What Is the Relative Vigor Index?
The Relative Vigor Index (RVI) is a momentum indicator used in technical analysis that measures the strength of a trend by comparing a security's closing price to its trading range while smoothing the results using a simple moving average (SMA).

The RVI's usefulness is based on the observed tendency for prices to close higher than they open during uptrends, and to close lower than they open in downtrends.

KEY TAKEAWAYS
The Relative Vigor Index (RVI) is a technical momentum indicator.
The RVI oscillates across a pre-determined center line rather than a banded trend.
Divergences between the RVI indicator and price suggest there will be a near-term change in the trend.

What Does the Relative Vigor Index (RVI) Tell You?
The RVI indicator is calculated in a similar fashion to the stochastics oscillator but it compares the close relative to the open rather than comparing the close relative to the low. Traders expect the RVI value to rise as the bullish trend gains momentum because, in this positive setting, a security's closing price tends to be at the top of the range while the open is near the low of the range.

The RVI is interpreted in the same way as many other oscillators, such as moving average convergence-divergence (MACD) or the relative strength index (RSI). While oscillators tend to fluctuate between set levels, they may remain at extreme levels over a prolonged period of time so that interpretation must be undertaken in a broad context to be actionable.

The RVI is instead a centered oscillator and not a banded (trend-following) oscillator, which means that it's typically displayed above or below the price chart, moving around a center line rather than the actual price. It's a good idea to use the RVI indicator in conjunction with other forms of technical analysis in order to find the highest probability outcomes.

kvak wrote: Fri Oct 15, 2021 6:49 pm Hi Mrtools.
It's not nice button as this, but it doesn't have bug when you change timeframe it doesn't jump from off to on and in MTF holds the changed x,y position.
Have a nice weekend

太虚一毫 wrote: Tue May 31, 2022 12:22 am Looking forward to adding averaging methods like ADXVMA, Super Smoother, etc. in the BT version.

Infinite merit!

mrtools wrote: Tue May 31, 2022 12:41 am Looks like something wrong with the indicator, unfortunately I don't have the code anymore to fix it.

太虚一毫 wrote: Tue May 31, 2022 12:46 am Mr. mrtools Hello!
Looking forward to your addition of all averaging methods to Recursive smoothed stochastic mtf BT.mq4.

Infinite merit!

Intrest 1 wrote: Tue May 31, 2022 4:07 am Mladen has a version of rsi_of_rsi.
I would like to know if there is a version of Stochastic_of_stochastic?

mrtools wrote: Sun Oct 08, 2017 10:11 pm Made this version but not sure if this is what your looking for.

mrtools wrote: Tue May 31, 2022 9:13 am Not sure don't think I have heard of one.

Lightningstorm7 wrote: Tue May 31, 2022 10:43 am hello MRTOOLS can you please add Buy SELL alerts to this indicator ?
Stochastic channel.mq4