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Hello guys:
I don't seem to find a tread about RVI (relative volatility Index), I use it on TOS charts but the Ninja trader does not match/equal to TOS, both at 14 /period, both on the 5 min chart.
Thank you in advance for your opinion and suggestion.
Srq1
Can you help answer these questions from other members on NexusFi?
The ThinkScript formula uses the standard smoothing constant for the exponential moving averages. However, the correct RVI formula uses Wilder's average for smoothing.
The difference between exponential and Wilder's moving average is the smoothing constant. Here is a way to calculate the RVI periods from the (higher) TOS-period:
RVI-period = (1 + TOS-period)/2
For example a TOS-period of 14 would result in a correct RVI-period of 7.5 (which does not exist). Therefore you need to settle for 7 or 8.
TOS-period = 2 * RVI-period - 1
For example the original default period of 14 for the RVI can be converted to a TOS-period of 27.
NinjaTrader follows the original concept. The Thinkscript solution is equivalent, if you change the parameter.
Fat Tails thank you for helping me with the RSI difference , like you said was on the different periods TOS and NT uses, now I can adjust NT to work like TOS.
Maybe you can point me on steps to add alerts or arrows when it hits 70 or 30 levels?
Appreciate your help
By the way, I have not been able to find much about RSI on futures.io , wonder why, not a reliable indicator to watch?
Thanks
srq1