RVI - Relative Vigor Index momentum and confirmation (MT4)

RVI - Relative Vigor Index compares the position of close vs open normalized by the bar range and smooths it to form an oscillator with a signal line. It excels at zero line timing, crosses of signal, and divergence control on MetaTrader 4.

What it shows

• Zero line: above zero favors bullish momentum, below zero favors bearish.
• Signal crosses: RVI crossing its signal line marks momentum shifts.
• Divergence: price makes HH or LL while RVI lags or flips - watch for reversal.
• Optional alerts on zero cross, signal cross and new oscillator extremes.

Trade ideas

1. Trend plus signal: trade with the trend when RVI is above zero and crosses up its signal. Mirror for shorts.
2. Breakout filter: require RVI to be on the confirming side of zero during breakouts or retests.
3. Divergence plus trigger: use divergence near S or R, then wait for signal cross or zero cross to trigger.
4. Multi TF: use H1-H4 as bias, time entries on M5-M15 when both RVI and price flip together.

Inputs that matter

• RVI period and smoothing.
• Signal period for the companion line.
• Alert filters for zero and signal crosses.
• Visual style for line or histogram.

Suggested usage

• M5-M15: intraday timing and exit control.
• M30-H4: swing continuation and divergence checks.
• Daily+: regime bias and breakout validation.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy RVI_Indicator.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach RVI - Relative Vigor Index.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Direction? RVI is an oscillator around zero - combine with structure for bias.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.