RVI

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.



Drawing.

Panel To add and set up this indicator, open  

  • New panel.
  • Chart.

RVI

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: 

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style - setup of the line display: 

  • Solide
  • Dash
  • Dash-dot
  • Dash-dot-dot

Width - width setup for the indicator line. 

The Signal line has the same visual settings as the RVI line.