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.

Input Parameters

Parameter Description
st dev length The number of bars used to calculate the standard deviation.
average length The number of bars used to calculate the moving average.
average type The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.


Plot Description
RVI The Relative Volatility Index line.
OverBought The overbought level.
OverSold The oversold level.


*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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