Directional Volume Index
A new idea of mine that I am presently experimenting on for my trades.
The Directional Volume Index (DVI) is defined as follows:
DVI = VWMA(len1) - SMA(len2), where by default, len1==len2
The sign of the DVI provides volume confirmation of the direction of the price trend.
The magnitude of the DVI provides the volume confirmation of the strength of the price trend.
The novel aspects and principles of this indicator and this source code are the property of © cybernetwork.
This indicator and script is free for the TV community to use.
The Directional Volume Index (DVI) is defined as follows:
DVI = VWMA(len1) - SMA(len2), where by default, len1==len2
The sign of the DVI provides volume confirmation of the direction of the price trend.
The magnitude of the DVI provides the volume confirmation of the strength of the price trend.
The novel aspects and principles of this indicator and this source code are the property of © cybernetwork.
This indicator and script is free for the TV community to use.
Notes de version:
Removed redundant input.
Notes de version:
Updated smoothing to VWMA smoothing.
Notes de version:
Updated inputs.
Notes de version:
Tweaked VWMA smoothing parameter.
NOTE: The accompanying analysis package is now republished as Directional Volume Index (DVI) {PREMIUM}.
NOTE: The accompanying analysis package is now republished as Directional Volume Index (DVI) {PREMIUM}.
Notes de version:
-
Added Stdev based thresholds.
The DVI piercing the Stdev boundary suggests overexuberance in the corresponding direction.
- Tightening of the DVI-Stdev bands can suggest the possible incoming of major move ahead.
Notes de version:
Simplified script.
Notes de version:
Updated vwma smoothing default.