LazyBear

Indicator: Postivie / Negative Volume Indices

2536 1 60
More info at http://www.investopedia.com/terms/p/pvi.asp

I have included both NVI and PVI. Enjoy :)
Remove from Favorite Scripts Add to Favorite Scripts
//
// @author LazyBear
// @credits http://www.investopedia.com/terms/p/pvi.asp
// Calculation of the PVI depends on how current volume compares with the previous 
// day's trading volume. If current volume is greater than the previous day's volume, 
// PVI = Previous PVI + {[(Today's Closing Price-Yesterday's Closing Price)/Yesterday's Closing Price)] 
//   x 
// Previous PVI}. If current volume is lower than the previous day's volume, PVI is unchanged.
// 
study(title = "Positive Volume Index [LazyBear]", shorttitle="PVI_LB")

length=input(365)
showEMA=input(true, title="Show EMA?", type=bool)
START_VALUE=100
pvi=(volume > volume[1]) ? nz(pvi[1]) + ((close - close[1])/close[1]) * (na(pvi[1]) ? pvi[1] : START_VALUE) : nz(pvi[1])
hline(0)
plot(pvi)
plot(showEMA ? ema(pvi, length) : na, color=orange, linewidth=2)
I'll try this one out
+1 Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out