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fract
10 Mei 2020 pukul 01.30

Relative Volume Strength Index 

BITMEX:XBTUSD.P60
Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Huraian

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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.

Nota Keluaran

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Update:
Added visual intuitiveness

Nota Keluaran

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upd

Nota Keluaran

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Effective increase in responsiveness due to a slight change in formula.
VolumeVolume Indicatorrelativestrengthindexrvsi
Komen
dhman2012
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Hey man, this is an awesome indicator. Thank you for putting this together. Trying to understand what each piece means: ema is simple enough to understand, but what is root length? What does this do to the output?
fract
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@dhman2012, It's for correcting and adapting to TF change
dhman2012
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@fract, Thanks for such a fast response. So you'd have lower number for lower timeframe (15M for example) and higher number for higher timeframe (1D for example)? I think default root length of 10 refers to 1HR? How would I change this for different timeframe?
fract
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@dhman2012, No, vice versa. The default settings are already tested for average timeframe.
dhman2012
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@fract, Got it. Thank you! And thank you again for the great work!
fract
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@dhman2012, Thank YOU
Peggy_Web
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I came across your indicator this weekend and it is simply brilliant! Sheer brilliance!! Just wanted to pass on my sincere thanks and gratitude for sharing this :)
fract
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@Peggy_Web, Thank you!
New_user19
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If u share RVSI with daily TF will be more clear
RNavega
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@fract this is actually great! Thanks for sharing.
Lebih