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RVI Divergence Indicator

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RVI Divergence Indicator for MT4
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RVI Divergence Indicator

RVI Divergence generation III is modern indicator with complex mathematic algorithm (BJF Trading Group innovation). You will see divergenses on the chart and indicator. Arrows painted above/below the open bar and not in the past. You can see when actually you can trade. It is never to late! Signals based on closed bars so the arrows above/below open bar never disappear.

RVI Divergence MT4 Indicator shows fractal divergence by RVI indicator . When divergence arises between RVI indicator and the price it means forthcoming end of current trend. The signal to buy comes when new Low-fractal is below the previous one, and corresponding RVI meaning is above the previous one The signal to sell comes when new Up-fractal is above the previous one and the corresponding RVI meaning is below the previous one. The indicator has a lot of customizable settings

rvi divergence indicator

Relative Vigor Index (RVI)

 

The main point of Relative Vigor Index Technical Indicator (RVI) is that on the bull market the closing price is, as a rule, higher, than the opening price. It is the other way round on the bear market. So the idea behind Relative Vigor Index is that the vigor, or energy, of the move is thus established by where the prices end up at the close. To normalize the index to the daily trading range, divide the change of price by the maximum range of prices for the day. To make a more smooth calculation, one uses Simple Moving Average. 10 is the best period. To avoid probable ambiguity one needs to construct a signal line, which is a 4-period symmetrically weighted moving average of Relative Vigor Index values. The concurrence of lines serves as a signal to buy or to sell.

Relative Vigor Index Calculation

RVI = (CLOSE-OPEN)/(HIGH-LOW)


Where:
OPEN — is the opening price;
HIGH — is the maximum price;
LOW — is the minimum price;
CLOSE — is the closing price.

See also PowerRVI Divergence Indicator

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