This is my version of plotting the classic Positive Volume Index and Negative Volume Index. They can be wildly different sometimes and not very helpful with entry and exit points but I hope this helps clearly identify buy and sell signals. Buy when the indicator is green and sell when it is red
This was a special request so let me know when you want more scripts from me!
เอกสารเผยแพร่
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updated it so the signal length is able to be changed
เอกสารเผยแพร่
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updated to make it consistent with my other indicators
hey, thank you for your awesome indicator, i checked the difference between NVI and PVI can you plz explain how did you combine them togather? i think it's very good for divergences between dem!! tnx <3
cheatcountry
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@abol_fzz, Since both indicators are very similar but also interpreted differently, I compared each indicator to it's signal line and then combined the two oscillators into one oscillator
dhman2012
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Hello, Thank you for putting this together. Quick question: what does signal length do? Is it based on timeframe? How would this change based on ema? Thank you
cheatcountry
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@dhman2012, The indicator is the difference between positive volume index and negative volume index so the signal is the ema of the indicator based on the signal length. I chose the signal length because I wanted a number that would give crossovers between the signal and indicator but not too many. Feel free to change the signal length if you want.
dhman2012
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@cheatcountry, Got it. Thanks for the explanation and the great work!
You actually combined four possibilities NVI and PVI can be at a frame time. I don't understand codes. So, you said that PVI>EMA and NVI>EMA, the market is up trending. The opposite, PIV<EMA and NVI<EMA, the trend is descending. Is this what you actually set in this indicator?
cheatcountry
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@Pericle, Pvi > Ema and Nvi > Ema are not for detecting the trends but finding when the indicator was stronger than its signal line and then combine both into one and I use that final indicator to determine if it is trending or not