Relative Vigor Index (RVI) Calculation Class for Indicator Buffers
Info
The Relative Vigor Index (RVI) Calculation Class for Indicator Buffers is a Library for MetaTrader 5 that the crvionarray class is designed for calculating relative vigor index (rvi) values on indicator buffers. This class simplifies the process of integrating RVI calculations directly within your MQL5 indicators.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Relative Vigor Index (RVI) Calculation Class for Indicator Buffers
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
The CRVIOnArray class is designed for calculating Relative Vigor Index (RVI) values on indicator buffers.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: asq news filter - another powerful library for MetaTrader 5 traders.
The CRVIOnArray class is designed for calculating Relative Vigor Index (RVI) values on indicator buffers. This class simplifies the process of integrating RVI calculations directly within your MQL5 indicators.Also recommended: Trading Signals Module Based on GO Indicator - similar library with strong performance on MetaTrader 5.
Initialization:
The init() method is called within the OnInit() function and accepts the following parameters:
int aperiod
- The indicator period for RVI calculation.
enum_ma_method amethod
- The Moving Average method to be used in calculations.
Calculation:
The solve() method is called within the OnCalculate() function and requires the following parameters:
const int aratestotal
- The rates_total variable from the OnCalculate() function parameters.
const int aprevcalc
- The prev_calculated variable from the OnCalculate() function.
double adataopen[]
- The buffer containing the open price data.
double adatahigh[]
- The buffer containing the high price data.
double adatalow[]
- The buffer containing the low price data.
double adataclose[]
- The buffer containing the close price data.
double am[]
- An intermediate buffer used for calculations.
double ams[]
- An intermediate buffer used for calculations.
double ar[]
- An intermediate buffer used for calculations.
double ars[]
- An intermediate buffer used for calculations.
double amain[]
- The output buffer for the main RVI line calculation.
double asignal[]
- The output buffer for the signal line calculation.
Additional Methods:
int barsrequiredmain()
- Returns the minimum number of bars required to calculate the main RVI line.
int barsrequiredsignal()
- Returns the minimum number of bars required to calculate the RVI signal line.
string name()
- Returns the name of the RVI indicator.
Example Usage:
The test_rvionarray.mq5 file serves as a sample indicator demonstrating the application of the CRVIOnArray class. To use this class, place the incrvionarray file into the MQL5\Include\inconarray directory of your MetaTrader 5 terminal data folder. Ensure that the inconarray folder is created if it does not exist.
Dependency:
The CMAOnArray class from the incmaonarray file is required for the proper functioning of CRVIOnArray. This dependency can be found separately.
Indicator Concept:
The core idea behind the Relative Vigor Index (RVI) is that during a bull market, the closing price is typically higher than the opening price, while the opposite is true in a bear market. The RVI quantifies the momentum or "vigor" of a price move by analyzing where the prices close relative to their opening prices.
You may also like: Moving Average Calculation on Array Data - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 10
#property indicator_plots 2
#property indicator_label1 "label1"
#property indicator_type1 draw_line
#property indicator_color1 clrred
#property indicator_style1 style_solid.......
⚠ 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.