Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2011.12.08 11:09
Indicators

Positive Volume Index - indicator for MetaTrader 5

| English Русский 中文 Español Deutsch 日本語 Português

Views:
3536
Rating:
votes: 10

Positive Volume Index (PVI) draws a connection between the volume rise and financial instrument price change. In case the volume increases compared to the previous day, PVI is defined by the price percentage change.

PVI indicator is designed so that its value changes only when the current day volume is higher than the previous day one. Due to the fact that the prices growth is often connected with increasing volumes, PVI usually changes during an uptrend (and follows it).

The following assumption is implemented in PVI interpretation. At the time when trading activity is booming and the volume is going up, amateur investors who follow the crowd are most active. In the opposite case, when the volume is decreasing, the market is controlled by professionals making smart money. Therefore, PVI values changes (as it was already noted, PVI changes only when the volume is rising) show that the time for making "smart money" on the market has come.

In his book "Stock Market Logic: A Sophisticated Approach to Profits on Wall Street" Norman Fosback shows that, if PVI of Dow Industrials index is lower than its one-year moving average, the market is bearish in 95 out of 100 cases.

Positive Volume Index

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/518

BBands Stop v1 BBands Stop v1

Modification of Bollinger Bands ® trend indicator.

Murrey Math FixPeriod Murrey Math FixPeriod

Murrey Lines with calculation at all bars and the possibility to choose a timeframe for lines calculation.

HistoryLoader HistoryLoader

Multi-currency Expert Advisor functional module for organization of an access to any historical data with a request result processing.

Negative Volume Index Negative Volume Index

Negative Volume Index (NVI) draws a connection between the volume downfall and financial instrument price change.