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# MCVI Indicator and Strategy on Daily Charts

### About the Author Jeff Swanson

Jeff is the founder of System Trader Success - a website and mission to empowering the retail trader with the proper knowledge and tools to become a profitable trader the world of quantitative/automated trading.

• Marco says:

Thank you for the daily version Frank. What do you think about the overperformace of Nasdaq compared to S&P500?
http://nightlypatterns.wordpress.com/

• WQ says:

http://www.fxcodebase.com/code/viewtopic.php?f=38&t=33984

I tested it on EURUSD and GBPCAD. I found the curve of MCVI-21 is very similar to RSI-14. And indeed MCVI-14 is similar to RSI-14 too.

Did you ever compare MCVI with RSI and do you have any idea on the difference between MCVI and RSI?

Thanks for sharing this indicator!

• I’ve not compared the two indicators. In general the MCVI indictor is an oscillator based upon standardized deviation away from a moving average. The RSI is also an oscillator but computes a ratio of high closes vs lower closes.

• Pol says:

Hi! Do u test a connorsi indicator? Would be cool to see results cause I try to use their connorsi) thx forward

• Mike says:

What’s “MP” in the code? When I try to compile it throws an error saying it’s not recognized. Is the code referring to another function or variable?

• MP is a built-in variable that holds the current market position. 0 = flat, 1 = long, -1 = short. If your compiler does not recognize MP you will need to declare it and then assign it. Something like this will need to be placed within your code:

Variable: MP(0);
MP = MarketPosition;

• Mike says:

Thanks, that’s what I figured.

• Jim says:

Hi Jeff,

Some comments about the MCVI indicator and strategy. At the “Inputs:” the value “N(NUMERIC)” draws an error message reading “arithmetic (numeric) expression expected here”. Why is this occurring?

At the line reading “MCVI = Result” the error message reading “assignment to a function not allowed” appears. Why?

Why would you not plot a zero line, a LowValue line of (-0.51) and a HighValue line of (+0.43)? Yes, I know that I am free to add those but the question is why have you omitted such?

Since neither the indicator and the strategy will verify I would like to remove them from their respective file folders (not any given chart). How do I do that?

I have found your articles and experiments interesting and sometimes useful; that is, when I can get them to work on TradeStation 9.5 Update 17.

Jim Stanclift
opus4@comcast.net