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forex Relative Vigor Index (RVI) – indicator
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.
MT5 Indicators – Download Instructions
Relative Vigor Index (RVI) – indicator for MetaTrader 5 is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Relative Vigor Index (RVI) – indicator for MetaTrader 5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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