Re: MT4 Indicator requests and ideas

19973
kvak wrote: Tue Jan 30, 2024 9:40 am Like this?
Hello dear @kvak. As we know RVI is a very good momentum indicator for Scalping. Since it is using SMA and normal price types, i think this indicator can have a great deal of improvement with using HA type prices and other averages in it's formula. I hope this can catch your interest to make a new version of RVI which the average and price types can be selected. Attached a picture of the formula that is also described here: https://www.investopedia.com/terms/r/re ... _index.asp. Best regards.
Think out of the box!

Re: MT4 Indicator requests and ideas

19974
ixion700 wrote: Wed Jan 31, 2024 6:56 am Hello dear @kvak. As we know RVI is a very good momentum indicator for Scalping. Since it is using SMA and normal price types, i think this indicator can have a great deal of improvement with using HA type prices and other averages in it's formula. I hope this can catch your interest to make a new version of RVI which the average and price types can be selected. Attached a picture of the formula that is also described here: https://www.investopedia.com/terms/r/re ... _index.asp. Best regards.
Try this simple version with smoothing, added also mtf.
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太虚一毫, ixion700, josi, alexm


Re: MT4 Indicator requests and ideas

19980
ixion700 wrote: Wed Jan 31, 2024 5:26 pm Thank you very much, this is way better now, making less false signals. Just to make sure, is the smoothing type used in calculations (inside formula) or is it applied on the outcome of the formula?
In first version have only smoothed outcome value. In this version have smoothing price in calculation and also have menu for price choose. Also signal have menu for original calculation or calculation from moving average.
These users thanked the author kvak for the post (total 6):
太虚一毫, josi, ixion700, Krunal Gajjar, marwilli, alexm