The Relative Volatility Index is the Relative Strength Index (RSI) calculated with a standard deviation over several last bars used instead of price change. The RVI can be used as a confirming indicator since it uses a measurement other than price as a means to interpret market strength.
The RVI measures the direction of volatility on a scale from 0 to 100. Readings greater than 50 indicate that the volatility is more to the upside. Readings lower than 50 indicate that the direction of volatility is to the downside.
||The number of bars used to calculate the standard deviation.|
||The number of bars used to calculate the moving average.|
||The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.|
||The Relative Volatility Index line.|
||The overbought level.|
||The oversold level.|
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.