Relative Vigor Index — an oscillator comparing the close-open and high-low ranges.
The Relative Vigor Index (RVI) is based on the assumption that in an uptrend the close is above the open (a bullish body), and in a downtrend it is below. The RVI normalizes the difference between the close and open by the candle’s range and smooths the result. The signal line is a 4-period symmetric WMA of the RVI.
Numerator = SMA(weighted(Close - Open), period)
Denominator = SMA(weighted(High - Low), period)
RVI = Numerator / Denominator
Parameter Type Default Range / Values Periodint 10 1-200
Trigger Direction Condition Description Signal line cross up 🟢 Buy The main line crossed the signal line from below to above — a buy signal. The RVI line crosses the signal line from below to above — a bullish crossover. Signal line cross down 🔴 Sell The main line crossed the signal line from above to below — a sell signal. The RVI line crosses the signal line from above to below — a bearish crossover. Zero cross up 🟢 Buy The indicator line crossed zero from below to above — a buy signal. The RVI line crosses the zero level from below to above. Zero cross down 🔴 Sell The indicator line crossed zero from above to below — a sell signal. The RVI line crosses the zero level from above to below. Slope turns positive 🟢 Buy The indicator’s slope turned positive — an upward reversal. The RVI line changes its slope from falling to rising — the indicator stopped falling and started rising. Slope turns negative 🔴 Sell The indicator’s slope turned negative — a downward reversal. The RVI line changes its slope from rising to falling — the indicator stopped rising and started falling. Line diverges from signal ↕️ Both The distance between the main line and the signal line increased by the specified amount. The RVI line moves away from the signal line — momentum is strengthening. Line converges to signal ↕️ Both The distance between the main line and the signal line decreased by the specified amount. The RVI line converges to the signal line: the distance shrinks, a crossover may be brewing.
Parameter Type Default Range / Values Min Delta (Line converges to signal, Line diverges from signal)float 0 0>
