Random RVI - MetaTrader 5 Script - MQL5 #545 - MT4/MT5 Resources

Stochastic RVI is a standard stochastic oscillator applied to the value of the RV Index (Relative Vitality Index) indicator rather than price.

The standard stochastic oscillator is not that effective at marking changes in market cycles or volatility. It uses a fixed period and is not suitable for changing market cycle lengths. The Stochastic RVI indicator does not have such problems and is suitable for current market fluctuations.

This indicator was inspired by John Ehlers' article "Using the Fisher Transform" published in the November 2002 issue of Technical Analysis of Stocks and Commodities magazine. The simplest trading system for this indicator is equivalent to the one used by the Stochastic Oscillator or RVI: main/signal line crossover, zero line breakout, entry and exit into overbought and oversold areas, divergence of the indicator from the price chart.

Attachment download

📎 stochasticrvi.mq5 (9.91 KB)

Source: MQL5 #545