Sc MTF Relative Vigor Index RVI MT4

What is the Relative Vigor Index (RVI)?

The Relative Vigor Index (RVI) is a momentum oscillator developed by John Ehlers that measures the conviction of a recent price move by comparing the closing price relative to the open, normalized by the trading range. The underlying principle is that in a bullish market, closing prices tend to be higher than opening prices, while in a bearish market, the opposite holds true.

The RVI oscillates around a zero line — positive values indicate bullish momentum, while negative values indicate bearish momentum. The indicator consists of two lines: the Main line (RVI value) and the Signal line (a 4-bar symmetrically weighted moving average of the Main line). Crossovers between the two lines are commonly used as entry and exit signals.

Features:

• Dual-line RVI (Main and Signal) with zero-level reference system
• Visual signal markers (arrows, vertical lines) with three independent configurable signal buffers
• Advanced signal detection: direction change, line cross, level cross, peak/valley for both lines
• Configurable alert functions (email, push, sound, popup) with time range filtering
• Multi-timeframe (MTF) with interpolation, multiple color modes, and iCustom buffer access for EA integration

Input Parameters:

• Basic Settings:
  • RVI parameters: Period (default: 30).
  • Bar shift: Shift the indicator values by a specified number of bars.
  • Multi-timeframe: RVI timeframe selection, MTF on higher TF only, and MTF interpolation mode.
  • Performance: Maximum bars to calculate. Label display in the indicator window.
• Levels Settings:
  • Level configuration: Toggle visibility, set zero level value (default: 0).
  • Level appearance: Customize color, style, and width.
• Signal Settings:
  • Signal triggers: Configure 3 independent signals with detection types (direction change, line cross, level crossings, peak/valley).
  • Visual markers: Arrows and vertical lines with customizable size, style, position, Wingdings codes, and colors.
• Alert Settings:
  • Alert configuration: Timing (Off/After close/Before close/Both), interval limit, time range filter.
  • Delivery methods: Email, push notification, popup, sound with file selection.
• Color and Style Settings:
  • Color modes: Simple, Cross variations, Direction, Direction with level, Level-based (multiple modes).
  • Display options: Histogram mode for Main and Signal lines, line appearance customization (4 colors, style, width for both lines).