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BeST Chande RAVI
RAVI = Absolute value (100 x (SMA(7) – SMA(65))
By default there is an arbitrary reference level of 3% that means a market is ranging if the RAVI is less than 3%, or trending strongly if it is is greater than 3%
(see about “Beyond Technical Analysis. How to Develop and Implement a Winning Trading System” by T.Chande).
This choice of MAs lengths is also purely arbitrary and we can try any other LB Periods depending the FX pair and mainly the timeframe used. The same applies to the reference level of 3% we can use.
- Fast MA Settings (LB_Period,Method and Price)
- Slow MA Settings (LB_Period,Method and Price)
- Percentage (%) Level for Filtering Trend (by default 3%) - for selecting the reference % Level
Alert Settings - for controlling the use of all MT4 Alerts used when RAVI breaks up the reference level.