What it does
The Relative Vigor Index (RVI) measures the conviction of a trend by comparing where price closes relative to where it opened. It divides a smoothed close-minus-open value by a smoothed high-minus-low range over a lookback period, on the idea that in uptrends prices tend to close above their open and in downtrends below it. A signal line, typically a 4-period symmetric moving average of the RVI, is plotted alongside it.
How to add it
Click Indicators (ƒx) in the header.
Search “Relative Vigor Index” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- A bullish crossover of the RVI above its signal line suggests strengthening upward vigor; a cross below suggests weakening momentum.
- Look for divergences: price making a new high while RVI makes a lower high warns the trend is losing conviction.
- Works best in trending markets as a momentum confirmation tool; take crossovers in the direction of the larger trend and ignore counter-trend ones.
- Pair it with a trend filter such as a 50-period moving average or ADX so crossovers are only taken when a trend actually exists.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 10 | 1–2000 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| RVGI | line | #089981 |
| Signal | line | #F23645 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 4 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
Watch out for
- In sideways, low-range markets the close and open are nearly equal, so RVI oscillates around zero and produces frequent whipsaw crossovers.
- The multi-stage smoothing introduces lag, so signals arrive after part of the move has already happened.