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Description
- It is a very simple and useful indicator to understand power of bull and bear forces in an ongoing trend
- It compares difference between close and open with bar range
- It oscillates above and below zero level
- It is very fluctuating as gets its value from current bar, without any relation with preceding information
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Interpretation
- RelVigInx value of 1 is a bullish signal as stock has close at its high with open = low, it’s a buy signal
- RelVigInx value of -1 is a bearish signal as stock has close at its low with close = low, it’s a sell signal
- RelVigInx value of 0 is a cautious signal as stock has close at its open with open = close, it’s reversal indication of current trend
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