This is an experimental variation of Paul L. Dysart's Positive Volume Index and Negative Volume Index that tracks the divergences between the PVI and its EMA, and the NVI and its EMA, then plots both together for comparison.
This tool can be used to identify trending price activity.
เอกสารเผยแพร่
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Simple update: Added custom bar colorization.
เอกสารเผยแพร่
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Simple update: Updated color scheme based on PVI and NVI divergence strength.
เอกสารเผยแพร่
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Updates: Added optional smoothing to the script using an exponential moving average to filter noisy outputs.
Added a mode selection with three modes to choose from: - Dual Index Mode, which displays the original DVDI - Oscillator Mode, which displays the difference between the PVDI and NVDI as a centered oscillator - Bar Counter Mode, which displays the number of bars in which volume divergence is in a positive dominant phase and negative dominant phase
เอกสารเผยแพร่
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Updates:
Migrated code from pine v2 to pine v3.
Added a source price input.
Added an option to use tick volume rather than real volume. If the chart being analyzed has no real volume component, use tick volume.
Condensed DVDI's operations into a singular function for optimized performance.
Fixed a small issue with the bar counter.
Mode selection is now an easy to use dropdown menu.
Color schemes have been updated for greater detail.
เอกสารเผยแพร่
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Updates:
-> Migrated to v4. -> Updated DVDI function. -> Corrected NaN values to stabilize initial conditions. -> Reorganized script structure. -> Revamped color scheme.
Hey there, thanks a lot for your work. DVDI and DVDIQQE became one of my go to tools. I spent days fine tuning them, especially QQE and found them to be extremely accurate in finding weaknesses and trend reversals. QQE can be used on all time frames, down to the 1 minute chart for scalping (if setup correctly). Amazing work!
linknero
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@Tommy_bnks, Hi, may I ask you what parameters are you using, please?
Tommy_bnks
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@linknero, depending on the style of trading (swing, scalping or general market analysis) between around 60-180 of length. Look for divergences and play with length to fit the instrument and TF you´re trading on. The usual stuff works pretty good, like price going sideways and DVDI loosing strength. Ah by the way, i always use it in the Oscillator mode. Edit: and with DVDIQQE i tried so many settings, it really depends on your style. In the end i´m back at 13 length and 6 for smoothing. The same applies here of course: divergences work very well with it, especially for scalping. When the market is dumping and the dvdi "crosses" below the zero line; take care. The depth of the dvdiqqe basically shows how oversold the market is, but is not reliable to enter there (as with most indicators). In fact after bigger sell offs, you can spot another wave down very easily: price is finding support and shows first signs to test the next resistance --> dvdiqqe shows this by making a clean "cross" below the zero line and quickly coming up to test the zero line. If dvdi shows the slightest rejection at the zero line, the resistance will not break and another rather heavy sell starts. At least works well with crypto.
cooney_s
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Nice script, any chance you want to add price bar colorization? Thanks for sharing!
avokain
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Thank you. But can you add a guide how to use this? ))
UnknownUnicorn1192030
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Nice thank you
Tommy_bnks
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wow, going in oscillator mode and playing around with the settings for different kind of trades on various timeframes looks very promising. I think i found a new favourite swing trading tool. THANK YOU
Tommy_bnks
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@Tommy_bnks, it makes it much easier to spot divergences/weakness in uptrends. I combine it with my own frankenstein indicator
CSFS
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NVI - (x - nz(x[1])) : NVI in your function is the opposite of the original NVI, WHY?????
DonovanWall
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@CSFS, It appears I fudged some details on my most recent update. Thanks for bringing it to my attention. I need to fix the calcs on the DVDI function. I'll put it on my to-do list. I have quite a bit in the works, but expect to see an updated patch within the next couple weeks.