Our custom developed Forex Relative Vigor Index Thinkorswim Indicator. The Relative Vigor Index (RVI) is a technical analysis indicator that measures the strength of a trend by comparing a security’s closing price to its trading range and smoothing the results. It’s based on the tendency for prices to close higher than they open in uptrends and to close lower than they open in downtrends.
- RVI oscillates across a center line rather than trend, higher or lower.
- Divergences between the RVI indicator and price suggests there will be a near-term change in the trend
Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.
The EUR/GBP 15 minute chart below displays the Forex Relative Vigor Index Thinkorswim Indicator in action.
Copy and paste the Forex Relative Vigor Index Thinkorswim Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete