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Published by:: Nikolay Kositsin
Views:: 9124
Rating:: (17)
Published:: 2011.11.01 15:37
Updated:: 2016.11.22 07:32

stochasticrvi.mq5 (9.91 KB) view

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Real author:

Witold Wozniak

Stochastic RVI is a standard Stochastic Oscillator applied to the values of RVI (Relative Vigor Index) indicator instead of a price.

Standard Stochastic oscillator is not so effective in marking the changes of market cycles or volatility. It uses a fixed period and does not fit into constantly changing market cycle length. Stochastic RVI indicator does not have such a problem and fits into the current market volatility.

The indicator is inspired by John Ehlers' article "Using The Fisher Transform" published in November 2002 in the "Technical Analysis Of Stock & Commodities" magazine. The simplest trading system for this indicator is equivalent to the one used with Stochastic Oscillator or RVI: main/signal lines crossover, zero line breakout, enter and exit to the overbought and oversold areas, the indicator divergencies with a price chart.

Stochastic RVI indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/545

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