Relative Vigor Index – RVI
The Relative Vigor Index (RVI) is a momentum indicator used in technical analysis. It measures the strength of a trend by comparing the closing price of a security with its trading range and smoothing the results using a simple moving average (SMA).
The RVI is interpreted in the same way as many other oscillators, such as the Moving Average Convergence-Divergence (MACD) or the Relative Strength Index (RSI). While oscillators tend to fluctuate between fixed levels, they can remain at extreme levels for extended periods, so interpretation must be done in a broad context to be actionable.
The indicator has one line:
- RVI Signal
We have added these basic conditions:
- RVI is rising/falling
- RVI is above/below level
- RVI crosses above/below level
Indicator is implemented for: MT4/MT5/Tradestation/ Multicharts
You can easily do your conditions in Custom blocks. More informations you can find here:
How to import custom indicators to SQX: https://strategyquant.com/doc/programming-for-sq/import-export-custom-indicators-and-other-snippets/