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Range Action Verification Index (RAVI) by Tushar Chande
The  indicator Range Action Verification Index (RAVI) is useful to check trending and ranging markets like the ADX. RAVI is a momentum based indicator whereas the ADX looks at  current price action to the previous. 

Range Action Verification Index (RAVI)


Range Action Verification Index (RAVI)


The interpretation is very simple. When the value of the RAVI is more than 3- 4 % then the stock is trending. Lesser han this value the stock is ranging. Of course there is no hard and fast rule about the percentage level. One can fine-tune it depending on the market or stock. It may vary from stock to stock. You can experiment with these values and also the moving average values. 
Source / From: TOP

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