This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v6 · Own pane
Relative Volatility Index (RVI)
This indicator calculates the Relative Volatility Index (RVI), which measures price volatility directionally in a separate pane.
GitHub stars2on the repository
Pine versionv6current
Lines of code77
Settings3inputs
LicenceNone stated
Last update9 months ago25 Jan 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
RVI applies Wilder's smoothing to upward and downward standard deviations of price changes over a specified lookback period, generating an oscillator bounded between 0 and 100. Key user inputs allow adjusting the source price, standard deviation length, and smoothing period.
- Directional standard deviation calculation
- Wilder's smoothing for upward and downward volatility
- Customizable standard deviation lookback and smoothing lengths
Details
Published by
mushroom-men-Trading on GitHub
Code credit
mihakralj, as written in the script's header
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | i_src_rvi |
| StdDev Length | int | 10 | i_stdevLength_rvi |
| RMA Length (Wilder's Smoothing) | int | 14 | i_rmaLength_rvi |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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