SRVI@2
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The Super Relativ Vigor Index (RVI) is a technical analysis tool designed to help traders gauge the momentum and strength of price movements by comparing the "vigor" of gains against the "vigor" of losses. Rather than simply looking at where the price is, this script analyzes how much energy is behind the current market trend over a specific period.
How the Logic Works
The core logic of this script relies on three primary steps: measuring movement, calculating the ratio, and generating signals.
1. Measuring Price Vigor The script examines two distinct types of price actions simultaneously:
- Upward Vigor: It calculates the difference between the closing price and the opening price. To ensure smoothness and reduce "noise," it applies a weighted calculation that factors in the results of the last few candles.
- Downward Vigor: It looks at the difference between the highest and lowest prices (the "range"). By comparing these high/low extremes over several periods, it determines how much potential volatility or downward pressure is present in the market.
2. Establishing the RVI Ratio Once the upward vigor and downward vigor are calculated, the script divides the total upward strength by the total downward strength. This produces the main RVI line.
- If the result is high, it suggests that bullish (upward) momentum is significantly stronger than bearish (downward) pressure.
- If the result is low, it suggests that the market is experiencing more significant downward volatility relative to its gains.
3. Signal Smoothing and Deviation To make the data easier for a human trader to interpret, the script performs two additional processing steps:
- Signal Line: It creates a smoothed "Signal" line by averaging the RVI values over a short window. This helps identify the overall direction of the momentum without reacting too quickly to minor price flickers.
- Value and Deviation Tracking: The script calculates secondary values (Value 1 and Value 2) that measure the distance or "gap" between the main RVI line and its Signal line. These act as indicators of divergence; when the gap between the price momentum and the signal becomes exaggerated, it can alert a trader to a potential change in trend.
Summary for the User
In simple terms, this script acts like a momentum speedometer. It looks at how hard the price is pushing in one direction versus the other, smooths out that data so it isn't jagged or confusing, and provides multiple lines that allow you to see not just where the price is going, but how much energy is backing that move.
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SRVI@2
//+------------------------------------------------------------------+
//| Super Relativ Vigor Index.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Black
#property indicator_color2 Black
#property indicator_color3 Yellow
#property indicator_color4 Red
//---- indicator parameters
extern int ExtRVIPeriod=10;
//---- indicator buffers
double ExtRVIBuffer[];
double ExtRVISignalBuffer[];
double ExtRVIValue[];
double ExtRVIValue2[];
//--------------------------------------------------------------------
double Rozdiel;
//--------------------------------------------------------------------
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator buffers mapping
SetIndexBuffer(0,ExtRVIBuffer);
SetIndexBuffer(1,ExtRVISignalBuffer);
SetIndexBuffer(2,ExtRVIValue);
SetIndexBuffer(3,ExtRVIValue2);
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
//---- drawing settings
SetIndexDrawBegin(0,ExtRVIPeriod+3);
SetIndexDrawBegin(1,ExtRVIPeriod+7);
SetIndexDrawBegin(2,ExtRVIPeriod);
SetIndexDrawBegin(3,ExtRVIPeriod);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("RVI("+ExtRVIPeriod+")");
SetIndexLabel(0,"RVI");
SetIndexLabel(1,"RVIS");
SetIndexLabel(2,"Value");
SetIndexLabel(3,"Value2");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Relativ Vigor Index |
//+------------------------------------------------------------------+
int start()
{
int i,j,nLimit,nCountedBars;
double dValueUp,dValueDown,dNum,dDeNum;
//----
if(Bars<=ExtRVIPeriod+8) return(0);
//----
nCountedBars=IndicatorCounted();
//---- check for possible errors
if(nCountedBars<0) return(-1);
//---- last counted bar will be recounted
nLimit=Bars-ExtRVIPeriod-4;
if(nCountedBars>ExtRVIPeriod+4)
nLimit=Bars-nCountedBars;
//---- RVI counted in the 1-st buffer
for(i=0; i<=nLimit; i++)
{
dNum=0.0;
dDeNum=0.0;
for(j=i; j<i+ExtRVIPeriod; j++)
{
dValueUp=((Close[j]-Open[j])+2*(Close[j+1]-Open[j+1])+2*(Close[j+2]-Open[j+2])+(Close[j+3]-Open[j+3]))/6;
dValueDown=((High[j]-Low[j])+2*(High[j+1]-Low[j+1])+2*(High[j+2]-Low[j+2])+(High[j+3]-Low[j+3]))/6;
dNum+=dValueUp;
dDeNum+=dValueDown;
}
if(dDeNum!=0.0)
ExtRVIBuffer[i]=dNum/dDeNum;
else
ExtRVIBuffer[i]=dNum;
//==----==//
ExtRVIValue[i]=ExtRVISignalBuffer[i]+ExtRVIBuffer[i]*4;
if(ExtRVISignalBuffer[i]>ExtRVIBuffer[i])
{
Rozdiel=ExtRVISignalBuffer[i]-ExtRVIBuffer[i]/2;
ExtRVIValue2[i]=ExtRVIBuffer[i]+Rozdiel;
}
if(ExtRVIBuffer[i]>ExtRVISignalBuffer[i])
{
Rozdiel=ExtRVIBuffer[i]-ExtRVISignalBuffer[i]/2;
ExtRVIValue2[i]=ExtRVISignalBuffer[i]+Rozdiel;
}
//==----==//
}
//---- signal line counted in the 2-nd buffer
nLimit=Bars-ExtRVIPeriod-7;
if(nCountedBars>ExtRVIPeriod+8)
nLimit=Bars-nCountedBars+1;
for(i=0; i<=nLimit; i++)
ExtRVISignalBuffer[i]=(ExtRVIBuffer[i]+2*ExtRVIBuffer[i+1]+2*ExtRVIBuffer[i+2]+ExtRVIBuffer[i+3])/6;
//==----==//
ExtRVIValue[i]=ExtRVISignalBuffer[i]+ExtRVIBuffer[i]*4;
if(ExtRVISignalBuffer[i]>ExtRVIBuffer[i])
{
Rozdiel=ExtRVISignalBuffer[i]-ExtRVIBuffer[i]/2;
ExtRVIValue2[i]=ExtRVIBuffer[i]+Rozdiel;
}
if(ExtRVIBuffer[i]>ExtRVISignalBuffer[i])
{
Rozdiel=ExtRVIBuffer[i]-ExtRVISignalBuffer[i]/2;
ExtRVIValue2[i]=ExtRVISignalBuffer[i]+Rozdiel;
}
//==----==//
//----
return(0);
}
//+------------------------------------------------------------------+
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