Can not get RVI parameters to calculate??
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the stock RVI indicator has two modes - 'main line' and signal - but i can not get them to close a trade when they cross. I tried downloading another version of the same indicator but instead of MODE, it has two buffers; 0 and 1. I tried crossing the buffers and same result - any luck out there with using RVI (Relative Vigor Index) in an EA to trigger open/ close etc? Any help much appreciated.
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https://fxdreema.com/shared/o7AJttjJ
Here, EA buys when main crosses above signal and exits when main crosses below signal. It's for MT5.
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@john-5 thanks very much - that very cool. Still using an MT4 platform - do you know of one similar for MT4?
either way very much appreciated - could not figure out with a few different RVGI indicators from different places
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i see there is a preloaded IND for RVGI - i will use this one. Can you explain why you needed to use candle position 1?
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Because it represents the latest CLOSED candle, which means that if a cross of any indicator occurred in that candle it will stay that way (in vast majority of cases). Therefore if you created indicator keeping that in mind it would not repaint (assuming no other tricks) and if you created EA a signal would be more reliable. However if you use current candle two indicators might cross each other and then "uncross" each other within that same candle especially in the case of high volatility and/or small period of the indicator (if applicable; here applicable). As a result what you will see at the end of the backtest is EA placing an order in the situation where you can see clearly that a cross did not occur. But if you look at the same order while examining backtest tick by tick or even minute candles (for higher time frames) you will see that the cross occurred for short period of time, EA placed an order and then indicators part ways.
This behavior can result in generating a false signal, unless you are ok with that and your strategy only requires cross no matter how it happened.