Relative Vigor Index Indicator (RVI) with HANOVER

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astral77
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Relative Vigor Index Indicator (RVI) with HANOVER

Post by astral77 »

Thanks for the direction. I have moved this here now.

We are presently looking at using RVI(Relative Vigor Index) which is a standard indicator in Empty4 with NB ver 10.1. This indicator is very similar to stoch but seems to be a bit more accurate. Maybe we could substitute this to the MA cross in Hanover EA. Have a look and let us know what you think. please see this short explanation in investopedia http://www.investopedia.com/terms/r/rel ... z1diyph6CU


this is from http://codebase.mql4.com/305

"The main point of Relative Vigor Index Indicator (RVI) is that on the bull market the closing price is, as a rule, higher, than the opening price. It is the other way round on the bear market. So the idea behind Relative Vigor Index is that the vigor, or energy, of the move is thus established by where the prices end up at the close. To normalize the index to the daily trading range, divide the change of price by the maximum range of prices for the day. To make a more smooth calculation, one uses a symmetrically weighted moving average of the differences of the closing and openings prices, as well as maximum and minimum prices of the bar.

The best period at calculation of the indicator is considered 10. To avoid probable ambiguity one needs to construct a signal line, which is a symmetrically weighted moving averageof Relative Vigor Index values. The concurrence of lines serves as a signal to buy or to sell.

Calculation
VALUE1 = ((CLOSE - OPEN) + 2 * (CLOSE (1)) – OPEN (1)) + 2*(CLOSE (2) – OPEN (2)) + (CLOSE (3) – OPEN (3))) / 6

VALUE2 = ((HIGH - LOW) + 2 * (HIGH (1) – LOW (1)) + 2*(HIGH (2)- LOW (2)) + (HIGH (3) – LOW (3))) / 6

NUM = SUM (VALUE1, N)

DENUM = SUM (VALUE2, N)

RVI = NUM / DENUM

RVISig = (RVI + 2 * RVI (1) + 2 * RVI (2) + RVI (3)) / 6

where:
OPEN — is the opening price;
HIGH — is the maximum price;
LOW — is the minimum price;
CLOSE — is the closing price;
VALUE1 — symmetrically weighted moving average of the differences of the closing and openings prices;
VALUE2 — symmetrically weighted moving average of the differences of the maximum and minimum prices;
NUM — amount N importances of VALUE1;
DENUM —amount N importances of VALUE2;
RVI — value of the Relative Vigor Index indicator for the current bar;
RVISig — value of the RVI signal line for the current bar;
N — period of the smoothing."
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SteveHopwood
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Re: Relative Vigor Index Indicator (RVI) with HANOVER

Post by SteveHopwood »

The great thing about the Hanover Cross EA is that the cross can be edited quickly to adapt to any cross of x by y.

I had never looked at RVI before. On the face of it, it looks as though a cross of the red line by the green is a good signal. Allied to H, well...............

Over the next few days, I shall start threads here devoted to the most significant EA's we developed at FF. Hanover, StuffTheNews (hasn't done much so far but I am not finished with it) and and Spider are the most prominent.

:D
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
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SteveHopwood
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Posts: 9754
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

Re: Relative Vigor Index Indicator (RVI) with HANOVER

Post by SteveHopwood »

Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
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