On the last tip, we saw how to use the Momentum Forex indicator on the Metatrader 4 trading platform . Today, we will focus on learning how to use the RVI Forex Indicator, part of the Indicators suite of MT4.
The Technical Analysis Forex Indicator, RVI (Relative Vigor Index) is established at the end of the closing. On a rising trend, the closing, as a general rule, is higher than the opening. Otherwise, the tendency would be downwards.
The parameters are:
Period: Number of periods used to calculate the RVI
RVI: Main line
Signal line: The line used to determine the signal
We search for Long positions when the main line crosses the signal line upwards and we look for Short positions when the main line crosses the signal line downwares