Relative Volatility Index Indicator
Platform: MT5 Type: Volatility Last update: September 22, 2024The Relative Volatility Index IndicatoR consists of two color-filled floating areas which suggest whether the current volatility is bullish or bearish. The indicator is originally coded to support multi-time frame analysis and provides alerts.
Closer look on the Relative Volatility Index Indicator
When the floating area is greenish – it means the volatility suggests bullish movement. Similarly, the orangish floating area indicates bearish ongoing volatility. There are also periods of neutral activity. Just take a look, how it looks when the indicator is activated in MT5:
The indicator is highly customizable, however changing some of the important inputs may result in a completely different nature of that tool. The author suggests keeping the floating levels to > 1 and the smoothing to > 1. These are available inputs:
