The Stochastic Relative Vigor Index
was created by John Ehlers
(Cybernetic Analysis For Stocks And Futures pgs
84-89) and this of course is very similar to the Ehlers Fisher Stochastic
Relative Vigor Index I just published. In hindsight I probably should have published this one first but just like with the other script this is a stochastic
version of a Relative Vigor Index
and I added some smoothing to make buy and sell signals clearer. There are several ways to identify buy and sell signals but generally in the long term it is a buy signal when the indicator is below the oversold line and is moving up and in the short term when the indicator is above it's trigger line which is what I coded the buy and sell signals to follow. Buy when the line is green and sell when it turns red.
Let me know if there are any other scripts you would like to see me publish!