Relative Volatility Index Stock Screener

The RVI can assist traders in identifying potential trend reversals, false signals, and breakouts by providing information about an asset’s volatility . . . Traders can increase their profitability by combining the RVI with other analytical techniques to make informed trading decisions

7 minutes

This post focuses on customizable Relative Volatility Index (RVI) factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

Display Relative Volatility Index (RVI) Values

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List symbols
Add Column Relative Volatility Index(14) as RVI
Apply to NSE

This scan determines and displays the Relative Volatility Index (RVI) values for all symbols listed on the NSE. The RVI is calculated over a 14-period period.

OPTION 1

Here are the RVI values for multiple periods as requested. Please note that we have used the abbreviated term “RVI” instead of “Relative Volatility Index”. Additionally, we have also computed the RVI variant specific to ChartAlert, known as “RVI-ChartAlert”.

List symbols
Add Column RVI(14) as RVI14
Add Column RVI(21) as RVI21
Add Column RVICA(14) as RVICA
Apply to NSE

OPTION 2

To scan for recent RVI values for the past 3 bars:

List symbols
Add Column RVI(14) as RVI
Add Column RVI(14) a bar ago as RVI_1
Add Column RVI(14) 2 bars ago as RVI_2
Apply to NSE

Relative Volatility Index (RVI) in Overbought Zone

Tags: relative volatility index crossover below 70, relative volatility index overbought and declining screener, relative volatility index overbought and decreasing screener, relative volatility index overbought screener, relative volatility index overbought stock screener, stock screener relative volatility index below 70

List symbols where RVI(14) has been above 70 for the last 3 bars
Add Column RVI(14) as RVI
Add Column RVI(14) 1 bar ago as RVI14_1
Add Column RVI(14) 2 bars ago as RVI14_2
Apply to NSE

This scan searches for NSE symbols based on the following criteria: the 14-period RVI has remained above 70 for the past 3 bars. The scan report will also include the values of the 14-period RVI for the last 3 bars.

OPTION 1

If you want to modify the original scan to find symbols where the RVI is specifically in the Overbought Zone, you can make the following changes:

List symbols where RVI(14) > 70
Add Column RVI(14) as RVI
Add Column RVI(14) 1 bar ago as RVI14_1
Add Column RVI(14) 2 bars ago as RVI14_2
Apply to NSE

Relative Volatility Index (RVI) in Oversold Zone

Tags: relative volatility index crossover above 30, relative volatility index oversold screener, relative volatility index oversold and improving screener, relative volatility index oversold and increasing screener, relative volatility index oversold stock screener, stock screener relative volatility index above 30

List symbols where RVI(14) has been below 30 for the last 3 bars
Add Column RVI(14) as RVI
Add Column RVI(14) 1 bar ago as RVI14_1
Add Column RVI(14) 2 bars ago as RVI14_2
Apply to NSE

This scan searches for NSE symbols that have exhibited a 14-period RVI below 30 continuously for the past 3 bars. The scan report also includes the values of the 14-period RVI for the last three bars.

OPTION 1

If you prefer to focus on symbols where the RVI is solely in the Oversold Zone, you can modify the original scan as follows:

List symbols where RVI(14) < 30
Add Column RVI(14) as RVI
Add Column RVI(14) 1 bar ago as RVI14_1
Add Column RVI(14) 2 bars ago as RVI14_2
Apply to NSE

Overbought with a Declining Relative Volatility Index (RVI)

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List symbols where RVI(14) has crossed below 70 after remaining above for 3 bars
Add Column RVI(14) as RVI14
Apply to NSE

This scan examines patterns where the 14-period RVI recently crossed below the 70 level. Prior to this crossover, the RVI had stayed above the 70 level for 3 consecutive bars. The resulting scan report includes the display of the 14-period RVI.

Oversold with an Improving Relative Volatility Index (RVI)

Tags: relative volatility index crossover above 30, relative volatility index oversold screener, relative volatility index oversold and improving screener, relative volatility index oversold and increasing screener, relative volatility index oversold stock screener, stock screener relative volatility index above 30

List symbols where RVI(14) has crossed above 30 after remaining below for 3 bars
Add Column RVI(14) as RVI14
Apply to NSE

This scan looks for specific patterns in symbols. It focuses on situations where the 14-period RVI has recently crossed above the 30 level, following a period of having stayed below 30 for 3 bars. The scan report also includes the display of the 14-period RVI.

Relative Volatility Index Moving Average Bullish Crossover

Tags: relative volatility index moving average crossover bullish

List symbols where RVI(14) has crossed above EMA(3,RVI(14)) after remaining below for 3 bars
Add Column RVI(14) as RVI14
Add Column EMA(3,RVI(14)) as EMA3_RVI14
Apply to NSE

This scan looks for specific patterns in the 14-period RVI. It looks for instances where the RVI, which was previously below the 3-period Exponential Moving Average (EMA) of the indicator for 3 consecutive bars, has now crossed above the EMA. The scan report includes the values of the 14-period RVI and the Moving Average.

OPTION 1

Additionally, we can incorporate another filter into the scan. This filter checks whether the RVI (14) is still below the threshold of 30, which indicates an oversold condition.

List symbols where RVI(14) has crossed above EMA(3,RVI(14)) after remaining below for 3 bars
And RVI(14)<30

Add Column RVI(14) as RVI14
Add Column EMA(3,RVI(14)) as EMA3_RVI14

Apply to NSE

OPTION 2

To change the type of Moving Average, you can easily make a change from EMA (Exponential Moving Average) to SMA (Simple Moving Average), or any other desired type. In the following example, we have replaced EMA with SMA because we are specifically using Simple Moving Average. Additionally, the scan we are discussing simply searches for a crossover, regardless of where it occurs in relation to the previous state.

List symbols where RVI(14) has crossed above SMA(3,RVI(14))
Add Column RVI(14) as RVI14
Add Column SMA(3,RVI(14)) as SMA_RVI14
Apply to NSE

Relative Volatility Index Moving Average Bearish Crossover

Tags: relative volatility index moving average crossover bearish

List symbols where RVI(14) has crossed below EMA(3,RVI(14)) after remaining above for 3 bars
Add Column RVI(14) as RVI14
Add Column EMA(3,RVI(14)) as EMA3_RVI14
Apply to NSE

This scan looks for instances where the 14-period RVI has recently crossed below the 3-period Exponential Moving Average (EMA) of the RVI. This crossing occurs after the RVI has remained above the EMA for 3 consecutive bars. The values of both the 14-period RVI and the Moving Average are provided in the scan report.

OPTION 1

Additionally, we propose incorporating an extra filter to determine whether the RVI(14) is still above 70, indicating an overbought zone.

List symbols where RVI(14) has crossed below EMA(3,RVI(14)) after remaining above for 3 bars
And RVI(14)>70

Add Column RVI(14) as RVI14
Add Column EMA(3,RVI(14)) as EMA3_RVI14

Apply to NSE

OPTION 2

To change the Moving Average type, you can easily switch from EMA (Exponential Moving Average) to SMA (Simple Moving Average), or choose another type as needed. In the example provided below, we demonstrate the use of the Simple Moving Average (SMA) instead of EMA. Additionally, this scan specifically focuses on identifying crossovers, regardless of the state of their position before the crossover event.

List symbols where RVI(14) has crossed below SMA(3,RVI(14))
Add Column RVI(14) as RVI14
Add Column SMA(3,RVI(14)) as SMA_RVI14
Apply to NSE

For comprehensive insights into the Relative Volatility Index (RVI), including its calculation methodology, effective utilization in trading, applicability to both trading and investing purposes, as well as an exploration of its advantages and limitations as an indicator, click here.

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