Do you think any of from these 4 possibly help you though old enoughfriend4you wrote: Fri Jan 11, 2019 3:33 am Range Action Verification Index - extended (Ravi)
I like this new work of mladens free mq5-indicator to find trending markets. Nothing similar is posted here. Is it possible to get it in mq4 with alert?
mladen:
"Original definition :
The Chande's Range Action Verification Index (RAVI) indicator was developed by Tushar Chande. As the ADX indicator, the RAVI is used to identify whether a market or security is trending. The RAVI indicator is calculated using moving averages of different lengths. The first one is a short moving average with a lookback period of 7 bars. The second one is a long moving average with a lookback period of 65 bars. The indicator returns a percentage value. Above a certain threshold, the market is considered trending.
Interpretation:
The market is considered trending if the RAVI value is above 3%. Otherwise, the market is consolidating
Changes :
Due to its nature, the levels mentioned in the original description are largely arbitrary and in some cases will never be reached (depending on symbol and time frame). This version is using levels that are adjusted to the value and that way it makes the indicator work the same on any symbol and any time frame
Usage :
All the usual : using color changes for trend start and possible re-entries"
Ravi.mq5
Re: MT4 Indicator requests and ideas
5171Indicator is just a tool.
Use it only if it can benefit you. Leave it if you don't know how to use it optimally.
Use it only if it can benefit you. Leave it if you don't know how to use it optimally.