Hello everyone, on the Market (https://o-s-a.net/market/products ) added the free indicator.
The RAVI indicator shows the percentage difference between current prices and past prices to determine market trends. It is calculated based on moving averages of various lengths.
The full name of the "Range Action Verification Index" is "The index of the range of reliable action".
The author of the indicator is Tushar Chand (Tushar Chande). He is known as the developer of another indicator "Aroon" and the author of the book "Beyond Technical Analysis".
The first one is long, the period is 13 weeks (that is, 65 working days, or 3 months, or one quarter).
The second one is short, and is configured for a weekly interval (7 days, this is rounded 1/10 of the period of the first one).
These periods are recommended for daily charts. With other timeframes, other parameters may be optimal. Parameters 120 and 24 may be suitable for an hourly chart. The general principle of selecting periods is that the period of a short line is five to ten times less than the period of a long one.
Using the indicator:
When the indicator crosses the upper line, the indicator indicates the emergence of an upward trend.
When the indicator crosses the lower line, the indicator indicates the emergence of a downward trend.
The upward trend is considered to persist as long as the RAVI line continues to grow.
The downward trend is considered to persist as long as RAVI continues to fall.
The indicator near the zero line indicates uncertainty and flat (sideways movement).
According to these data, you can build your strategy, both trending and against the trend.
The indicator is configured as a standard setting and the indicator via the indicator settings menu by right-clicking on the chart
1. The length of the slow line, the moving average.
2. The length of the fast line, the moving average.
3. Upper level.
4. Lower level.
5. Type of price. Available: at the price of closing, Opening, maximum, Minimum, Median ((High + Low) / 2), Typical (High + Low + Close) / 3.
You can download the indicator here: https://o-s-a.net/market/item/21
Download, use, successful algorithms!