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Displaying Multi-Timeframe RVI Values with Zone-Based Colors

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Summary

This indicator presents the Relative Vigor Index (RVI) reading for a chosen period across multiple timeframes in a text panel. Traders can adjust the panel’s size and font, hide timeframes they do not use, and display up to ten indicator instances at once.

The panel color reflects whether the RVI is above an overbought threshold, below an oversold threshold, or between those levels. The supplied defaults set thresholds at +0.22 and −0.22, with distinct colors for the high, middle, and low zones. The document describes display features and configurable thresholds, but provides no trading rules, performance evidence, or guidance on selecting periods and levels. Zone colors are a visual aid; they do not establish that a signal predicts returns.

Key ideas

  • The indicator displays a selected-period RVI reading for multiple timeframes.
  • Panel size and font are configurable, and unused timeframes can be hidden.
  • Color indicates whether the reading is above, below, or between configured thresholds.
  • The description provides no evidence that the displayed zones produce profitable signals.

Tags

Technical indicators

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.