anoojpatel

Relative Vigor Index with Dominant Cycle Detection (RVI)

Relative Vigor Index with Dominant Cycle Detection. As Ehler's mentioned, fixed length look back is inherently flawed when it is possible to extract a length from a dominant price cycle. may be less effective if signal to noise ratio is greater than 2, but that usually would not happen at >5m candles, and honestly shouldn't be looking at RV(igor)I when price is moving sideways.


Read just like an RVGI, but adjusted to the current time frame. To reduce noise, changing to heiken ashi will help with signals as well. Let me know if there are improvements!



Made for JD , the OG .
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.

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Comments

ALSO IF YOU STUMBLE UPON THIS INDICATOR THROUGH A PAID GROUP, YOU'RE DOING IT WRONG. DON'T WASTE YOU TIME TO BE LEAD BY THE BLIND, AND PAY FOR VISION. Join a group that values teaching you to see. If they make more money from teaching than trading, are they good at trading?
+4 Reply
blackcat1402 anoojpatel
@anoojpatel, thank you for emphasizing this important point
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@anoojpatel Hello! I think this is a very useful indicator. It could be even more useful if it could show multi-timeframe reading on one chart AND mtf could be input manually.
Like seeing RVI for 4 hours on a 4H chart AND an RVI for 720 hours in the same pane. Makes sense?
+1 Reply
Hi, Can you please add 0.00 line in your indicator? It give not only fantastic results but makes your entry / exit decision stronger.
Can it be working smoothly in Indian stock market?
Thank you.
Reply
what are the difference between adaptive RVI and RVI with Dominant Cycle Detection? Which can work better for volatile market periods?
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