The Stochastic's 'first cousin'. The RVI has been shortened to 5 and offset to -1 to better hit price change. I've attached a link with strateguy suggestions. My preference is to trade on 2m timeframes with 2m chart.
tradingsim.com/blog/relative-vigor-index/
You can change length and adjust offset in Inputs.
tradingsim.com/blog/relative-vigor-index/
You can change length and adjust offset in Inputs.
Note
Try changing the offset to -2 (minus 2). Extremely good results using a money management system on 1m chart and 1m trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.