romulodl

RVI trend confirmation

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.

Want to use this script on a chart?

Comments

Cool script. I guess it's for NNFX.
Was the intent to use it as a C1+continuation indicator, or as a standalone continuation indicator ? Or something else ?
Did you have good results with it ?
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter