Relative Volume Strength Index

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.
Catatan Rilis: Update:
Added visual intuitiveness
Catatan Rilis: upd
Catatan Rilis: Effective increase in responsiveness due to a slight change in formula.
Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

Inggin menggunakan skrip ini pada chart?


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?
+5 Jawab
fract dhman2012
@dhman2012, It's for correcting and adapting to TF change
+1 Jawab
@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 dhman2012
@dhman2012, No, vice versa. The default settings are already tested for average timeframe.
+1 Jawab
@fract, Got it. Thank you! And thank you again for the great work!
+1 Jawab
fract dhman2012
@dhman2012, Thank YOU
If u share RVSI with daily TF will be more clear
+2 Jawab
This indicator is officially broken. Great work here, I give this an 11/10.
+1 Jawab
im shit stoned and new to the site trying to find out more about volume indicators. is this your own creation?
+1 Jawab
fract LeBelleChart