Relative Vigor Index

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Welcome to currency trading with Profiforex!
This video is devoted to the "Relative Vigor Index."
To apply it to the chart, press the "Indicators" button on the toolbar and choose "Oscillators"-"Relative Vigor Index."

Subsequently, the window in which we change the indicators properties appears.Here we can choose the period of averaging, fix the maximum and minimum, and change visualization settings.

This indicator is based on the fact that, in a bullish market, the closing price is usually higher than the opening price.

The situation is opposite in the bearish market.

As a result, the vigor is determined as the presence of growth 

and it is calculated in the following way: 

This indicator doesn't have overbought/oversold areas.                                                                                                                                                                                       Books about the Forex market recommend that you to place these areas by yourself, but this leads to different assessments and misrepresentations.