Stochastic RVI - Levels - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
Random RVI was originally described by John Ehlers. To provide some signaling functionality beyond fixed-level crossing, he used so-called random RVI triggers. This trigger is actually an "EMA in disguise" - but we have no control over it. Furthermore, this trigger line tends to work fine in the short term but generates too much signal for trying to use stochastic RVI in long term estimates.
Instead use auto-leveling instead of trigger wires. This also introduces a "neutral" state that should help filter out some false signals.
You can use color changes as signals.
Attachment download
📎 stochastic_rvi_lvl.mq5 (8.88 KB)
Source: MQL5 #22995
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