Directional Volume Index

Bitcoin / U.S. dollarBitstamp

Beskrivning

⋅ 12 jul 2020 08:03

A new idea of mine that I am presently experimenting on for my trades.

The Directional Volume Index (DVI) is defined as follows:
DVI = VWMA(len1) - SMA(len2), where by default, len1==len2

The sign of the DVI provides volume confirmation of the direction of the price trend.
The magnitude of the DVI provides the volume confirmation of the strength of the price trend.

The novel aspects and principles of this indicator and this source code are the property of © cybernetwork.
This indicator and script is free for the TV community to use.

Versionsinformation

⋅ 12 jul 2020 08:06

Removed redundant input.

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⋅ 13 jul 2020 00:00

Updated smoothing to VWMA smoothing.

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⋅ 13 jul 2020 00:14

Updated inputs.

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⋅ 13 jul 2020 01:40

Tweaked VWMA smoothing parameter.

NOTE: The accompanying analysis package is now republished as Directional Volume Index (DVI) {PREMIUM}.

Versionsinformation

⋅ 18 jul 2020 07:25

Added Stdev based thresholds.
The DVI piercing the Stdev boundary suggests overexuberance in the corresponding direction.
Tightening of the DVI-Stdev bands can suggest the possible incoming of major move ahead.

Versionsinformation

⋅ 18 jul 2020 09:51

Simplified script.

Versionsinformation

⋅ 25 jul 2020 02:22

Updated vwma smoothing default.

Kommentarer

MadMoto29

⋅ 2 nov 2020 17:15

Hi! Went to try this today but no output in the pane.

Mer