Relative Vigor Index or RVI indicator. The RVI indicator is calculated using the same system as the Stochastic oscillator*. However, in contrast, it compares the closing level with the opening level, but not with the minimum price for a trade period. As a result, the vigor index represents an actual price change for a period to be regulated for the maximum range of this period, for example, an hour or a day.
* Oscillators (in technical analysis) are a class of technical analysis indices that characterize overbought or oversold market status. They are, as a rule, are efficient when the market is permanent and when the price moves within a comparatively narrow “market corridor”.
Indicator view on the chart.
To add and set up this indicator, open the settings window.
Panel To add and set up this indicator, open
- New panel.
Show value - display of the indicator value on the left on the price scale.
Scale – if this option is on, the scale is calculated automatically based on the minimum and maximum values of the indicator to fit the latter in the chart.
Color - color setup of the indicator.
Visual type - visual setup of the indicator display on the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setup of the line display:
Width - width setup for the indicator line.
The Signal line has the same visual settings as the RVI line.
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