RVI (Relative Vigor Index) is a trading indicator which indicates market momentum and gives trend changing signal. When this indicator moves higher, then it indicates bullish momentum. When it moves lower, then it indicates bearish momentum of the market price. If this indicator crosses at the higher level, then it gives bearish signal. Similarly if it crosses at low level, then it gives bullish signal. 0.0 level of this indicator is used for trend changing. If price cross 0.0 level from lower to upper, then it indicates uptrend. If price cross 0.0 level from upper to lower, then it indicates downtrend of the market.
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In this tutorial, you will learn:
(1)how to set RVI indicator on your chart,
(2)how to customize its parameters,
(3)how to remove this indicator from mt4 chart.
How to set RVI indicator
First open your chart. Click on ”Insert”. Then click on ”Indicators” and ”Oscillators”. You will see your desired RVI indicator. Then click on ”Relative Vigor Index” .
How to customize its parameter
You will get new window to customize the parameters of RVI indicator. In ”Parameters” tab, you can change ”Period” option of this indicator. You can put your desired value on period box. You can use default period value for better result. Here you can change the color and width of RVI indicator.
In ”Levels” tab, you can add level on RVI indicator. Click on ”Add” and you can put value on level option. You can add 0 level which gives trend changing signal. You can also change the color of the level lines. You can delete any level from the indicator. For that you have to click on your level, then click on ”Delete” button.
How to remove RVI indicator from chart
If you want to remove this RVI indicator, then you can remove this from your mt4 chart. You have to move your mouse on the indicator and press on ”Right-button”. New window will be appeared on the chart. Then click ”Delete Indicator Window”. Thus RVI indicator will be disappear from your chart.