Directional Volume Index

Bitcoin / U.S. dollarBitstamp

Descripción

⋅ 12 de Jul. de 2020 8:03

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.

Notas de prensa

⋅ 12 de Jul. de 2020 8:06

Removed redundant input.

Notas de prensa

⋅ 13 de Jul. de 2020 0:00

Updated smoothing to VWMA smoothing.

Notas de prensa

⋅ 13 de Jul. de 2020 0:14

Updated inputs.

Notas de prensa

⋅ 13 de Jul. de 2020 1:40

Tweaked VWMA smoothing parameter.

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

Notas de prensa

⋅ 18 de Jul. de 2020 7:25

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.

Notas de prensa

⋅ 18 de Jul. de 2020 9:51

Simplified script.

Notas de prensa

⋅ 25 de Jul. de 2020 2:22

Updated vwma smoothing default.

Comentarios

MadMoto29

⋅ 2 de Nov. de 2020 17:15

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

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