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RAVI iFish:
Range Action Verification Index (RAVI) with inverse Fisher transform.
Developed by Tushar Chande, the Range Action Verification Index (RAVI) is used in order to help identify if the market is in a trend. The indicator shows the difference (in percentage) between the current prices and the past prices. Two key lines are recommended by Chande for the RAVI – 3% or 1% in dependence on the market.
This version has an additional inverse Fisher transform applied to the RAVI in order to emphasize the RAVI values and to make the detection of trend change and exhaustion easier.
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Author: Mladen Rakic