Relative Vigor Index Indicator
Overview
The Relative Vigor Index Calculator is an averaged/smoothed line of the standard Relative Vigor Index tool. A second Moving Average line is applied to the smoothed RVI line to provide additional smoothing.
By default, both average lines use a period of 10 bars.
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: RVII()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Relative Vigor Index Indicator tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Relative Vigor Index Indicator tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Relative Vigor Index Indicator to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
RVI Period: The number of bars used in the moving average calculation of the RVI Indicator.
Calc Style: This option allows you to change the type of calculation used by the Moving Average in the RVI Indicator. The calculation options are Exponential, Simple, Weighted, Smoothed, Modified, 4-Period Symmetrically weighted.
RVI Plot Style: Expands to display the RVI Plot Style Properties as below:
- Plot Style - Adjusts the display style of the RVI Indicator tool. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - When Line is selected as the Plot Style, the Line Style property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the RVI line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to adjust the colour of the RVI line.
- Fill Up / Down Barrier - When the Plot Style is set to Shaded you are able to adjust the barrier value. The default value is 0.00.
- Fill Up Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Fill Down Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Transparency - When the Plot Style is set to Shaded you are then able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.
Signal Plot Style: Contains the display properties for the Signal displayed on the RVI Indicator which are identical to those listed in RVI Plot Style.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected the current RVI value will be displayed in the Price Scale.