The Relative Vigor Index (RVI) indicator is a popular and free MT5 forex indicator that is useful for traders. It is based on the principle that an asset’s closing price is more important than its opening price. The RVI indicator is designed to measure the strength of a trend and to identify potential reversals. It does this by calculating the difference between the closing and opening prices of an asset over a period of time. The RVI indicator is calculated by taking the difference between the closing and opening prices of an asset, and then dividing it by the sum of the opening and closing prices. The result is then plotted on a chart to show the strength of the trend. If the RVI is above 0, this indicates that the trend is bullish. Conversely, if the RVI is below 0, this indicates that the trend is bearish. Overall, the Relative Vigor Index indicator is a popular and free MT5 forex indicator that is useful for traders. It is easy to use and can help traders identify potential reversals in the market.
Relative Vigor Index
The Relative Vigor Index (RVI) indicator is a useful tool for Forex traders. This popular indicator is available for free on the MT5 platform and is used to measure the strength of a trend. The RVI is calculated by comparing the closing price of a period to the opening price of the same period, and then calculating the difference between the two. The RVI is a popular and reliable indicator for Forex traders and can be a valuable tool in any trading strategy.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.