Relative Vigor Index

Expand / Collapse
 

Relative Vigor Index


Relative Vigor Index (RVI)


The Relative Vigor Index (RVI) is based on the idea that ascending candles are common for a bull market, and descending candles are common for a bear market. The price change is divided buy the maximum price range of the candle, in order to make the values normalized.

The RVI is calculated as follows:

RVI = (CLOSE - OPEN) / (HIGH - LOW) 

Sometimes the simple moving average (period=10) is used to smooth out the RVI graph. Also, a signal line is used, which is a 4-period exponential moving average of the RSI. When the lines intersect, it is a signal to open a buy or a sell position.






Rate this Download:

Download File


RVI_Indicator.act RVI_Indicator.act (1.71 KB, 837 views)


Comment require login or registration.

Details
Type: SCRIPT

Article has been viewed 3,698 times.

Options