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The RVI indicator ( Relative Vigor Index ) is a pretty good indicator which can be used in various ways to identify reversals.
I developed a way to use it for making absolute fool-proof extremely safe and reliable entries, at the beginning of very significant trend direction changes. It can work as a stand-alone system or as a filter. I'll post a topic about it right after having finished this post.
The RVI indicator is one of the default indicators of the Metatrader software (see "Oscillators"). However, it doesn't have the possibility to be displaced, which is essential for my system.
It would be great if someone could modify the MT indicator so that it can be displaced, i.e. "shifted". An example of an MT indicator that can be shifted is the Moving Average indicator. The idea is to have the RVI curve drawn a certain number of bars to the right. See my next post for more details.
I've taken a quick look at how it works out in MT, and it does seem that there are small differences between the way the Intellichart software plots the RVI and how it is done in MT. I'm not sure which one is more precise, but there seem to be more useful signals with the Intellichart software.
The settings or system will have to be tweaked to make it work for MT.
I like this idea but I took it one step farther. I wanted the info on the same chart, so I put // in front of Igorads change. // SetIndexShift(0,Shift); This allows me to shift the red line to the front while leaving the green line where it should be. Of course save, compile, shut down and restart before using. The red line basically leads the green line by +1, so instead of going +13, I only go +12.
I like this idea but I took it one step farther. I wanted the info on the same chart, so I put // in front of Igorads change. // SetIndexShift(0,Shift); This allows me to shift the red line to the front while leaving the green line where it should be. Of course save, compile, shut down and restart before using. The red line basically leads the green line by +1, so instead of going +13, I only go +12.
What is your experience with this modification? Can you post one or two charts?
Also, I'm not very good with inserting code without having an example, and compiling and such... Could you post a plug&play mq4 file of your idea?
Modified Relative Vigor Index / RVI indicator
Linear Mode
