RVI trend confirmation — Indicator by delita1940

Uses the RVI (Relative Volatility Index) to confirm trend. It focus on the direction of the RVI and not if it is above or below a certain level.

HOW to read the indicator:

Blue or value 1 = bull trend confirmation
Red or value -1 = bear trend confirmation
Gray or value 0 = choppy market

Combine this with another indicator in order to confirm whether a trend is starting.

Release Notes:

v2. just updated using the original RVI trading view formula

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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