Visibility Graph-Based Relative Strength Index VGRSI for Financial Market Decision-Making

The study proposes a causal relative strength index VGRSI based on visibility graphs, which filters and implicitly weights price increments through backward natural visibility, outputting an indicator value in the 0-100 range. The indicator achieved positive cumulative net profit in a rolling forward backtest over 503 trading days from 2024-2025 across DJI30, EUR/USD, and XAU/USD, while the classical RSI strategy and a VGRSI variant without visibility screening both recorded cumulative losses over the same period. As the sample covers only three instruments and a single historical period, the results are labeled as preliminary.