OPEN-SOURCE SCRIPT

Relative Volume Strength Index

Mis à jour
RVSI is an alternative volume-based indicator that measures the rate of change of average OBV.

How to read a chart using it?

  • First signal to buy is when you see RVSI is close to green oversold levels.
  • Once RVSI passes above it's orange EMA, that would be the second alert of accumulation.
  • Be always cautious when it reaches 50 level as a random statistical correction can be expected because of "market noises".
  • You know it's a serious uptrend when it reaches above 75 and fluctuates there, grading behind EMA.
  • The best signal to sell would be a situation where you see RVSI passing below it's EMA when the whole thing is close to Red overbought level


It looks simple, but it's powerful!
I'd use RVSI in combination with price-based indicators.
Notes de version
Update:
Added visual intuitiveness
Notes de version
upd
Notes de version
Effective increase in responsiveness due to a slight change in formula.
Notes de version
  • Color-coded rate of change relative to its linear regression
  • Changed formula to enhance the responsiveness
indexrelativeRelative Strength Index (RSI)rvsistrengthVolume IndicatorVolume

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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