Relative Vigor Index (RVI) is a vertex fx local script used for the determination of trends and the strength of those.
RVI is an (unbounded) oscillator with a zero-line, and is calculated by comparing the close relative to the open, over the trading range (High - Low). This value is smoothed by a Linear Weighted Moving Average (LWMA). A signal line(Red) which is also LWMA of the main RVI is also provided for reference. RVI is considered as a leading indicator which attempts to fore-tell a change in trend, trend, especially when the main and signal lines cross into extreme regions or when values diverge from current price behaviour.
RVI is an (unbounded) oscillator with a zero-line, and is calculated by comparing the close relative to the open, over the trading range (High - Low). This value is smoothed by a Linear Weighted Moving Average (LWMA). A signal line(Red) which is also LWMA of the main RVI is also provided for reference. RVI is considered as a leading indicator which attempts to fore-tell a change in trend, trend, especially when the main and signal lines cross into extreme regions or when values diverge from current price behaviour.
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