Relative Volatility Index (RVi)

Relative Volatility Index (RVi)
The following formulas were taken from the article "relative volatility index," written by Dorsey, Donald, in June 1993 issue of Technical Analysis of stocks and goods.
Taken from stocks and commodities, ext. 11:06 (253-256): Relative Volatility Index by Donald Dorsey
On RVi simple relative strength index (RSI), with a standard deviation over the past 10 days are used in place of daily price changes. Since most indicators use price change for their calculations, we need confirmation indicator that uses a different measurement interpret market strength. RVi The measures in the direction of volatility on a scale from zero to one hundredth perform over 50 indicate that volatility measured by the 10-day standard deviation of closing prices over the head. Readings below 50 indicate that the direction of volatility is the downside. Preliminary investigations indicate that RVi can be used anywhere where you can use the RSI and in the same way, but the specific purpose of this study was to measure the effectiveness of RVi as a confirmation indicator. "
The RVi was designed to measure the direction of volatility. It is calculated by measuring the price effect of instability rather than change the price.
All of the following formulas are required:
@ RVi Down
((Previous * 13) + If (ROC (C, 1%) <0, STDEV (C, 10), 0)) / 14
@ RVi Up
((Previous * 13) + If (ROC (C, 1%)> 0, STDEV (C, 10), 0)) / 14
@ RVi
(100 * Fml ("@ RVi By "))/( Fml (" @ RVi Up ") + Fml (" @ RVi Down:))