Forex encyclopedia

Relative Vigor Index (RVI) – is an oscillator used for technical analysis in Forex. An author of this index is John Enlers known for application of cycles in technical analysis of the market. The first time RVI indicator was mentioned in Stocks and Commodities magazine in 2002. In this article author says that during growth close price of bar is higher than open price and the opposite tendency was observed by him in descending market. RVI index is built on the basis of this statement.

Popular article: Forex indicators: Force Index

According to A. Elder, 13 periods' Strength Index demonstrates dominating force on the market – bulls or bear - very well. With Force Index (13) above the middle line, bulls rule on the market, whereas FI is below the middle line, bears dominate. With FI dragging near middle line and crossing it a few times, it says about absence of market tendency. New maximum above middle line shows that ascending trend is confirmed. In this respect, a new lowest point below middle line speaks for descending tendency. When with growth or decline of price Force Index (13) starts giving decreasing extreme points – essentially, forming divergence/ convergence – it indicates that current trend loses its significance and a reversal is probable.

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