Relative Vigor Index Indicator
Info
The Relative Vigor Index Indicator is a Indicator for MetaTrader 5 that the relative vigor index calculation is based on the idea that close prices are usually higher than the open ones during an uptrend. The reverse situation is true in case of a downtrend.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Relative Vigor Index Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Relative Vigor Index calculation is based on the idea that close prices are usually higher than the open ones during an uptrend.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: multi-timeframe relative strength index (mtf rsi) indicator for mt4/mt5 - another powerful indicator for MetaTrader 5 traders.
The Relative Vigor Index calculation is based on the idea that close prices are usually higher than the open ones during an uptrend. The reverse situation is true in case of a downtrend. The price change is divided by the maximum prices range within one bar to normalize the index: where open is the open price, high is the highest price, low is the lowest price, and close is the close price. The oscillator is smoothed to exclude occasional price fluctuations. The signal line is generated the same way. The main advantage of this variant of the well-known indicator is the possibility to change RVI and the signal line smoothing algorithms by selecting an appropriate one out of ten algorithms present: - simple moving average, - exponential moving average, - smoothed moving average, - linear weighted moving average, - JMA adaptive average, - ultralinear smoothing, - parabolic smoothing, - Tillson's multiple exponential smoothing, - smoothing with the use of Tushar Chande's algorithm, - smoothing with the use of Perry Kaufman's algorithm. It should be noted that the phase parameter has completely different meaning for different smoothing algorithms. For JMA it is an external phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization. For Vidya it is a CMO period, for AMA it is a slow EMA period. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA. The indicator uses smoothalgorithms.mqh library classes which must be copied to the terminal_data_folder\mql5\include. The use of the classes was thoroughly described in the article as of 2026.Also recommended: relative strength index of volatility - similar indicator with strong performance on MetaTrader 5.
You may also like: relative vigor index (rvi) - excellent alternative for indicator users on MetaTrader 5.
Source Code
/*
* for the indicator to work, place the
* smoothalgorithms.mqh
* in the directory: metatrader\\mql5\include
*/
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2 .......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.