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RVR Strategy

This indicator is part of a secret strategy due to its efficiency. I have no idea who created it, but I hope the creator is not upset by its disclosure. Peace!

RVR indicator is based on the calculation of the RSI volatility ratio, and in addition to the RVR indicator which is (optionally) shown in a separate window, support/resistance lines will be plotted on the main graph.



How to configure:

The setup is simple and intuitive. When adding the indicator to your graph, the initial configuration screen is displayed, and it is already configured for the 5 minute timeframe. If using timeframes longer than 5 minutes, change the speed to 0.7. You can choose to view the indicator, otherwise, only the support and resistance lines will be plotted.



Interpretation:

Let's say the RVR has just changed color, from green to red. A small support line will be plotted just below the minimum of the candle, but it may not yet be in its final position, since the candle has not closed. Then, you must wait for the closing of this candle to make the decision based on the support line now drawn. The opposite occurs when the indicator changes from red to green, in which case a resistance line will be plotted. Use the indicator a few days for more accurate observation or look at the attached images.
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