.
Each price reflects the consensus of value among the mass of market participants at the moment of the trade. A moving average represents an average consensus of values in a selected period – here a 10 period simple moving average is used for the signal line (Red)
The fast RVI line (Blue) represents the vigor, or energy of the move, which is established by where the prices end up at the close and reflects mass consensus over a short period. The slower signal line (red) reflects mass consensus over a longer period.
When the fast RVI line (Blue) rises above the slow signal line (Red), it shows, that bulls dominate the market, and it is better to trade from the long side. When the fast RVI line (Blue) falls below the slow line (Red), it shows, that bears dominate the market and it pays to trade from the short side.
Crossovers between the RVI and signal lines identify changing market tides. Trading in the direction of a crossover means going with the flow of the market.
thanks a lot
Thanks for the indicators. I've been searching for Accumulation Swing Index indicator. Can't find it in your file and wondering if you have one. It was created by Welles Wilder Jr and I do have the calculations for it but I'm not familiar with MT4 programming. Maybe you or someone can program this and share it to everyone.
Accumulative Swing Index file - ASI in Russian
Accumulative Swing Index - ASI - MQL4 Code Base
richx7/ thanks alot. i was googling and looking for collections of indicators and found this in 5 sec. thank you.
any one familiar with the Has Indicator?
I download the indicators sites and I select ADX Crossing w_Alerts, I would like to do a little modification in this indicator.
I need the Alert to be performed only when MDI cross PDI or the opposite.
Any help in this will be appreciated
With the best regards,
I am new to this site. Would someone please tell me where I can get more Info on the many indicators here? Such as, is indicator A good for all timeframe charts. Is there a page on this site that gives general Info on the many indicators? Thank You
Thanks a lot. I just wonder if I'll lost in indicators.