Indicators: Relative Vigor Index (RVI)
Nice. Will surely try this on EA and update.
gurmeetb:
Nice. Will surely try this on EA and update.
Which EA, this topic is about an indicator ? Nice. Will surely try this on EA and update.
angevoyageur:
Which EA, this topic is about an indicator ?
create an EA based on same....
Which EA, this topic is about an indicator ?
gurmeetb:
create an EA based on same....
Ah ok, sorry, misunderstood.
create an EA based on same....
hi,can we add price to rvi ?thank you
sunmetal:
hi,can we add price to rvi ?thank you
It can not (that indicator is using internally all 4 prices, it can not be made to use just one price)
hi,can we add price to rvi ?thank you
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Relative Vigor Index (RVI):
The main point of Relative Vigor Index (RVI) technical indicator is that on the bull market the closing price is, as a rule, higher, than the opening price.
It is the other way round on the bear market. So the idea behind Relative Vigor Index is that the vigor, or energy, of the move is thus established by where the prices end up at the close.
To normalize the index to the daily trading range, divide the change of price by the maximum range of prices for the day. To make a more smooth calculation, one uses Simple Moving Average. 10 is considered the best period. To avoid probable ambiguity one needs to construct a signal line, which is a 4-period symmetrically weighted moving average of Relative Vigor Index values. The concurrence of lines serves as a signal to buy or to sell.
Author: MetaQuotes Software Corp.