the base indicator loooks an awful lot like RVI (it's been modified BTW)

ionone wrote: the base indicator loooks an awful lot like RVI (it's been modified BTW)

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ionone wrote: Thu Jan 15, 2026 2:50 am the base indicator loooks an awful lot like RVI (it's been modified BTW)
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"It might look like RVI at first glance, but the logic and mathematics behind it are completely different. This tool is my own modification of Larry Williams' concept (LWPI) – it measures the statistical deviation of price from its fair value rather than simple momentum. RVI will never 'clamp' the line to the edge or keep it flat during a strong price rally; here, the Clamping & Flattening function is key to filtering out market noise.

The signals are also structured differently because the system is based on Action-Reaction logic. The arrows always alternate (Buy -> Sell), which eliminates clutter on the chart during strong trends. Just a tip from me – if you crank up the parameters significantly, you'll see those arrows hitting bullseye targets, as the indicator starts catching only the most extreme reversal points. Throw it on a chart next to RVI, and you'll quickly spot the difference in price reaction. Good luck!"

PTR777 wrote: Thu Jan 15, 2026 2:02 am Who mentioned MS paint?

HAHA

88FX88 wrote: Thu Jan 15, 2026 5:04 am "It might look like RVI at first glance, but the logic and mathematics behind it are completely different. This tool is my own modification of Larry Williams' concept (LWPI) – it measures the statistical deviation of price from its fair value rather than simple momentum. RVI will never 'clamp' the line to the edge or keep it flat during a strong price rally; here, the Clamping & Flattening function is key to filtering out market noise.

The signals are also structured differently because the system is based on Action-Reaction logic. The arrows always alternate (Buy -> Sell), which eliminates clutter on the chart during strong trends. Just a tip from me – if you crank up the parameters significantly, you'll see those arrows hitting bullseye targets, as the indicator starts catching only the most extreme reversal points. Throw it on a chart next to RVI, and you'll quickly spot the difference in price reaction. Good luck!"

oh yeah I don't mean it's the same by any means, it just similar in computation (but just for the base signal)
thanks for the explanation !

I think the 500.0000 is the normalization lookback period - if it is it will repaint the last 500 bars constantly - that's maybe why the arrows and entry not in the same spot

It also must be using some kind of reverse smoothing to get the clamping effect

My indi below not exactly the same but similar is some way

or its a grail