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Relative Vigor Index - RVI

Relative Vigor Index (RVI) is an indicator of technical analysis. It is based upon the fact that the closing price on the bullish market is higher than the opening price; and vice versa for the bearish market.

The activity of the index coincides with the price at the end of a period. In order to adjust RVI for trading range, the price change is divided by the highest price range of a day.

The indicator is smoothed by a 10-period SMA and by a signal line that is 4-period MA formed on the RSI values. The crossing of lines creates either buy or sell signals.

Calculation

RVI = (CLOSE-OPEN)/(HIGH-LOW)

where
OPEN - is the opening price;
HIGH - is the maximum price;
LOW - is the minimum price;
CLOSE - is the closing price.

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