Fisher RVI - MetaTrader 5 Script - MQL5 #20003 - MT4/MT5 Resources
The Relative Vitality Index (RVI) indicator is used in technical analysis to measure the credibility of recent price movements and their likelihood of continuation. RVI compares a security's positioning closing price relative to its price range and smoothes the results by calculating an exponential moving average of the values.
The calculation formula of this indicator is as follows:
This indicator adds Fisher transformation based on RVI. The Fisher Transform enables traders to create a near-Gaussian probability density function by normalizing prices. Essentially, this shift makes peak moves relatively rare and price reversals clearly identifiable on the chart. Technical indicators are typically used by traders looking for extremely timely signals rather than lagging indicators.
Attachment download
📎 fisher_rvi.mq5 (6.83 KB)
Source: MQL5 #20003
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