Description
The Relative Volatility Index is the Relative Strength Index (RSI) calculated with a standard deviation over several last bars used instead of price change. The RVI can be used as a confirming indicator since it uses a measurement other than price as a means to interpret market strength.
The RVI measures the direction of volatility on a scale from 0 to 100. Readings greater than 50 indicate that the volatility is more to the upside. Readings lower than 50 indicate that the direction of volatility is to the downside.
Input Parameters
| Parameter | Description |
|---|---|
st dev length
|
The number of bars used to calculate the standard deviation. |
average length
|
The number of bars used to calculate the moving average. |
average type
|
The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull. |
Plots
| Plot | Description |
|---|---|
RVI
|
The Relative Volatility Index line. |
OverBought
|
The overbought level. |
OverSold
|
The oversold level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.
Past performance is no guarantee of future performance.