Mastering the FX5 Self-Adjusting RVI Indicator for MetaTrader 5

Author: FX5

If you're looking to sharpen your trading strategy, the FX5 Self-Adjusting RVI indicator is a powerful tool that can help you identify overbought and oversold conditions effectively. This oscillator uses Bollinger Bands to set the boundaries, giving you a clearer view of market movements.

Key Features of the FX5 Self-Adjusting RVI

• Customizable RVI Period: Adjust the period to suit your trading style. The default is set to 12.
• Bands Deviation: The default deviation is 2.0. Tweak this to refine your signals.
• Smoothing Option: Choose whether to use smoothing for your Bollinger Bands by setting MA_Method to true.
• Horizontal Shift: Adjust the indicator's position with the Shift parameter, which defaults to 0.

Indicator Input Parameters

input uint Length=12; // RVI period
input double BandsDeviation=2.0; // Deviation
input bool MA_Method=true; // Use smoothing for Bollinger Bands
input int Shift=0; // Horizontal indicator shift in bars

Fig.1. The FX5 Self-Adjusting RVI Indicator

Related Posts

• Mastering the Open Range Breakout Indicator for MetaTrader 5
• Unlock Trading Insights with Volume Profile + Range v6.0 for MetaTrader 5
• ID Lite Info MA: A Comprehensive Indicator for MetaTrader 5
• Maximize Your Trading with the MicroPivots Indicator for MetaTrader 5
• Discover AllAverages v4.9: The Essential Indicator for MetaTrader 4