NVI
Negative Volume Index
Description
The Negative Volume Index (NVI) was introduced by
Norman Fosback, and is often treated as a couterpart of the positive volume
index (PVI). The two indicators assume that 'smart' money is traded on low
volume days and that the crowd trades on high volume days. The NVI picks out
days when the volume is lower than the previous day, the PVI picks out days when
the volume is greater than the previous day.
Category
Price Volume Indicators
Parameters
Start ( Default:
1 Min: 0 Max: 1000000000 )
N1 ( Default: 9
Min: 0 Max: 10000 )
N2 ( Default: 255
Min: 0 Max: 10000 )
Chart Script
A:=IF(V<=REF(V,1),C/REF(C,1),1);
NVI:Start*MUL(A);
M1:EMA(NVI,N1);
M2:EMA(NVI,N2);