Relative Vigor Index (RVI)
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    Relative Vigor Index (RVI)

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    Article Summary

    DXcharts powers DXtrade, DXfina, and FinCharts.
    Check our website to find more information about DXcharts library.

    Relative Vigor Index (RVI) is a momentum oscillator based on the concept that prices are tend to close higher than they open in uptrends and close lower than they open in downtrends. RVI values are calculated as the difference between the Close price and its trading range. The oscillator helps reveal divergence which can be considered as a near-term change in the trend. 

    RVI = (Close - Open) / (High - Low)

    Relative Vigor IndexRelative Vigor Index 

    PLOTS

    The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

    PlotDescription
    RVIThe Relative Vigor Index plot
    Color

    Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

    Palette

    To create a custom color:

    1. Clickto open the color picker
    2. By using the slider at the bottom, adjust the main color
    3. Then, set a shade for the main color on the palette

    The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

    Weight
    Change the value (in px) to adjust the thickness of the plot.
    Type
    The following plot types are available:
    • Linear. The plot is displayed as a line.
    • Column. The plot is displayed as a histogram.
    • DifferenceThe plot is displayed as a line which represents the difference between High and Low prices of the bar.
    • PointsThe plot is displayed as points.
    • Text above candleThe plot is displayed as the price labels above candles on the chart.
    • Text below candleThe plot is displayed as the price labels below candles on the chart.
    • Triangle above candleThe plot is displayed as triangles above candles on the chart.
    • Color candle. The candles on candle-type charts are highlighted with specified colors.

    OVERLAYING

    Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

    Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE