The Cumulative Volume Index (CVI) is a powerful market breadth indicator that helps traders determine the direction of money flow, whether it flows into or out of the market. This information can be used to identify a trend. It is similar to On Balance Volume (OBV)
except the CVI uses the actual up- and down-volume instead of assuming all volume is either up or down when the stock closes higher or lower. When it falls the market is bearish and vice versa. Traders can spot divergences that may point to reversals. The indicator can be used in combination with other analysis techniques.